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Romancing the Price

  • #361
  • Jul 2, 2011 11:13am Jul 2, 2011 11:13am
hope you are enjoying the weekend with all these candy like bars and charts Rufus..

not sure by not been able to load a chart in mt4.. do u mean u cannot find sp500 index on your platform.. ?

here is another spx chart with up [green] and down [red] fibs just for you Rufus...


Quoting Rufus
I have not figured out how to load a chart into my MT4 to check this out, but the original drop looks to be close to a 50% fib level as well.
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  • #362
  • Jul 2, 2011 12:41pm Jul 2, 2011 12:41pm
Quoting KennyZ
hope you are enjoying the weekend with all these candy like bars and charts Rufus..

not sure by not been able to load a chart in mt4.. do u mean u cannot find sp500 index on your platform.. ?

here is another spx chart with up [green] and down [red] fibs just for you Rufus...
I was trying to figure out if I could take a posted chart and drop it into MT4. I don't have SP500 index on my platform....If I did I would be trading it. I have some friends who tear up E-minis all with fibs, S/D, etc.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #363
  • Jul 2, 2011 1:38pm Jul 2, 2011 1:38pm
My weekly view on the SPX

http://www.hotstockmarket.com/image/...t/500/flags/LL
  • #364
  • Jul 3, 2011 12:32pm Jul 3, 2011 12:32pm
here is my take on sp500 index..

please keep in mind, my supply and demand zones marking and thinking may differ from conventional ones..
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  • #365
  • Jul 3, 2011 1:03pm Jul 3, 2011 1:03pm
ok finish reading this thread twice.

Now on the pdf files.

But wow I think this thread is awesome.

Hope I can catch up with you all later when finish reading and trying to understand.

Peter
  • #366
  • Jul 3, 2011 4:06pm Jul 3, 2011 4:06pm
hi if,

if you are around could you please correct demand zone and analyse?
thanks
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  • #367
  • Jul 3, 2011 4:40pm Jul 3, 2011 4:40pm
Quoting riko2705
hi if,

if you are around could you please correct demand zone and analyse?
thanks
You're looking at the right areas alright.

Some other points of interest are on the chart. I wouldn't keep such a messy chart, this is purely for demonstration.

Best

If
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  • #368
  • Jul 3, 2011 4:47pm Jul 3, 2011 4:47pm
Quoting Ifmyante
You're looking at the right areas alright.

Some other points of interest are on the chart. I wouldn't keep such a messy chart, this is purely for demonstration.

Best

If
thank you
good trading to all
  • #369
  • Jul 3, 2011 5:56pm Jul 3, 2011 5:56pm
I was looking for a long term play in my stock portfolio and I came upon this chart for AAPL. What do you guys think of the past few month. Bull Flag? Lots of lower wicks soaking up demand though..making me feel that any wave of sellers coming in and drop this thing like brick. I have my demand zone marked for a safer location.
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  • #370
  • Jul 3, 2011 7:26pm Jul 3, 2011 7:26pm
can any 1 say why this did not work ?i see a engulfing on 6th candle ..
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Trading is all about probability, low risk/high reward ,buy low/sell high
  • #371
  • Jul 3, 2011 7:33pm Jul 3, 2011 7:33pm
Quoting mangalesh
can any 1 say why this did not work ?i see a engulfing on 6th candle ..
The way I see it, it tested the supply level multiple times while consolidating within in for a few bars. This tells me obviously the seller and buyer imbalance isn't as great anymore so caution has to be taken. Also the candle with the upper wick that spiked through the supply zone tells me plenty of supplies have been taken out. At the same time, this is a drop base drop not a rally base drop so it wouldn't be as strong of a level. Lastly, sometimes things just don't work out so its natural. My 2cents
  • #372
  • Jul 3, 2011 7:44pm Jul 3, 2011 7:44pm
so we just see a touch and react engulfing reaction once the candle is inside the zone ? or it may get some time inside the zone ?
Trading is all about probability, low risk/high reward ,buy low/sell high
  • #373
  • Jul 3, 2011 7:53pm Jul 3, 2011 7:53pm
Quoting mangalesh
so we just see a touch and react engulfing reaction once the candle is inside the zone ? or it may get some time inside the zone ?
It really depends. I'll let the other vets chime in on this since I'm relatively new as well. But as red said though, the key to mastery in this is chart time!
  • #374
  • Jul 3, 2011 7:57pm Jul 3, 2011 7:57pm
have shorted gold on the reaction..lets see how this works
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Trading is all about probability, low risk/high reward ,buy low/sell high
  • #375
  • Jul 3, 2011 7:58pm Jul 3, 2011 7:58pm
Remember to also discern the quality of the zone by how much time price spent in it the last time it was there
  • #376
  • Jul 3, 2011 7:59pm Jul 3, 2011 7:59pm
sure thanks


Quoting biDc
Remember to also discern the quality of the zone by how much time price spent in it the last time it was there
Trading is all about probability, low risk/high reward ,buy low/sell high
  • #377
  • Jul 3, 2011 8:00pm Jul 3, 2011 8:00pm
Quoting biDc
...This tells me obviously the seller and buyer imbalance isn't as great anymore so caution has to be taken...
Thats not true.Bearish Engulfing candle should show you that sellers exceed byers. By the way the trade was a winner. Chart spiked to a level where buyers exceed sellers(see 1h tf )so you should close some part of the trade or move your stop or whatever to protect your trade. And finally e/u is in an uptrend... actually the level where price turned against you is a level where you should buy

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Mangalesh please post your trades at PIV thread. Just post a chart with your trade and edit the same post with your result
  • #378
  • Jul 3, 2011 8:03pm Jul 3, 2011 8:03pm
Quoting atton
Thats not true.Bearish Engulfing candle should show you that sellers exceed byers. By the way the trade was a winner. Chart spiked to a level where buyers exceed sellers(see 1h tf )so you should close some part of the trade or move your stop or whatever to protect your trade. And finally e/u is in an uptrend... actually the level where price turned against you is a level where you should buy
I think what he meant was why the short did not work in the supply zone unless I am mistaken. In which case my bad !
  • #379
  • Jul 3, 2011 8:10pm Jul 3, 2011 8:10pm
Asian and Aussie markets open. Do we have a breakout? Wait for P.A. of course. Interesting to see what happens when London opens, but I think we will see the blue circled area above before blue rectangle will be breached. Anyone ever trade 4th July?
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  • #380
  • Jul 3, 2011 8:42pm Jul 3, 2011 8:42pm
....or a broadening pattern....
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