The way I see it is like this, Buy1Sell2 has no idea at the moment whether markets will bounce (short-term) or whether they will continue declining, that is not to say that most have any solid justification of their beliefs of what is about to happen. But when it breaks (either way), there will be more than 100 points on offer to people like Buy1Sell2. I still don't understand his recent experiments, as I believe in principal that there is no need to fix a working wheel.
Anyhow.... The reasons were: 1. Double bottom on the daily. 2. RSI divergence. 3. Reached the lower BB.
S873.5, s~3, h/s+10 Scaled out 2/3 +4.5 H&S+triple D on 1m near the high of a bullish oscillation (that's what I saw at the time) 1/3 b/e
<i>"The reasons were:"</i> #4: two open gaps above? They pull like tractor beams from a black hole. Easiest trading day we've been offered in a long time. Stubborn shorts got what they always get in overcooked bear market swings. Smoked.
<i>"even buy1 can't handle a stop like that"</i> This is a day-trader's only market. Actually, it's nirvana
Did I say intervention on usd/jpy when it goes below 95? Yes, I did. But I got only a small piece of the action due to the volatility