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Price is everything

  • #18,021
  • May 14, 2011 6:55am May 14, 2011 6:55am
Musings on GU
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  • #18,022
  • May 14, 2011 7:54am May 14, 2011 7:54am
And our best friend and worst enemy, silver

I won't even try to predict next week's action on this
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  • #18,023
  • May 14, 2011 8:05am May 14, 2011 8:05am
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if the demand level holds into wedge, very good RR for many scalps north into wedge, can play out for days


if demand gives way, likely to drop quite hard to lower part of pole



will be scalping this next week every bullish PA in that demand zone
  • #18,024
  • May 14, 2011 8:23am May 14, 2011 8:23am
Quoting redsword11
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if the demand level holds into wedge, very good RR for many scalps north into wedge, can play out for days


if demand gives way, likely to drop quite hard to lower part of pole



will be scalping this next week every bullish PA in that demand zone

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similar low risk buys into developing wedge on FTSE too


can play out for many entries
  • #18,025
  • May 14, 2011 8:36am May 14, 2011 8:36am
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more scalping ahead if this bearflag holds, this flag can rise all the way back up to the source of drop of the pole


this setup can last for a week
  • #18,026
  • Edited 8:53am May 14, 2011 8:42am | Edited 8:53am
Thanks Red

Ideas on crude
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  • #18,027
  • May 14, 2011 8:45am May 14, 2011 8:45am
Quoting Ifmyante
Thanks Red

Ideas on crude
You guys are showing "Any time frame any pair" but we now need to "Any instrument"

Thanks to all
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #18,028
  • May 14, 2011 9:05am May 14, 2011 9:05am
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ab-cd competes cycle @ uptl as it appears


PA watch for buy
  • #18,029
  • May 14, 2011 10:20am May 14, 2011 10:20am
I guess engulfings don't work all the time. I think they don't work when price engulfings previous candle but encounter on significant resistance/support.
Here is some mistake i did on Friday based on engulfing, thought it's gonna rally up 'cause in my opinion 1.4305 wasn't big resistance for such huge engulfing.
It was Friday 13th so i guess nothing makes sense

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  • #18,030
  • May 14, 2011 10:30am May 14, 2011 10:30am
Quoting fx111
I guess engulfings don't work all the time. I think they don't work when price engulfings previous candle but encounter on significant resistance/support.
Here is some mistake i did on Friday based on engulfing, thought it's gonna rally up 'cause in my opinion 1.4305 wasn't big resistance for such huge engulfing.
It was Friday 13th so i guess nothing makes sense

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Engulfing only means something when it is proving to you the presence of a stack of orders. You have to decide which supply/demand zones are the most attractive then wait for the institutional order flow to reveal itself (engulfing). Its not about the pattern.
  • #18,031
  • May 14, 2011 10:39am May 14, 2011 10:39am
Quoting fx111
I guess engulfings don't work all the time. I think they don't work when price engulfings previous candle but encounter on significant resistance/support.
Here is some mistake i did on Friday based on engulfing, thought it's gonna rally up 'cause in my opinion 1.4305 wasn't big resistance for such huge engulfing.
It was Friday 13th so i guess nothing makes sense

Attachment
Also be aware the engulfing pattern you are referring to was the result of a news release at 8:30 EST. News = instability
  • #18,032
  • Edited 10:55am May 14, 2011 10:43am | Edited 10:55am
Natural Gas is looking bearish on the daily and H4, but not exactly so on the weekly.
Even the M30 isn't fully readable......... Yet
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  • #18,033
  • May 14, 2011 11:20am May 14, 2011 11:20am
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  • #18,034
  • May 14, 2011 1:09pm May 14, 2011 1:09pm
Very precarious situation on EU right now.

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  • #18,035
  • May 14, 2011 1:54pm May 14, 2011 1:54pm
Quoting Orbital
Very precarious situation on EU right now.

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  • #18,036
  • May 14, 2011 3:37pm May 14, 2011 3:37pm
US Dollar Index thirty minute channel with two demand levels highlighted in orange
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  • #18,037
  • May 14, 2011 3:46pm May 14, 2011 3:46pm
/ES monthly
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  • #18,038
  • May 14, 2011 4:43pm May 14, 2011 4:43pm
looking at the big picture with the spirit of Nostradamus
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  • #18,039
  • May 14, 2011 6:53pm May 14, 2011 6:53pm
Hey guys I decided that I want to make a simple video series on supply and demand for beginners, something that I would have wanted to see as I was learning. I'm uploading the first video now.
  • #18,040
  • May 14, 2011 7:00pm May 14, 2011 7:00pm
great



Quoting frankkn
Hey guys I decided that I want to make a simple video series on supply and demand for beginners, something that I would have wanted to see as I was learning. I'm uploading the first video now.
Trading is all about probability, low risk/high reward ,buy low/sell high
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