" Support/Resistance is your friend .. and TREND your girlfriend .. "
- #41,546
- Nov 28, 2012 11:08am Nov 28, 2012 11:08am
hi artfuldodger, im not sure if im missing something, the indicator i got from the first page was tro_tunnel_dragon.
If i change the colours - #1-3 in the colour settings it doesnt do much, i'm wondering how to get the wave to be filled in with one colour and change the opacity so its quite see through like in that post...
sorry if this is a stupid question
If i change the colours - #1-3 in the colour settings it doesnt do much, i'm wondering how to get the wave to be filled in with one colour and change the opacity so its quite see through like in that post...
sorry if this is a stupid question
- #41,547
- Nov 28, 2012 11:52am Nov 28, 2012 11:52am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
hi artfuldodger, im not sure if im missing something, the indicator i got from the first page was tro_tunnel_dragon.
If i change the colours - #1-3 in the colour settings it doesnt do much, i'm wondering how to get the wave to be filled in with one colour and change the opacity so its quite see through like in that post...
sorry if this is a stupid question
I guess it was the devil - tp 1 reached
Regards,
H.
I want to know your opinion about situations where price is re-testing support or resistance and you are not in the trade. When is the right time to enter the trade in the direction of the market? What are the best odds to know if support / Resistance is broken? As an example, please look at the attached chart, I re-entered long at 1.3002 when price pushed high for the 2nd time with a hope that resistance is broken but price pulled back immidiately and later hit my stop loss? Appreciate to let me know your approach on this situation.
Daniel3167
Thank you TAH.
This is what I was searching for the whole time but I never seemed to find this post amongst the mass of pages.
- #41,552
- Edited 2:34pm Nov 28, 2012 2:17pm | Edited 2:34pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
Market Comment:
Okey Sonicers, we did not see the market perform actual whipsaws as previously discussed. However, the market did perform decidedly pro-USD until late in the LS. But what happened then? Not whipsawing, but a concentrated effort by the market to move everything back in the anti-USD direction. Are these "reversals" indicative of genuine sentiment? Absolutely not! Not if the volume means anything, because without exception these late LS "reversals" attracted more trading the further they went. More than likely the market simply maneuvered prices to "reset" them for renewed position building, with more pro-USD movements to come. This is all to the same effect as would have been the anticipated whipsaws, except with this strategy the market players have decidedly more time to "load up". Either way, with whipsaws or "reversals", the market creates liquidity for it's own orders by triggering SLs on existing "right side" positions of others, and by triggering pending "wrong side" orders of others. That has been done. And now prices are back where they favor the market's continued position building. (See attached charts, updated from those posted earlier in the day.)
As always, we need be attentive to the Dragon and the way PA behaves around S&R, because regardless of "trends" a move in either direction can occur. And it matters not whether the move is due to genuine buying/selling, or disengenuous price maneuvering. Either way, the move can be tradeable, given a proper Sonic R. setup.
Good trading to all Sonicers,
-tah
Okey Sonicers, we did not see the market perform actual whipsaws as previously discussed. However, the market did perform decidedly pro-USD until late in the LS. But what happened then? Not whipsawing, but a concentrated effort by the market to move everything back in the anti-USD direction. Are these "reversals" indicative of genuine sentiment? Absolutely not! Not if the volume means anything, because without exception these late LS "reversals" attracted more trading the further they went. More than likely the market simply maneuvered prices to "reset" them for renewed position building, with more pro-USD movements to come. This is all to the same effect as would have been the anticipated whipsaws, except with this strategy the market players have decidedly more time to "load up". Either way, with whipsaws or "reversals", the market creates liquidity for it's own orders by triggering SLs on existing "right side" positions of others, and by triggering pending "wrong side" orders of others. That has been done. And now prices are back where they favor the market's continued position building. (See attached charts, updated from those posted earlier in the day.)
As always, we need be attentive to the Dragon and the way PA behaves around S&R, because regardless of "trends" a move in either direction can occur. And it matters not whether the move is due to genuine buying/selling, or disengenuous price maneuvering. Either way, the move can be tradeable, given a proper Sonic R. setup.
Good trading to all Sonicers,
-tah
- #41,557
- Nov 29, 2012 12:59am Nov 29, 2012 12:59am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #41,558
- Nov 29, 2012 1:06am Nov 29, 2012 1:06am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #41,559
- Nov 29, 2012 1:13am Nov 29, 2012 1:13am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
