(Sorry Goomboo, not blaming this technique on you, just that you were where I learned of it
)
in this post
https://bitcointalk.org/index.php?topic=60501.msg736626#msg736626 Goomboo describes a trading technique called "The Hammer" thusly:
The Hammer (Long)
1. Big trader posts large volume on the ask side
2. Individuals see the ask and try and get in front of him by selling/shorting/lowering their offers
3. He is simultaneously buying at the bid from the small guys
4. As soon as selling volume dries up, he pulls his ask and enters long, causing a jump in prices
5. He sells to the people who buy behind him, scalping a profit
How to Play the Hammer (Long)
1. Watch the volume from the small traders that are trying to trade in front of him
2. When the volume dries up and he pulls his ask - enter long
3. If he doesn't follow soon with a large trade, exit your trade at a scratch or loss
To me, that kind of sounds like what we are looking at here:
Other than someone with a lot of money putting a stop to it, what eventually causes this sort of thing to end?
