Auction Market Theory and Market Profile
- #8,747
- Oct 11, 2019 6:54am Oct 11, 2019 6:54am
- Joined Sep 2015 | Status: ob-la-di, ob-la-da, life goes on... | 4,499 Posts
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
In my previous overview about #Gold I wrote this maket did trading in the range of balance between 1500-1520 levels. As a result, we got the formation of big "bell shape" in market profile.
Yesterday, we got first clue about future direction with breaking of minor blue support line.
1) Selling of pressure to break down the minor blue support line
At the opening of today's session, chart confirmed the market's intention.
2) Trap for bulls at the opening of the session (I use data from Moscow exchange, futures section). Green clusters represent: a) buyers are entering Trap b) sellers are knocking out from good positions
3) Another portion of genuine Supply (Selling Pressure).
So, Buying Culmination + EVRT on 03/Oct revealed its power - the Market broke down 1500 level. It should act as resistance. Sentiments are negative. Next week should produce the development of decline. Breaking out above 1500 with the bullish style will invalidate the bearish course.
Yesterday, we got first clue about future direction with breaking of minor blue support line.
1) Selling of pressure to break down the minor blue support line
At the opening of today's session, chart confirmed the market's intention.
2) Trap for bulls at the opening of the session (I use data from Moscow exchange, futures section). Green clusters represent: a) buyers are entering Trap b) sellers are knocking out from good positions
3) Another portion of genuine Supply (Selling Pressure).
So, Buying Culmination + EVRT on 03/Oct revealed its power - the Market broke down 1500 level. It should act as resistance. Sentiments are negative. Next week should produce the development of decline. Breaking out above 1500 with the bullish style will invalidate the bearish course.
Oleg Alexandrov, market analyst. Find me in Google
- #8,751
- Edited 8:58am Oct 12, 2019 8:06am | Edited 8:58am
- Joined Jan 2018 | Status: Trader | 17,298 Posts
- #8,752
- Edited Oct 13, 2019 3:19am Oct 12, 2019 11:25am | Edited Oct 13, 2019 3:19am
- Joined Sep 2015 | Status: ob-la-di, ob-la-da, life goes on... | 4,499 Posts
GBP/AUD
...sell the rips
EUR/JPY
...sell the rips
...just be aware that there was a fierce weather condition that happened in Tokyo. Opening gap-up may happen.
...sell the rips
EUR/JPY
...sell the rips
...just be aware that there was a fierce weather condition that happened in Tokyo. Opening gap-up may happen.
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
- #8,759
- Oct 15, 2019 12:54pm Oct 15, 2019 12:54pm
- Joined Jan 2018 | Status: Trader | 17,298 Posts
{quote} Hi Kette, is my understanding for your picture below is correct ? {image}
