GU short trade
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- #60,424
- Oct 1, 2013 4:40pm Oct 1, 2013 4:40pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #60,425
- Edited 6:17pm Oct 1, 2013 5:19pm | Edited 6:17pm
GJ Long
I was about to close this at the highlighted area...but price was moving fast and I was hoping(I thought I had a runner at 111pips for 6 seeds avg(8 seeds show but 2 added today)..but I never closed
.) I mean it is the 160 level - should know better
this is what makes a pro-trader like TAH - the instant instinct to know
now I am back to the beginning... funny thing is that it made a spike right after I went to bed and then bears?? brought it back down.
I am still bullish but concerned...I think price should be hanging up in this area for a bullish break?
{quote} 5 hours later.. Patience is a key.. Sonic {image}
.) I mean it is the 160 level - should know betterthis is what makes a pro-trader like TAH - the instant instinct to know
now I am back to the beginning... funny thing is that it made a spike right after I went to bed and then bears?? brought it back down.
I am still bullish but concerned...I think price should be hanging up in this area for a bullish break?
Entries in the wicks over and over **PVSRA rules!
- #60,426
- Edited 7:08pm Oct 1, 2013 6:54pm | Edited 7:08pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
GJ Long {quote} I was about to close this at the highlighted area...but price was moving fast and I was hoping(I thought I had a runner at 111pips for 6 seeds avg(8 seeds show but 2 added today)..but I never closed
Will the trend be up today, or will more of the MMs drive price lower to add longs? That is the question for stalking traders because it is best that the MMs and the trend be the same before trading.
You are already long, so seeing bullish MMs may be of some comfort, but it remains to be seen what the trend turns out to be today.
- #60,428
- Oct 1, 2013 8:32pm Oct 1, 2013 8:32pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #60,429
- Edited 9:02pm Oct 1, 2013 8:43pm | Edited 9:02pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
This 2 fellas contradict my bullish thought.. Gonna careful & watch closely.. Sonic {image}
Sonic,
That relationship between price action and volume does not contradict the bullish outlook. It supports it. Here is why.
The high activity on the down thrust is because the MMs waited for a goodly number of liquidity providing pending short orders to go on the cheque, together with the stops of longs, and then drove the price down triggering those short orders long stops, and thus getting liquidity for their own long orders.
The lower activity while at the lows was just the bull MMs lingering there to sponge up whatever remaining liquidity for longs there might be.
The higher activity on the concluding up thrust was, obviously, the bull MMs continuing doing sufficient buying to force the price back up.
This is exactly how the MMs oscillate price to build, ending the price where they started from, but getting an average price that is even better!!!!!
I realize as I post this during the new Asian session, the price is being dropped even lower than those aforementioned lows. But, this too, is sort of "off hours" compared to the LS. So while the price goes lower and the activity shows higher at the lows of the shorter TF cycles in this move down, there is the ongoing evidence the MMs are bulls loading up on longs, seeking liquidity for their longs by forcing the price lower to stop out the long trades of others.
Time will tell.
-tah
- #60,433
- Edited 3:22am Oct 2, 2013 2:02am | Edited 3:22am
- | Commercial User | Joined Mar 2008 | 9,069 Posts
This 2 fellas contradict my bullish thought.. Gonna careful & watch closely.. Sonic
Sonic
Bravo 
- #60,437
- Oct 2, 2013 3:19am Oct 2, 2013 3:19am
- Joined Jan 2013 | Status: Trader | 1,107 Posts
I know the secret...
- #60,438
- Oct 2, 2013 3:35am Oct 2, 2013 3:35am
- | Commercial User | Joined Mar 2008 | 9,069 Posts
{quote} Hi Sonicdeejay Fantastic sir.,,,but i dont understand what u mention in that chart...y it contradict with ur chart and how?please explain me Thanks in Advance
Ok.. let me explain..
I started my week with cautious bullish mode..
Monday and Tuesday passed with nice winning long trades...
but Mkt starts to look suspicious after the gap closed, especially at Mark A.
A. Mkt sell down, Bearish engulfing candle with increase of volume..
B. Mkt swing back up weakly but "HUGH" vol appear when it hit near A level.. It start to contradict my bullish bias..
That why I posted my comment about contradiction..that I posted 6 hrs ago,,
The least I can do not to enter long and wait,,,
As the result, My SL@ BE trades are closed and at least I am spared form this bloodbath,,,
Sonic
