Triantus Shango
Sergeant Major
- Messages
- 1,371
maybe on H1. on M30, i don't like the look of it. but that's just me. what the hell do i know?
ok what about this one?View attachment 6414
ok what about this one?View attachment 6414
Sive,
On Friday, evidence of downward intention was all over the charts. Here is a screen shot of some of the odd choppy action you don't typically see. The first box is next to a 1 minute candle with about 25 pip thrust down and the second box is by a 35 pip one minute candle. I understand why a long bar is formed. Typically on this pair, most price movement is very quick all done in about four 10 minute candles with a lot of choppy waters in between them. Usually, the long 1 and 5 min candles go the same direction indicating most of the money movers are going the same direction, and the choppy retracement is a lot of smaller shorter candles.
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What are the market mechanics behind this down thrusting candle (which is expected at a major Resistance) and then this "irrational" up thrusting candle?
1. Is this a wash and rinse just to knock out little guys who are getting short? (malicious and intentional)
2. Big market players not being of the same opinion as to where to take the market? (unintentional)
3. Some central bank getting in for its own reasons that may or may not be immediate profits?
4. Some other reason I can't think of?
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The other question on everyone's mind is: how much money does it take to move the EUR/USD a pip or in this case 35 pips in a minute? One pro trader said in another forum "An order of less than 1000 lots could not move the market one pip". What say you?