The BIL move. A higher high or lower low usually on less volume and designed to take you (the smaller trader) out of the trade and let the big boys in the trade. Hence the name BIL move. The boys let their "brother in law" in the trade.
So if the move is going to be down and we just made a high and look to be reversing lower a BIL move would be a higher high, stopping you out and letting big boys in, before ultimately making the move down.
Note: I can not take credit for this term. It was taught to me by my friend Jan.
2 comments:
For the sell side, sounds like the perfect setup for a sell-stop to enter a range-break, usually at an extreme. The lower low triggers the stop, then if the market reverses up you'll buy back and add to the buying pressure. I try to only do that now in a SIM account!
I love it! BIL
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