would have been nice if 158.35 was taken out.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #125,502
- Oct 23, 2008 3:32pm Oct 23, 2008 3:32pm
- Joined Oct 2007 | Status: Counter Trend, but not always! | 2,147 Posts
The bulls are certainly well-fed!
Anybody can kindly explain the possible reasons behind this 'breakout'?
Discipline + Patience - Fear - Greed = Success
- #125,506
- Oct 23, 2008 3:38pm Oct 23, 2008 3:38pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
The bulls are certainly well-fed!
Anybody can kindly explain the possible reasons behind this 'breakout'?
simple the last down move was test of the market to see if there were any sellers still around .. the volume was declining coming into the bottom = bullish so you got to look for some kind of reversal .. and what better number than 155 ....
I think that may have been some solid buying interest at this level ... only time will tell ....
Blogging daily now at www.volume.zone
- #125,507
- Oct 23, 2008 3:40pm Oct 23, 2008 3:40pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
simple the last down move was test of the market to see if there were any sellers still around .. the volume was declining coming into the bottom = bullish so you got to look for some kind of reversal .. and what better number than 155 ....
I think that may have been some solid buying interest at this level ... only time will tell ....
Attachment
look at 60 min .. volume decline coming into low even worse .... I think we see 164 before this time tomorrow
Blogging daily now at www.volume.zone
- #125,509
- Oct 23, 2008 3:43pm Oct 23, 2008 3:43pm
- | Joined Jun 2008 | Status: Trader | 1,079 Posts
I recommend you read something else as this sentence is now concluded.
- #125,511
- Oct 23, 2008 3:45pm Oct 23, 2008 3:45pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #125,517
- Oct 23, 2008 3:57pm Oct 23, 2008 3:57pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
I see a small pull back on the 5m, 15m. Where would it go before this so called bull to 164? I don't see any resistance if it does turn back bear
Blogging daily now at www.volume.zone
- #125,518
- Oct 23, 2008 3:59pm Oct 23, 2008 3:59pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
156.75 - 61.8 fib retracement of 154.49 - 158.14
IMHO
check out 4 hour ... if that was a narrow spread bar at bottom that would be selling climax .. high volume .. oh hold on it was a narrow spread bar ...lol
Blogging daily now at www.volume.zone
- #125,520
- Oct 23, 2008 4:03pm Oct 23, 2008 4:03pm
just a hunch ... and check out this 4 hour .... bullish div 60 and 4 hour candle pattern is bullish engulfing ..... seems a little to obvious to me
Attachment
I see. wasn't looking at 4h was just looking at short moves on other charts. thanks malcolmb
