Tom Williams wrote in MTM in p.23: You must always try to be aware of "Herd Instinct".
How can we know how crowd thinks? How can we study that?
How can we know how crowd thinks? How can we study that?
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DislikedI guess that would depend on what time frame you are talking about.Ignored
DislikedPlease indulge me here a bit. I had a hard time seeing this today so I am trying to "walk" myself through it. If you have any insights please feel free to add them.
I am going to try and put down what I was thinking then and now so it might be a bit jumbled. Plus it's way past my bedtime.
Okay take a look at the first chart.
The place to begin is with the first No Demand.
A. No Demand: Not VSA, but rather Wyckoff Candle Volume: the real body is smallish signifying no momentum to the upside. The Selling Shadow is equal to the Buying...Ignored
DislikedPlease indulge me here a bit. I had a hard time seeing this today so I am trying to "walk" myself through it. If you have any insights please feel free to add them.
I am going to try and put down what I was thinking then and now so it might be a bit jumbled. Plus it's way past my bedtime.
Okay take a look at the first chart.
The place to begin is with the first No Demand.
A. No Demand: Not VSA, but rather Wyckoff Candle Volume: the real body is smallish signifying no momentum to the upside. The Selling Shadow is equal to the Buying Shadow...Ignored
Dislikedes weakness really showing up now ....
1300 or lower in comng week...
this may take eu under 1.4. Looks like this may have been absorbing demand in the 4050 area , I sure got caught in the chop[ and did not have time to focus ... -240 pip on the week .... one of the most frustrating weeks ever. Most trades went +40 to +50 , missed tp by 10 pip before reversing and stopping me out
oh well overall month has been awesome
and as for es trades .. well lets just say I killed every effort to rise to 1343
ES chart volume is one day delayed...Ignored
DislikedI see a possible next stop to 1.4360-1.4450 before a next ANOTHER strong move. ...
If distribution gives way at 1.4050 , i see a possible move down to 1.39-1.36.
Can't wait to see what happens.Ignored
DislikedHi HG, I'm not following ES but I'll tell you what I see from your charts alone.
Your 'effort to rise' is a solid up bar on the highest volume for the past 37 periods and at first glance, looks strong but we should bare in mind that it is also a 'very high volume wide spread up bar'(we know that markets dont like these). What happens next is interesting for us. We see no follow through to the up side. We should now be thinking that the wide spread bar was indeed weakness not strength.
Then we get a good quality test....oh no perhaps it was strength...Ignored
DislikedThe last two posts has screen shots of Friday's price action. As for the the second post with the two shots, I showed two charts to clearify my anotations. I usually show closed zones as shaded grey or yellow. When a zone is open (valid for entry signals) it is shown with the lines.
So it looks as if the area being disscussed is mute because the zone is close but it is actually open at the time.
Thanks for the info. You know how I feel about multiple time frames. If the second best method I have ever seen can trade off of one time frame, then...Ignored
DislikedSo I decided to make one last post on triggers to look at a question I have been asked a few times... "How long should I leave on trigger levels?"
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DislikedAUD Futures Weekly.
Look at those two high vol bars at the right on those down weeks. No follow through... I'm thinking we see an accumulation. Looking for 1.13+.Ignored
Disliked4. I also use a pivot indicator which automatically draws on previous day H/L, daily open, DPV and daily S & R levels
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DislikedPres, thank you very much for this extensive explanation. Could you pls tell us what's the name of your mt4 pivot indi?
Thanks again
Les_PaulIgnored