5 p.m., European trading time zone.
EYMEX crude oil prices continued their strong performance from the Asian session, influenced by news.
The $17.80 per barrel resistance level held for only a moment.
It was then shattered by the continuous influx of bullish funds.
$17.82.
$17.91.
......
At 9 p.m., in the Americas trading time zone, trading volume surged rapidly.
This period is also the most active time for international crude oil futures trading throughout the day.
Of these, 65% of the trading volume was generated during this period.
What we usually see is that prices don't change for several minutes, and the trading volume is a pitiful few lots.
Such a period of time is usually called transition time, or garbage time.
This means that neither the buyer nor the seller intends to reach a deal.
The same principle applies to Bitcoin, which is familiar to everyone in later generations.
The timing of market movements often occurs in the Americas time zone.
Many news media outlets have also reported on this.
Li Si woke up to find his Bitcoin account liquidated, and he was heartbroken and could hardly breathe.
Or, Zhang San, sporting a pair of black eyes, excitedly shouts to everyone he meets, "I've made money!"
Such reports are just a microcosm.
But this is enough to illustrate the importance of this point in time.
Trading volume increased rapidly.
A massive influx of buyers poured in.
Above $18, the defensive line of several thousand short orders is as fragile as a piece of toilet paper.
Between breaths.
In the intraday chart, the yellow line representing the moving average is stretched into a straight upward line.
$18.06.
$18.17.
$18.24.
The transaction records in the upper right corner of the screen are constantly being refreshed.
Open more, open more, and open more still.
Among them, there were also quite a few orders that were placed without any payment.
In such extreme market conditions, a 2 percentage point increase can occur in just a few seconds.
An empty shell is like a cup placed on a table.
—What a tragedy!
It wasn't that the trader actively closed the position; rather, the account losses were too high, leading to a forced liquidation by the exchange.
In a zero-sum game, if you buy 10 short contracts, you need to buy 10 long contracts to hedge your position.
In other words, the forced liquidation of short positions became a boost for the bulls, and crude oil prices further accelerated their rise.
The consequences that result.
It was catastrophic, and it had a domino effect.
Countless short sellers were forced to liquidate their positions, and their account balances shrank by more than half.
Some people used high leverage and lost everything, even owing money to the exchange.
This is not uncommon; every year there are cases of people taking their own lives after their accounts are liquidated.
$18.56.
After this price appeared on the screen, the number of contracts for multiple flat-rate and multiple swap contracts began to increase.
The price of international crude oil seems to have been paused.
It remained within the range of $18.45 to $18.52, fluctuating back and forth.
"Boss, it's already $18.50."
Wangcai grinned from ear to ear, looking like a fool.
In fact, it's only been a little over 6 hours since this afternoon.
EYMEX crude oil prices rose from $17.76 a barrel to $18.5 a barrel.
It rose by $0.74.
In just 6 hours.
Chen Dong's 30,000 long contracts have yielded a floating profit of $22.2 million, which is approximately RMB 106 million.
Seeing the floating profit displayed in his account, Chen Dong nodded in satisfaction.
In just 6 hours, I earned 0.66.
In later generations, a mediocre actor used the 160 million RMB he earned from a single film as his currency, earning him the nickname "Yi Shuang" (meaning "a bit of fun").
Following this logic, Chen Dong earned 0.66 Shuang in 6 hours, which would amount to 963 Shuang in a year.
It's like they're rubbing Zheng Shuang in the ground!
On the other hand!
How many people can have a cheat code like Chen Dong?
Putting aside such distracting thoughts, Chen Dong patted Wangcai on the shoulder and said with a smile.
"That's all for today, go back to your room and rest early."
"Okay, boss."
Wangcai smiled and agreed.
Tidy up the desktop and shut down the computer.
If anyone else dared to say that to Wangcai, he would make that person question their existence.
Don't believe me!
The international crude oil futures market is often referred to as a meat grinder.
There's a reason for this.
Whether you're bullish or bearish, countless people have lost everything in the international crude oil market.
Chen Dong's ability to make Wangcai so obedient wasn't based on smooth talk, but on his strength.
In the financial market, survival of the fittest prevails, and the strong are respected.
This is far more cruel and bloody than real society.
......
......
At the same time.
The HSBC Investment Strategy Department was brightly lit.
Mark and the others had bloodshot eyes, their pupils filled with a network of blood vessels.
Regret, excitement, jealousy...
It's difficult to see so many emotions in a person's facial expressions.
The matter is quite simple.
After being politely rejected by Chen Dong, Mark arranged for his trusted confidants to monitor the inflow and outflow of funds in Chen Dong's account.
This clearly violates business ethics and is a violation of regulations.
But who cares?
Even if the truth comes out, those arrogant gentlemen will not believe that a Chinese person is a so-called stock market guru.
There are far too many people in this world who view things with prejudice.
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