ok i took out the sunday data from accucharts and rechecked the 5 sma
with sunday 238.28
with out sunday 237.77
hope this helps
with sunday 238.28
with out sunday 237.77
hope this helps
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DislikedRead your post, M2B, you are an asset for us. Impressive tutorial example showing how to analyse multi time-frame. Thanks, I learned.Ignored
Dislikedok i took out the sunday data from accucharts and rechecked the 5 sma
with sunday 238.28
with out sunday 377.77
hope this helpsIgnored
Dislikedg/j in a 15 pippish range in the last 2hrs ---lol---what a move !!!
anyone in any trades in this lousy range??Ignored
Dislikedit would be funny if anyones even attempting to scalp this range--Ignored
Dislikedusally btw now and 2 more hrs it usually forms a minimum 30 pip range
im still waiting for 239.50/58sih
back at frankie/ldnIgnored
DislikedI guess I'll toss my amateur analysis hat in the ring. For Longer term direction I use regression analysis. Looking at my weekly chart below it shows we are still in a slight downtrend.
Price wants to and will gravitate to the aqua center line while bouncing between the brown lines and the further it deviates the more likely it is to pull back. Statistically there is a 5% chance that price will breach the blue line (2 sigma) and less than 1% chance that it will breach the red line (3 sigma).
What does this mean? Its simple. When price hits the blue line there is a 95% chance of a significant retrace or outright reversal, and if it touches the red line its a 99% chance.
While these lines are moving targets, right now the blue line is about the 239.70 area and red is 244 area.
That being said, I'll be shorting this bad boy at 239 for a long term trade and expect it to retrace to 236 at the very least or 231 one a bigger retrace. A reversal could send this guy to sub 219 before the bulls force a rally. Just my 2 cents.Ignored
Dislikedusally btw now and 2 more hrs it usually forms a minimum 30 pip range
im still waiting for 239.50/58sih
back at frankie/ldnIgnored
Dislikedam serousily looking your move today, hopefully your advice of waiting for 239.50 before going long would be right, thanks am waiting along with youIgnored