[quote=Trader_X;4644264]ive posted a chart of the current EU 1h chart..i placed arrows(that correspond with the vol) and labeled them..(stole this idea from belikewater!) below are my answers...any response from the grooup is much appreciated...best regards, john
A) im gonna say upthrust..(.im finding different definitions for the volume on upthrust, some say low , others high, not sure)
B) "test"...i believe a test is normally a downward bar but what i think is SM is testing to see if theres any demand here before they sink it..
=> this look more like and hidden up thrust, with low volume, clearly this cannot been take as a test as it makes a new high ( IMO )
=> this could be a classic No demand bar if the close was slightly higher,
given that this is in the same area of the upthrust and that the volume is a lot less, it is a nice short
C) Bottom Reversal...the spread really isnt that wide but its the only defination i could find discribing this action
=> I would not consider it as a bottom reversal, the range of the bar are too large small as you saw , can't say too much on this
D) Test,Failed..volume to high
there supply in this bar for sure ( and demand, large interest here so might goes revisit this area),
folowing is ND bar, at this point I would be still happy with my short
E) Shakeout..
demand overcoming supply again, I would move my stop few pip above the NO demand bar
F) have no idea
I would regroup F and the two previous bars to read it like a top reversal, with volume less important in the down move ( I like it for top reversal) , right at the level of the Hidden UT that trigger the potential short. Next bar is No demand,
last bar ... I don't know if it is a finished bar ? ( this would be a no demand) again
which way will the market go? because i dont know what F is im not sure and i since i dont know then at this point i would just wait !!!
On the basis on the chart you provide and only on this, I say this is going south !
I'm not an expert at all, just giving my opinion
Sambo
A) im gonna say upthrust..(.im finding different definitions for the volume on upthrust, some say low , others high, not sure)
B) "test"...i believe a test is normally a downward bar but what i think is SM is testing to see if theres any demand here before they sink it..
=> this look more like and hidden up thrust, with low volume, clearly this cannot been take as a test as it makes a new high ( IMO )
=> this could be a classic No demand bar if the close was slightly higher,
given that this is in the same area of the upthrust and that the volume is a lot less, it is a nice short
C) Bottom Reversal...the spread really isnt that wide but its the only defination i could find discribing this action
=> I would not consider it as a bottom reversal, the range of the bar are too large small as you saw , can't say too much on this
D) Test,Failed..volume to high
there supply in this bar for sure ( and demand, large interest here so might goes revisit this area),
folowing is ND bar, at this point I would be still happy with my short
E) Shakeout..
demand overcoming supply again, I would move my stop few pip above the NO demand bar
F) have no idea
I would regroup F and the two previous bars to read it like a top reversal, with volume less important in the down move ( I like it for top reversal) , right at the level of the Hidden UT that trigger the potential short. Next bar is No demand,
last bar ... I don't know if it is a finished bar ? ( this would be a no demand) again
which way will the market go? because i dont know what F is im not sure and i since i dont know then at this point i would just wait !!!
On the basis on the chart you provide and only on this, I say this is going south !
I'm not an expert at all, just giving my opinion
Sambo