If it is becoming double IB, do you trade breakout of previous or the breakout of first inside bar?
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The smaller the bar the better. I am able to take three units with the bar size now and still have an acceptable risk. I am beginning to get a little worried though. I have not seen this type of hesitation on NFP in a very long time.
The smaller the bar the better. I am able to take three units with the bar size now and still have an acceptable risk. I am beginning to get a little worried though. I have not seen this type of hesitation on NFP in a very long time.
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It looks like the Seiden zone at 3015-3020 held but there isn't much selling either.
It looks like the Seiden zone at 3015-3020 held but there isn't much selling either.
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Thank you for the clear explanation. Maybe that 1,3000 level has something to with this. Just my two cents.
Do you maybe have time to answer, do you get out of your trades, when there are important "red" news coming or do you stay in the trades? I am talking about PMI realeases and such.
I still have some trouble to understand when to use which levels to trade. Sometimes price zigzags around day open sometimes goes through previous day low and so on. Have to try to find as clear rules to those decisions as possible. (going through the thread again, I think i have missed something and things come clearer, when reading again).
It looks like the fundamental traders want to buy and the risk on risk off types want to sell but right now nobody has the stones to pull the trigger. S&P opened down six and was as much as down 20 in the first minutes.
Thank you for the clear explanation. Maybe that 1,3000 level has something to with this. Just my two cents. Do you maybe have time to answer, do you get out of your trades, when there are important "red" news coming or do you stay in the trades? I am talking about PMI realeases and such. I still have some trouble to understand when to use which levels to trade. Sometimes price zigzags around day open sometimes goes through previous day low and so on. Have to try to find as clear rules to those decisions as possible. (going through the thread again,...
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Most of the time it will be the news that pushes price into our level. Just as happened yesterday when Draghi opened his speech with the downside risk language it was just the thing the banks needed to push price into the weekly low and trigger the orders there in order to get long. As I said yesterday I firmly believe that the CB's and the tier 1 banks work together to get prices where they want.
Most of the time it will be the news that pushes price into our level. Just as happened yesterday when Draghi opened his speech with the downside risk language it was just the thing the banks needed to push price into the weekly low and trigger the orders there in order to get long. As I said yesterday I firmly believe that the CB's and the tier 1 banks work together to get prices where they want.
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Ok. I keep this in mind!
I remember reading in Market Wizard books, that I am not sure, but maybe Lipschultz or some other great trader said that CB's inform each other of the important numbers beforehand and they inform big banks.
Ok. I keep this in mind! I remember reading in Market Wizard books, that I am not sure, but maybe Lipschultz or some other great trader said that CB's inform each other of the important numbers beforehand and they inform big banks.
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Yep its a stacked deck. That's why I try to figure out where they have their orders and take advantage. Value is at lows. Expensive is at highs. If they plan to take out the highs they will typically seek out value first.
Most of the time it will be the news that pushes price into our level. Just as happened yesterday when Draghi opened his speech with the downside risk language it was just the thing the banks needed to push price into the weekly low and trigger the orders there in order to get long. As I said yesterday I firmly believe that the CB's and the tier 1 banks work together to get prices where they want.
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Don't take my word for anything, but....
Appears this thing may want to go up and may have to wait another 5-10 minutes for it to go either way. I see as much upside as downside here. It's been knocking at OE 1.3000 for 10am ET, which as far as my data tells was only a vanilla, but we don't always have the whole enchilada either. Of course I have seen this where price will sit here for the rest of the day too and everyone is happy where it's at.
I see the same amount of pips to the up as down, but I just don't know who is going to push it! I have to decide if my tolerance is fit to latch on once I am signaled.
Yep its a stacked deck. That's why I try to figure out where they have their orders and take advantage. Value is at lows. Expensive is at highs. If they plan to take out the highs they will typically seek out value first.
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Purely speculation on my part I have no inside information, but I am sure only the CB's and tier 1 banks have the power to start these big moves. Of course their moves begin to fire off all the indicators and price action triggers and cause other traders to take action.
