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Price is everything

  • #17,521
  • May 4, 2011 8:53pm May 4, 2011 8:53pm
Quoting frankkn
This is the time of day I come into this thread and talk to myself.

Yesterday I showed an unsuccessful trade at a level where the supply had been removed, then I walked away from the markets to miss the short at the next supply level up.

Today I want to talk about my choice of supply zones on the chart in the post I'm quoting....
My lady is over seas, so I can take time to consult with myself further.

I've circled the minor supply level I mentioned.

Highlighted with white arrows is the result of institutional orders, notice how strong the sell orders were, illustrated by a strong down move. Now look at the demand, which is illustrated by the feeble up moves.

I would love to see price make it to the green levels and show me one of two things on the 5m or 10m (or even the 15m)

1) Rejection wicks
2) Engulfing

I like my rejection wicks to be very prominent, and my engulfings to be very dominant. This doesn't always happen, and I miss some decent trades because of it, but I'm in it for consistent % growth not pips.
  • #17,522
  • May 4, 2011 8:54pm May 4, 2011 8:54pm
Quoting frankkn
This is the time of day I come into this thread and talk to myself.

Yesterday I showed an unsuccessful trade at a level where the supply had been removed, then I walked away from the markets to miss the short at the next supply level up.

Today I want to talk about my choice of supply zones on the chart in the post I'm quoting....
u talk, we listen

although you forget your charts.
  • #17,523
  • May 4, 2011 9:00pm May 4, 2011 9:00pm
Quoting frankkn
My lady is over seas, so I can take time to consult with myself further.

I've circled the minor supply level I mentioned.

Highlighted with white arrows is the result of institutional orders, notice how strong the sell orders were, illustrated by a strong down move....
Forgot chart
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  • #17,524
  • May 4, 2011 9:00pm May 4, 2011 9:00pm
Quoting sandpipper
although you forget your charts.
Every time man, every time
  • #17,525
  • May 4, 2011 9:16pm May 4, 2011 9:16pm
Quoting frankkn
Forgot chart
evening Frank!
  • #17,526
  • May 4, 2011 9:18pm May 4, 2011 9:18pm
Quoting frankkn
Every time man, every time
no worries. your writing is so compelling that we almost forget they are not there.
  • #17,527
  • May 4, 2011 10:43pm May 4, 2011 10:43pm
Not much going on tonight! So I will have to interject into the silence.

Watching for this demand level on the g/j. My Limit Order is set on the 50 fib....will prob scalp short to it on supply levels. Once there I will start building a long for a long termish type trade.
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  • #17,528
  • May 4, 2011 10:49pm May 4, 2011 10:49pm
Can someone describe what is happening here on the EU in terms of supply and demand? It is ranging back and forth...is this just showing indecision or agreement on price or something else? If yo zoom out you can see it is in a strong monthly supply zone....thus the aqua highlight.

thanks
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  • #17,529
  • May 5, 2011 12:15am May 5, 2011 12:15am
Quoting sandpipper
Can someone describe what is happening here on the EU in terms of supply and demand? It is ranging back and forth...is this just showing indecision or agreement on price or something else? If yo zoom out you can see it is in a strong monthly supply zone....thus the aqua highlight.

thanks
Its been ranging in a box for days now, diverging price trendlines indicating a breakout soon, coinciding with news today to "validate" ridiculous moves.

Eu has been set to breakout for quite some time, ive made a couple of videos about this and posted weekly analysis for quite some time in this thread outlining whats going on.

China tonight converted some more USD reserves into euros thus prompting a rise. Nothing new. The falling Gold/Silver prices have been keeping down the euro and holding it in check.

Expect 1.50/1.51 by the end of the week,

Inserted Video
here is the video for you and for weekly analysis id have to search my own posts.

Gu long on EU and GU today in the appropriate demand zones, GU blowing up to 1.67/1.68 and eu to 1.51 by the end of the week, should coincide with NFP.
  • #17,530
  • May 5, 2011 12:28am May 5, 2011 12:28am
Man...talk about a classic break out by the books...shit just never looks this perfect, figured it'd be worth the post...

5M chart on EUR/USD...

Follow the numbers with the description...really, a thing of beauty...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #17,531
  • May 5, 2011 12:45am May 5, 2011 12:45am
EU 4hr

Wait for cluster to resolve either side.
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  • #17,532
  • May 5, 2011 12:45am May 5, 2011 12:45am
EJ, playing classical wedge mind fuckery...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #17,533
  • May 5, 2011 12:56am May 5, 2011 12:56am
Cable
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #17,534
  • May 5, 2011 12:58am May 5, 2011 12:58am
UJ PA watch at this area for a possible buy.
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  • #17,535
  • May 5, 2011 1:15am May 5, 2011 1:15am
Quoting Magix
Cable
Love the perspective on that chart GO bulls!

heres what i see:
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But i have positions open at 6497 and 6530 with heavy sizes, waiting this one out expecting the bullrun unless this forms a double top, with 2 hours left on that 4hr chart we will have to see...
  • #17,536
  • May 5, 2011 1:27am May 5, 2011 1:27am
GJ stuck in a range.

If 132.45 support is broken next will be 130/131 demand area.
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  • #17,537
  • May 5, 2011 2:46am May 5, 2011 2:46am
bought crude @ 109.30 stop @ 108.27


MT BUY TG AREA 110.00
  • #17,538
  • May 5, 2011 2:59am May 5, 2011 2:59am
Loony is about to break south


awaiting sell
  • #17,539
  • May 5, 2011 3:35am May 5, 2011 3:35am
Hi Orbital,
Although I agree with your level, what about the Bearish Hidden divergence on H1 and H4 for Fiber?
Also, we have had 5months in a row of bullish trend (monthly) - I have never seen a 6th month bullish with this pair. I will keep long until 1.50ish then I think a drop should be of te order, what do you think?


Quoting Orbital
Its been ranging in a box for days now, diverging price trendlines indicating a breakout soon, coinciding with news today to "validate" ridiculous moves.

Eu has been set to breakout for quite some time, ive made a couple of videos about this and posted weekly analysis for quite some time in this thread outlining whats going on.

China tonight converted some more USD reserves into euros thus prompting a rise. Nothing new. The falling Gold/Silver prices have been keeping down the euro and holding it in check.

Expect 1.50/1.51 by the end of...
  • #17,540
  • May 5, 2011 3:37am May 5, 2011 3:37am
Quoting redsword11
bought crude @ 109.30 stop @ 108.27


MT BUY TG AREA 110.00

ADDED @ 108.81
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