Price gapped down, then instantly gapped up. A alot of market manipulation. The market makers are giving the impression they are favouring lower prices with alot of red candles making downward progression, and green candles, showing large volume but the ground they try and gain does not really make any progression upwards.
The test of the 200 day on the 15 minute chart proved to be respected as prior to Asian open, market makers pushed price with heavy volume. This can mean many things. Are the market makers try to take out stops? Are they adding more short positions at higher prices? Who knows? but all I can do is wait and see if a new low is established.
The monthly candle has turned negative, The Asian daily open has just turned negative, Monthly support 1 is in sight however, also the 109.100 – .200 is also looking like an area where the mm may want to go.
The 50 day is pointing downwards. Succession of lower highs is unfolding. We could be going further down.
Tonight maybe a long night.
Balance $1496.70 (Starting Balance $1275.00)
Update:
Price has now passed the daily open, the market makers will probably drift price to the next point of interest which is the daily support 1 which is also the 109.100 level. This level, if you look left is the same area where market makers previously started building shorts or closing longs. Whatever it is, the market makers need to get their cut from those orders.
