The Thief of Wall Street
Re: EurUsd short term 15 replies
NFP nice bump up on EURUSD 2 replies
DislikedI agree that they can act as S/R, but not because of the gap.
Take the second one of the gaps you have circled:
It's a strong move down, the candles are hidden because our brokers are closed, however IMHO this is a valid supply level regardless of the gap down, we just can't see the candles.
The first one circled was closed due to intervention from the SNB, and it ignored the gap as a resistance and kept going on to a stronger resistance level above due to the force of the SNB's actions. Perhaps had the gap closed...Ignored
DislikedI agree. This is what I said earlier. These gaps may or may not get filled. It again depends what one calls a fill. Pa re-testing a resistance doesn't mean it will go right upto the point from where an overnight break started.
With all those one billion crazy trading methods, let gap trading be the one.Ignored
Dislikedyou're right. that's not dumb money moving price over the weekend. since the interbank is always open, banks make settlements and transfers inside and outside of regular retail market hours.
a real gap is actually large orders being filled at a rate too fast to register on a standard timeframe chart, but if you look at a nanex chart, you can see how this trading takes place in fractional seconds. (here's a silver nanex chart that demonstrates this type of move exactly. the entire price action on this chart represents a half second of trading.)...Ignored
Heres a thought move stoploss a bit lower on long did you say 200 ?Ignored
DislikedGaps are closed because it's an expectation, a self fulfilling prophecy. When everyone with money expects something to happen and does the same thing and trade based on that. The market is just concious Thought the only thing that affects the impact of the thoughts are how much money each individual behind them has. Hence being able to move the market in the direction of their own ideas/ concept of what should happen. Trading gaps are based on expectations and common ones that's why they so often close and bounce of the level of resistance. It's...Ignored
DislikedYes just below those Oct 28 low. I think the next demand area just not worth it, too small risk reward ratio for such trade. I am just taking chance here, won't hurt me much if this trade fail. BTW, there is no reason to hold my long if she moves down more than that and I will admit my loss if that happened. It's just another trade and I won't put too much thinking to over complicate thinks. Just sharing my ideas here, not trying to be a prophet or "one who know all" like many around.Ignored
DislikedI disagree with you here Tight... Although your partially correct, I think there is a larger, more important concept at play besides the "self fulfilling" aspect of it. It has to do with liquidity... or more importantly, degrees of commitment.
During the "pre market" session... if a trader, be it a bank, a hedge fund, soverigen state, or big retail trader, places an order in the market for $X amount... because of relatively "thin market" condition that exists before Asia really opens.... the market will move a greater range as it absorbs...Ignored
DislikedI am expecting more of a move up maybe from a low on Monday, circa 300 pips hard fall wiping out most of the 300 pip retrace followed by about a 800 pip rally June the 6-7 will be an important date for a turn in the eurusd.Ignored
DislikedLots of views and all very interesting. The big players knows where the buy or sell orders are so that ultimately is how it is. If there is no liquidity they will move the maket in a tight range and the those orders will be hit and stops will also be taken out, thus liquidity will be introduced because those that are losing will want to get back in and cover their losses. Now, I think that EURUSD will get to 1.2457 before the Greek elections. The party that wins will be the ones who are pro austerity. Then after that,the EURO will go to at least...Ignored