DislikedIll be watching this EURUSD to see if the weekend gap closes. I have a theory that the gap creates a vacuum with no orders and price loves to move through a vacuum. {image} {image}Ignored
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DislikedIll be watching this EURUSD to see if the weekend gap closes. I have a theory that the gap creates a vacuum with no orders and price loves to move through a vacuum. {image} {image}Ignored
Disliked{quote} Exactly. thats why stoiter is betting against them. e.g. looking at the AU chart trend is down....looking at oanda's client positions they are long....basically bet against oanda's client positions. the truth is i've seen this style of trading before. you might as well forget about client position and just look at the charts and follow the trends as the clients are always against it.Ignored
Disliked{quote} Thanks for stopping by Tylerbose! Im not implying that retail orders affect the market. Its more that It gives an idea of the sentiment of the losing traders. As mainly a breakout trader I use this information to gauge where clusters of orders are likely to be. This small view into the retail traders mindset somehow does relate to the broader market as i see these levels get run through time and time again. Sure there are false breakouts but that is part of the game. I suspect even at the big end of town there are losing discretionary traders...Ignored
DislikedEURGBP did indeed pop nicely as the stops were hit. Moved SL up. This could easily come back and take me out but there are a TON more stops above 0.8750 with alot of upside room to move this one. {image} {image}Ignored
Disliked{quote} Stoiter, Many thanks for the effort you are taking to post the charts. In the above chart, you say "No support can mean no resistance next time price moves through". My understanding is when the support failed to hold, it means there were no buy orders to boost the price up. So if the price comes back to the same level (changed now to a resistance), shouldn't it exhibit the same behavior i.e. lack of buy orders and even fall further instead of going up? I am sure, I am missed the nuance of your logic. Kindly guide me in better understanding...Ignored
Disliked{quote} Hi Aaven, I guess a picture shows a thousand words. Im not great at writing down my thoughts, which is another reason for me to continue this journal. Anyway onto the chart. Whenever price moves sharply in one direction all the orders get triggered (both long and short). If price turns around lets say due to profit taking or new buyers or sellings coming in(or a million other reasons that cant be known), there is now a vacuum where there aren't many orders anymore. The term "path of least resistance " could be used. lack of orders means...Ignored