We also have harmonic pattern forming at 0.618. If it is valid - one more strong short signal.
Cheers
Cheers
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Any news ???That move this rally up???I am just wondering how this happens i was expecting a move down so wonder why this goes up when somehow it's overbought...i thought that there must be down move rather than this...
- #9,470
- Apr 13, 2009 8:29am Apr 13, 2009 8:29am
- Joined Oct 2007 | Status: Pip Seer | 1,299 Posts
Pip what you see; See what you pip!
- #9,471
- Apr 13, 2009 8:30am Apr 13, 2009 8:30am
- Joined Oct 2007 | Status: Pip Seer | 1,299 Posts
i can't understand what's happening.. however i'm in gain.. but i dunno why
mmm -
Pip what you see; See what you pip!
- #9,473
- Apr 13, 2009 9:39am Apr 13, 2009 9:39am
i can't understand what's happening.. however i'm in gain.. but i dunno why
Picture a gymnasium with a ping pong ball in the center of the floor. The position of the ball represents the current price. The ball is surrounded by thousands of people. (Its more fun to picture these people dressed in 3 piece suits, but you get the idea...) Now the bigger and stronger groups (traders) are able to muscle their way down close to the ball where they can have a greater effect, but everybody in the place is trying to blow the ping pong ball the direction they want it to go or at least observe which way it is heading.
The bigger traders or groups of traders are able to blow the ball the way they want to for a while, but then they get tired and either another big boy comes in and takes their place or those that want the ball to go the other way blow it back. World events can dictate where people position themselves. Sometimes, something happens where everybody gets on one side or at least gets out of the way and the ball goes for a long run in one direction. Over a period on days and months, this almost become a dance - everyone blowing on the ball - sometimes holding it in place - not because there is no force on the ball - but because the forces from all sides are equal.
The movement of the ping pong ball is the price action. We study it, and can (or try to) predict where the ball is going to go. Yet, on days like today, when large groups of traders are not in the gym to blow the ball, the price action may not act like it normally does. The groups that normally would stop a bull or bear run may not be there. Thus, risk tends to be higher and what is 'oversold level' on a normal day may not be 'oversold level' when not everyone is part of the action.
That is what you are seeing today. Many will sit out a day like today, and not try to trade. You may very well see things you do not normally see. Caution should the word of the day.
Another thing to be aware of, some brokers and banks etc, don't blow on the ball, but try to effect the ball by just inhaling. Whatever the reason, they just suck...
T...
- #9,474
- Apr 13, 2009 9:46am Apr 13, 2009 9:46am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #9,476
- Apr 13, 2009 9:59am Apr 13, 2009 9:59am
- Joined Oct 2007 | Status: Pip Seer | 1,299 Posts
Pip what you see; See what you pip!
- #9,477
- Apr 13, 2009 10:00am Apr 13, 2009 10:00am
- Joined Oct 2005 | Status: Trade the MAX System with me... | 1,995 Posts
- #9,478
- Apr 13, 2009 10:03am Apr 13, 2009 10:03am
- Joined Oct 2007 | Status: Pip Seer | 1,299 Posts
this is a VERY nutty day - I do 'see' divergences forming on 5 and 15 min charts - also on 1 hr. I say this just to give heads up - not that PA is going to behave characteristically today AT ALL!! PA is also touching or roaming around some t/l's and fib lines on higher t/f's on my charts right now - caution is the word - caution.
Pip what you see; See what you pip!
- #9,479
- Apr 13, 2009 10:04am Apr 13, 2009 10:04am
- Joined Oct 2007 | Status: Pip Seer | 1,299 Posts
I trade the M15 ONLY with THV indicators:
No need to set Trix MTF to 15 because you can see this indicator on your chart. Set the MTF for M60 and M240 to see H1 and H4 information.
Pip what you see; See what you pip!