I’m not gonna mess with this anymore. I think I’ll be done for the year aswell (unless something irresistible shows up :53:).
Cool, remember guys…there is a heck of a lot of short positions on SMs books now, and they don’t just give up without a fight. If demand is showing up, they will finally go for that extra push down to TP and start buying…I’m waiting for that maneuver.
i expected SM would set a trap for demand up to fibo 50-61.8 retracement before fully unloading the shorts on their books… so i could join them …:eek:
but they didn’t… fibo 38.2 was enough…
FYI I closed out for a nice easy profit. Will reshort on a break and retest of 15450
Please, when showing your trades give ANALYSIS on why you entered and exited. Also, I don’t see entries according to what I’m teaching here, so it doesn’t really help anyone. Thanks.
with current ATR of around 140 - 160 pips. current move is 75 of ATR. therefore giving a potential downside of another 50 or so pips. (as we are in downtrend). (Opposite for uptrend and not a range day) - if we knew when one would be etc.
SM will wait for price to move up before final downmove/TP? I doubt it. They see the demand/double bottom creeping in just like we do…so would they let it go against their trade and TP higher, or push it down aggressively and TP lower? …Obvious answer. The only rule of SM is to make as much as possible…even if that means adding an extra 20 pips to a 300 pip move before they “give up” on it.
You idea is valid, but I see that as SMs plan B.
Is it possible that we’ve hit a short term bottom and are watching accumulation before we get pure stopping volume and a move up?
Or do I have it backwards?
Cool, buy climax at s/r to short during a down trend, but the point of entry is not explained…unless you just jump in due to high volume at s/r. Most here probably don’t know what ATR is. I don’t use it personally.
I’m sharing my particular method here. Also, if that software is influencing your entries, again…it’s not what we’re doing here. Sorry…don’t want to come off harsh…I’m just looking to stick with the idea of the thread. If you would like to join in in that way, start by watching the videos. Thanks.
Why would they accumulate longs before TPing short? You are seeing some profit taking and demand come in but don’t over think. There is a mix of supply and demand with no imbalance…no opportunity to trade yet. I’m looking for the SM maneuver as I said…we will know when we see it.
i see we’re in the range trading… could be accummulation if SM already drained their short book. some support come from buying at the bottom 1.297… with significant volume… SM is buying for the price is considered cheap? i think any surge above 1.3007 with huge volume will show us the begining of uptrend…
Can you explain what you predict to see, what volume/market indications you are keying in on prior to taking your next position on the EU? Just to help me see what you see, how are you seeing the profit taking given the current price action/volume?
yeah… it goes no where…swinging from support to resistance…agree with you master! lucky i’m not trapped in the trade… any break supported with big volume will tell us where we heading to…am i right?
If you mean a possible climactic move up or down, yes…that’s what we want. You see, demand is creeping in, but there is still supply. Look at the high volume on the 5 min, YET price keeps gravitating towards the middle of the range…supply and demand is in balance right now…that’s the last thing we want to see for entering a trade.
If you are new to this, watch the videos. I talk about the high volume to stop a down move…high volume at the lowest prices to truly mark the end of a down trend. But with that, we want to see a LACK of supply. Then we have the imbalance the bring an up move.
With this demand showing up (shown by increased volume and a lack of continuation down, buy orders creating that activity), I’m also not looking to short obviously…so no trade now.
the software I do not follow it purely paints VSA bars. ATR I never used to use but I find that it plays a big role sometimes. What im trading is exactly like yours just without the fibs. My two entrys are the red bar which is an upthrust (VSA) and the second is low vol testing at second support. Its pretty much exactly the same as you trade but without fibs. However if that stops me from posting here. thats ok too. Thanks for showing me your trades.
My NS/ND indicator wasn’t 100%, so I’ve rewritten it, it look bang on now, and I’m finding it pretty useful!
NSNDAlert3.mq4.zip (1.37 KB)
Really…feel free to post as long as you think it adds to, or reinforces what’s being taught here. Much appreciated.