Quoting [BDislikeddigger1[/b];3716832]excellent kill, as long as it works for you man and gets you the greenie lol, this chart shows a nice big picture of price action so far , price spent most of its time since rollover below the open , we had the nice push up to test the open then the drop down usually pretty easy to follow when the mkt is slow , if we are trading above the open you usually get the retest and a nice little push up . Its not talked about much but the open price really is the line in the sand most days worth paying attention too...Ignored
Picking trades based on the direction of price movement away from the open (up or down)
as the pair makes its committed move is the only thing that I can hang my hat on...
thereafter, it becomes a mass of t/a confusion for my pea-sized brain.
Based on the open and camarilla level you use... I took an earlier short prior to the open down
from 1.4976 to 1.4929 (L1 1.4927) [47 pips]. After the roll-over when it went back up to test
the open (1.4951) I shorted from 1.4949 as it touched and closed at 1.4905 near L1 (1.4901) [44 pips].
Shorted from 1.4910 and closed at 1.4889, just below the L2 (1.4891) [21 pips].
Now the confusion begins playing between the lines (or until another clean breakout occurs***)...
emphasis still remains trading in the direction away from the open which means continuing to take shorts...
atleast until it reaches L4 (1.4797) with weekly open and previous weekly close, weekly pivot and an L3 (1.4875)
in the way (or until ***).
I'm short from the pivot (1.4893).
The 'line in the sand' has my undivided attention.
Dr. D.
not far from it
