The Market is between two high trading volumes levels.
Analysing Forex from The Market side & perspective.
Today at Asia Trading session we have USDJPY in a big ranging market. The Market successfully stopped out buyer positions at 107.58. This means that The Market will not stop out accumulated seller positions at 107.90 but to make new seller positions at 107.56 and on its way to stop out accumulated buyer positions at 107.44 instead. This buyer positions is what traders call support level and many traders start buy from this area hoping that The Market will bounce and going back up. But, The Market will stop out their positions because that level is in high trading volumes that attracts The Market to take profit on its own. Will you follow The Market to sell? I do.
Today at Asia Trading session we have USDJPY in a big ranging market. The Market successfully stopped out buyer positions at 107.58. This means that The Market will not stop out accumulated seller positions at 107.90 but to make new seller positions at 107.56 and on its way to stop out accumulated buyer positions at 107.44 instead. This buyer positions is what traders call support level and many traders start buy from this area hoping that The Market will bounce and going back up. But, The Market will stop out their positions because that level is in high trading volumes that attracts The Market to take profit on its own. Will you follow The Market to sell? I do.
