Replies to post #139251 on Simple's Green Room

[pennies2007]

They're fiddling with it. They pushed it barely 1 pip above the zone I had marked and dropped it back down. But I had my zone marked pretty tightly. The top of the zone technically should have been at 0.7468 or so. I tightened it down on the 1 minute chart and I got it a bit too close. I didn't figure it would get too far though based on the structure of the zone area as a whole.

Now if we can just get the sucker to fall apart...LOL!

[pennies2007]

Every time I take a trade late in the evening, I always find that the best entry levels come at around 2 AM if I just wait until then instead of jumping in ahead of that time.

I guess they wait until London pre-market opens at 2 AM Central so the banks can start moving these pairs around.

I need to just make myself wait until at least 2 AM from now on. The trades always work out but that time marker seems to work best.

[pennies2007]

Hey Heavy, you'll love this...talk about market manipulation.

Sam mentions in one of his videos that the institutions and brokers will often widen the spread right near a valid zone. He says it happens all the time.

It accomplishes 3 things...

1. Takes out any stops that are close by without actually moving price.
2. Sucks in any alternate positions from retail traders waiting to go in the other direction...on NJ that would be sucking in retail longs.
3. Keeps any retailer who may be trying to get in at an institutional trading level out of the market by missing their order entry by a few pips.

So I decided to test it out. I set my chart to show the bid and ask line and then dropped down to the smaller time frames to watch for a while.

With no news of any kind, I literally watched them double the size of the spread over and over again for just a second or two at a time before returning to normal spreads. At other times, the spread would go to practically nothing...like maybe half a pip...to avoid taking any additional orders waiting at a given level.

The sneaky suckers are literally taking out stops and absorbing orders from retailers going the other way. Stops get taken out just in time to see price go the way they wanted it in the first place. And any alternate direction traders would see their orders get triggered but would never get in the green to be able to close the trade, literally trapping them.

So far in this case on NJ, they were able to take out stops at the first primary zone but have kept price from hitting the bottom of the secondary zone just above it by manipulating the spreads.

That's why we miss getting filled so many times right at a zone level...they're jerking us around...LOL!