i don't quite get your attached image, so it's says that 27,14% of the short position were openned at 1.9640 and will see big resistence at that level again?
thx
"Abandon all hope, you who enter here"
La Divina Commedia, Dante Alighieri
i don't quite get your attached image, so it's says that 27,14% of the short position were openned at 1.9640 and will see big resistence at that level again?
thx
Ignored
Yes it can be said like that. GBP/USD cross tries to change its way at levels where costs are accumulated but only 25 percent of those attempts accomplish. So, we should be careful about those points. But you should notice that we are almost at the start of the week and at that level only about 2 percent of weekly volume was made.
Yesterday short positions starting from 1.9640 were closed starting from 1.9590s to 1.9610s as we mentioned. After those closed positions, long positions became dominated to the market and we saw a boost today. New costs from 1.9640s was another important reason that helped the boost. We have reached to the point 1.9750 and then saw some small short positions around here. But shorts from 1.9730 are considerable. we can try short positions around here but be careful about 1.9760. In case we reach 1.9760 we should change our positions to long and keep our stops small. Because first 30 pips over 1.9730 are important and in case we pass over we should shift our way to up fastly. But if we cant go over 1.9760 our way is down.
As you can see in today's graphs, trade is so easy with this system. Too many longs from 1.9610 are clear and as a result we saw a boost of 135 pips.
Yesterday short positions starting from 1.9640 were closed starting from 1.9590s to 1.9610s as we mentioned. After those closed positions, long positions became dominated to the market and we saw a boost today. New costs from 1.9640s was another important reason that helped the boost. We have reached to the point 1.9750 and then saw some small short positions around here. But shorts from 1.9730 are considerable. we can try short positions around here but be careful about 1.9760. In case we reach 1.9760 we should change our positions to long and keep our stops small. Because first 30 pips over 1.9730 are important and in case we pass over we should shift our way to up fastly. But if we cant go over 1.9760 our way is down.
As you can see in today's graphs, trade is so easy with this system. Too many longs from 1.9610 are clear and as a result we saw a boost of 135 pips.
Ignored
When would we know if we can or cannot hit 9760? Is there a time frame at all?
When would we know if we can or cannot hit 9760? Is there a time frame at all?
Ignored
There is no timeframe. We can not predict the future as you appreciate. But we are close to determine that which way is more possible with our analysis. Before the big move we can mostly predict the way. And this is very sufficient.
Yesterday we have already mentioned that 1.9760 is important and after we break over that point we saw a 60 pips run. Since we are still over this point it is more possible to go up. But costs around this point are more likely to be short so traders that determines their strategies as short should be careful of this point in near future.
I'm not fully understanding your analysis. How do you determine which prices to choose? For instance, in your latest chart, you have 1.9730 as a long position. Why did you choose that price as opposed to 1.9720 or 1.9710 since the number of positions percentage wise are not that far from the ones at 1.9730?
I'm not fully understanding your analysis. How do you determine which prices to choose? For instance, in your latest chart, you have 1.9730 as a long position. Why did you choose that price as opposed to 1.9720 or 1.9710 since the number of positions percentage wise are not that far from the ones at 1.9730?
Ignored
Approx. 3 days ago 1.9730 was most intense area. And another reason was last week 1.9710-1.9730 area was the most important area. So when you are analyzing you should think a little wider.
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Joined Sep 2005
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Status: pip whisperer
|361 Posts
This is interesting. Although your chart is kinda hard to distinguish whether the price's bar is giving buy or sell orders percentages. Why is there a comma in there and what does the first number mean? It's a little confusing.
This is interesting. Although your chart is kinda hard to distinguish whether the price's bar is giving buy or sell orders percentages. Why is there a comma in there and what does the first number mean? It's a little confusing.
Ignored
The comma is what most Americans would call "point" or period. In some countries the comma and period are switched around. So if I had Ten thousand dollars and 50 cents, it would be $10.000,50
The first number is the price, just without the period. So 19640 is 1.9640
Hope that helps,
andersenws
"Youth is the trustee of prosperity." - Benjamin Disraeli
It is hard to make comments about market on days like these days since the market is going stable and generally horizantal. Clearly seen short positions signal us a fall but there are several things that we must be careful about. One example to this is that although there are short positions around 1.9770, we are at 1.9790. We mean that market is going just opposite to the positions it made. We can explain this situation that; At the start of the week,most of those orders which were opened at 1.9610 have already been closed at 1.9770. Big traders can make this kind of action in order to provide cash for their future needs. For example; they are parting their 100.000 contracts always for trade. For this week we can say that they have made a run up to 1.9810 with their 79.000 contracts. But since their power is lessened to make it more up, they are closing that positions and again they have the opportunity to open another 100.000 contracts. So if they plan to move up to 1.9900, they can achieve this easily. They are making this kind of action before fast crosses and now prices we are living show us this action. Approx. 3 weeks ago, the market went up tı 1.9820 which was moving opposite the short positions of 1.9670. So, the strategies for both ways should be around 1.9770. Those who has short positions should follow 1.9820 as a close & reverse point which is 3 weeks resistance. And those who has long positions should maintain their positions watching 1.9770-1.9750. This kind of strategy will be more suitable. On these days that we are just close to big moves, we think that traders should be ready for two ways with their strategies. You can catch 100-150 pips moves trading with little stops while being careful about levels we mentioned.
P.S : Amounts of contracts for this comment are not real values, just given as examples.
The comma is what most Americans would call "point" or period. In some countries the comma and period are switched around. So if I had Ten thousand dollars and 50 cents, it would be $10.000,50
The first number is the price, just without the period. So 19640 is 1.9640
Hope that helps,
andersenws
Ignored
Eh, thanks man. It at least clears up the comma dealio.
Still wonder whether the number is a buy or sell order and how can you tell the different....
There are special traders for this job, who are analyzing the market for that and who are inside the market.
Ignored
So it takes a 'special trader' to be able to tell whether that number at the end of the bar on your graph is a buy or sell percentage? I guess I'm not 'special' enough.....
So it takes a 'special trader' to be able to tell whether that number at the end of the bar on your graph is a buy or sell percentage? I guess I'm not 'special' enough.....
Ignored
Yes, it needs a professional approach but as you can see, our graphical illustrations are very much easy to understand. We have cost analysis of other 3 major curencies including Eur/Usd, Usd/Jpy, Usd/Chf. Then we analyze the way of the market and the positions if they are a long or short by looking other currencies. We have some other analysis methods.
Last week we have already mentioned that our long positions would continue in case we go over 1.9820. Our positions were from 1.9770. Long red bar shows closed positions at which traders need more cash for new highs. We explained this last week and yesterday we saw highs up to 2.010s.
This means a profit up to 240 pips. Thanks to cost analysis.
Trades are accumulated around 2.0040-2.0060 levels today. We think that traders should abstain from long positions as long as we are under 2.0110. We should be careful about 2.0040, since it will be important to determine new trend for us.
Last week we have written that 2.0040-2.0060 level was important and suggested you not to open long position until we passed 2.0110. we have seen a fall of 100 pips from 2.0040-60 area. But in last two days we have seen many long positions around 1.9990. It will try to pass over 2.0110 level in case there wont be an hourly close under 1.9960.
