the UCAD short u are talking about had closed above the 61.8 fib level on the daily, would u still consider taking it??
Go according to plan
On the whole, I just havenāt seen anything with decent probability so far today, anyone else?
EDIT: Oh I see now, looking at wrong browser!! trying to do too much at once!
Didnāt bother meā¦itās clearly distribution. Iām sure everyone saw that ND entry. I took it, had no draw down, locked BE at support and BE was hit on that little spikeā¦uggh lol. Talk about trade management, doh!
Oops! Shouldāve stayed in doh!
You called it buddyā¦Jedi.
NS on 5min EURUSD after high volume on down to 61.8, go long?
were is ur stoploss?lolā¦today is goneā¦bye
I saw thatā¦itās at a fib zone on 5 min, with nothing but weakness to the leftā¦where the trade needs to go. Too risky. The better entry was the first NS that showed up near the bottom. A friend of mine who is learning, spotted it on his own and took it on his demo for some pips. Itās a safer entry cause it was far enough from fib area and the background weakness/supply area.
Cool, and so it transpires, good stuff, thanks.
Reasons itās clearly distribution?
Itās because it looks exactly like that on the chart?
Just looking at the ranging bit - itās āsquareā, accumulation phases tend to be more 'looseā
Itās because we have high volumes on the peaks, and low volumes on the troughs?
Quite obviously a markup to the left?
Did it not fit the definition?
Is something unclear?
pls correct me if im wrongā¦
candle marked in red show WEAKNESS and in green show STRENGTH
this upbar (in red) shows highest volume of yesterday with a bearish close ā¦
im not sure which way is SM biased
any comments much appreciated
Um no, I donāt think there is, is there? But Iām making doubly sure that they wonāt be accumulating and distributing my money!
This accumulation is very long. I think we are preparing for a massive up move. Not sure when that will happen but I hope I will catch it and make some $$$.
I think the move might just start late afternoon today (GMT) after the last news spike has settled.
Ha, yes, the reactions!
Iām thinking spinning plates, I remember a crash course I went on a few years ago on project management, the tutor said, itās like spinning plates, in the way that the plates are parts of the project, and you first of all get one spinning, then another, and another, but then you have to go back and re-spin the first plate before you can move on to the fourth, and then re-spin the second and third before you can start the fifth until you eventually get all your plates spinning nice and smooth and under control.
I think trading is just the same, and you might well drop a few plates along the way!
So itās like, I get accumulation/distribution, 'course I do, itās simple, says it all in the picture, accumulation, markup, re-accumlation, markup, redistribution, markdownā¦ , so you take that into account, you study the chart, great, the market follows that pattern, superb, top trader now, I got it, losses go down, profits go up, but then in your next trading period, youāre just kind of not getting it, so you look at the vids/forum again and you realise youāve forgotten to take into account that itās high volumes on down moves for accumulation, and the process repeats, then the process repeats, and then repeats, and repeats again.
Hopefully Iāll be corrected if Iām wrong, but hereās my comment:-
I think your candle analysis is 100% correct, and itās looks like high volumes on downmoves, so Iād say SM is Long.
Demand showed up in this area again and it looks like accumulation down there. Hoping to get a nice long today!