@ gigapip: I used to upload on imageshack but just now I chose Photobucket and copied the IMG code and pasted on the post, now the image is very clear Now, I stick to photobucket.
Itās a tough chart to read right now, but you brought some clarity. Nice post.
Notice also on that chart posted by Luiz, the low volume at higher prices every time. Then price floats back down. To me that says no buy interest up there. But by definition, aside from that first effort to rise area, this is accumulation. I define it by High Volume down bars and higher Volume at the lows, in a range.
My conclusion has to be that there will be further accumulation, pushing down to the lowest price possible first. THEN there will finally be a real consensus to move it back up. That translates into a spring on high volume (fake breakout low) or another leg down that hits large stopping vol to start an up trend again.
It already starts to explain fridays big drop with out first seeing stopping volume at the top.
wow! i like how you guys analyse that and surely is good to see this bigger picture. I need to go back to my charts again and study some more too :19:. It should be interesting too see how this coming week will unfold.
thanks a lot Luiz. looks like my chart will now be visible. this is how my EURUSD chart looked like last week while i tried to make sense of the market.
[U]Monday & Tuesday[/U]
[U]Wednesday & Thursday[/U]
[U]Thursday & Friday[/U]
& my messy 4H chart for the past 2 weeks
Thanx for the information.
i like you guys how you analyse and is good.
@gigapip: Wow, that chart is confusing as heck. Lots going on. Do you use it all? My personal preference is to give much more real estate to volume.
@ Pr0cast: yep, i use each one of them but usually clean it up 1st if thereās a need to and add the studies one by one again to get my picture
looks like the Asian session had to add to the fall on the EU!
I think this has been unfoldingā¦
Looking to buy around 1.39.
And about those profit stuff. Letās say this strategy has about 80-90 % win rate. But profits canāt be always as much as stop is. Sometimes trades gives 6 pips from half position and then other half gets BEāed. Sometimes it can give up to 100 pips from very last part. So other parts have been closed earlierā¦ One trade can either take 2 % away or it can give up to like 7 % if somewhat luckyā¦
I think almost every week is profit for me, unless my automatic system makes loss and Iām not able to make enough to cover it upā¦ But with volume stuff alone, every week should be at least 1 % profit.
nero, 1% per week seems much more reasonable than 1% per day. thanks for the input.
Tomorrowās obstacle course:
Purple is the 38.2 daily fib, red verticals are big news. Would like to see some nice pin bars in the red square.
Going Short on GBP/USD ?
If Iāve said anything in the 3 years since I started this thread, itās that THAT is a frigginā short setup.
Potential stopping vl at such a crucial area. Letās see whether it can hold. Thisās highest vl of the week so far.
Hahaā¦ I just came here to post the same thing, luiz.
beautiful short set-up as plenty of weakness in background today n i missed it due to sleeping, oh my dear lord.