just one trade for me t'day, nice cable 15m-QM
Pipcrawler
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DislikedNicely explained TJ.
I would also add that (in regards to the first pattern) this is essentially 'distribution' - can you see that each new high is very quickly rejected - this is a sign of buyers starting to 'distribute' (unwind their long positions which of course is the same as shorting) their long positions.
To understand accumulation and distribution you need to understand the mechanics of how large players build positions and unwind positions. It's beyond what I want to get into here in a huge amount of detail, but to give a quick summary:
....Ignored
DislikedMissed my alert going off on this one. Notice that price has arrived here from the SD zone FTB short we had yesterday.Ignored
DislikedPrice did not touch the zone ... Infact , it was quite a distance from where price returned ... Are you going to discard the setup now or is it still valid ?
Same question for the charts in your last post ... Don't know what chart are those ...Ignored
DislikedPrice did not touch the zone ... Infact , it was quite a distance from where price returned ... Are you going to discard the setup now or is it still valid ?
Same question for the charts in your last post ... Don't know what chart are those ...Ignored
DislikedBeen watching this for a while, just waiting for retest of 9710 to enter.Ignored
DislikedYes it was GAUD and the FTB has played itself out now, so setup has gone by the by.
I'm not as keen on AU as I was before so will watch how price approaches on this one.
The reason being that I'm looking at this whole zone as an important pivot zone and we have now had 3 rejections from this zone. This suggests that when price comes back again it could be gearing up for a break south below this whole zone (alternatively it could create a bear trap below those lows into our SR FTB).
Those lows are clearly going to provide some resistance...Ignored
DislikedGot stopped out overnight....the ascending triangle pattern developed into a rising wedge pattern and then broke southIgnored
DislikedI think you got in a bit too early on your long there. Don't see a decent reason to pre-empt that it was moving up...Ignored
DislikedI didn't take this setup - UJ was strongly indicating it was going to break the support (strong selling into a 6th time back to this support) as per the chart below at the time and with UJ often leading the Yen majors it was a something to be taking notice off.
The move down into the area on GJ itself was also very impulsive which is a factor to bear in mind with FTB's from my experience (more on this another time).Ignored
Dislikedi've been watch'n the ltf only lately, so missed this beautifull 4H ozzie QMIgnored
DislikedMissed the DBD FTB early doors this morning (and some yen shorts too!), eyes on the 0.9762 SR level and the 0.9842 SR level now on this pair.Ignored