usd/jpy Intraday update . Are we looking at culmination ?
The reason I was concerned with this trade, because there are not too many times price has lean near those high prices and downside price action was rejecting from low prices.
To spot «weak holders» activity, let’s think – what levels will be not interesting for big money buyers/sellers?
They are – sessional highs/lows, previous days highs/lows.
We see some participation from level above and price freezes near level below. If it reverses from this point, probably it will be a sign of day-traders purchasing there.
Big money players are not interested in that levels – they don’t attract enough volume for them(Like the one I mentioned where are set my stops), Big money buyer will rather act inside of consolidation, because he needs volume to execute his position. (They rarely react at daily price extremes) Now if you have two attempts from day-traders to play long and to play short, you may want to see – what group is going to earn money.
If sellers will have good prices to exit (prices will breakout to the downside quickly), then probably market is driven more by strong (professional) supply there, if day-trading buyers will win, then some strong (professional) demand is there and helps them.
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