DislikedThis is the news bar for PPI. This could be viewed as a failed news trade but there is a tradable and repeating pattern here. Anyone?Ignored
My 2 cents on how I view it.
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DislikedThis is the news bar for PPI. This could be viewed as a failed news trade but there is a tradable and repeating pattern here. Anyone?Ignored
DislikedI did not trade the breakout of the news bar because of 1.31 above.Ignored
DislikedFailure to close outside the range usually means it is going to the other side of the range.
(Although it could be something else which I have not yet seen/grasped)Ignored
DislikedI just posted a chart. Look at the bracketed area. What do you see happening here? What possibly happens if there is a close outside this area?Ignored
DislikedNo you are on the right track. Now look closely at the candles. The 08:45 broke out then closed back inside. Where might you want to place a sell order?Ignored
DislikedThis is the news bar for PPI. This could be viewed as a failed news trade but there is a tradable and repeating pattern here. Anyone?Ignored
DislikedSP, It goes the direction of the breakout. This time , the market is always closing in the range though it showing the trend to the downside.Ignored
DislikedNo you are on the right track. Now look closely at the candles. The 08:45 broke out then closed back inside. Where might you want to place a sell order?Ignored
DislikedNo you are on the right track. Now look closely at the candles. The 08:45 broke out then closed back inside. Where might you want to place a sell order?Ignored
DislikedIsn't this a beautiful bull flag? It's just not something Seneca had used in this thread , so maybe it doesn't really fit here...
On the other hand if it breaks out to the down side maybe the re-test is tradeable.
But then again,it's the end of the trading day... Also the end of the trading week.Ignored
DislikedNo you are on the right track. Now look closely at the candles. The 08:45 broke out then closed back inside. Where might you want to place a sell order?Ignored
DislikedI said I did not long, but I shorted below the 8:45 candle with s stop order for a short scalp...stop goes above high of the candle.Ignored
DislikedThat is not the case with my platform. I cross checked with Oanda and i see that they are a little different.
Your candle 08:45(Oanda) or 14:45 (On my Platform, broke out then closed outside.)Ignored
DislikedNo three tenths of a pip is not a close outside you need to be able to see it. When there is no follow through on a big candle like this you can usually make a nice trade in the other direction. This is similar to the inside candle trading with NFP.Ignored
DislikedThis is why I don't trade patterns. Some people see a bull flag or pennant. Others will see a descending flat bottom triangle. Both have very different results.
I see a news bar which has resulted in short term support and resistance. Tantum is probably right that there was a very big seller up there eating up the breakout players in order to get short. There also could have been a big option player who needed to push price away from 3100 before ten NY cut off.Ignored
DislikedSP wasn't sure if you liked me previously referring to option barriers, so I did not state this. Both the spike to 1.3100 and 1.3050 were the options in play today. 1.3100 resisted spike up and 1.3050 is the current base and the option probably attracted more orders since this area is still in play. Now if I was the big seller playing off the news spike to gain more orders I am going to piggy back the option to do so because if I am not the option holder it would take less of my capital to hold the price and move it down. I believe they were both...Ignored
DislikedNo you are on the right track. Now look closely at the candles. The 08:45 broke out then closed back inside. Where might you want to place a sell order?Ignored
DislikedIt definately looks like someone is holding it above 3050. Its made easier after London close, thinner market now. When this option goes out look out below. I can't find the expiry on this one looked everywhere I know to look. It must be vanilla as there would be no reason to defend if DNT.Ignored
DislikedThis Q&A game is really cool. Also , I think it's one of the best ways to teach.
I know I'm a bit slow (maybe not just a bit) but I still don't get it.
Where should we have sold? If it's under the 8:45 candle, then how on earth could you know that it's a turn to the down side,and not just a momentary "rest" of the price and the next candle is going to be a continuation of the news break out.
Also , why not just wait to the re-test of the hight of this new range and sell it again? If there really is a big player, I would assume that for...Ignored
DislikedYes, it was a vanilla and is another one on Monday at this level. The only reason I thought it may be important is because it rejected this morning at 7:30 NY time and then the news rejected almost to the pip (1 pipette only) on my feed.Ignored