hmm very cool stuff northen…never really looked into this info, but from these new pictures i just took , am i understanding them correctly as noted inside the pic? Note that these graphs are more recent than the ones in your picture (so noone gets confused)
And here is an explanation of the graph from oanda…
edit: im wondering if thats correct because if it is, then that could mean another push lower to grab those buy orders right? adding more strength to the current “sell program” we are in
I wouldn’t put any real weight into them because they are a very, very, very, tiny snapshot of one particular broker, normally used by the dumb money or uniformed trader.
I just thought it was interesting to note the clear, high volume of orders present above the stop Michael noted in the video.
Higher high on fiber vs lower high on cable on hourly chart. Both at key resistance levels (R1 for pound, R2 for euro). We could see a down day tomorrow but a large asian range so, possible to have another consolidation for the day.
Hmmm, I don’t understand this - why would a large Asian range suggest a further consolidation day? Sometimes the Asian range is massive just before a massive price swing… Could you please explain
One of the concepts will give you a fighting chance…if you don’t see anything you are familiar with in the next few hours then wait for 10:00GMT, or even better, NYO.
Did anyone else go long on the Cable at 1.5670? ADR not filled, up at LO, OTE around NYO. First trade since joining this group. Just looking for some feedback. Also, Cable bounced off of 3 month low last week, and is below last months trinity.
looking at cable, waiting for price to go up a few pips more and crack down on the old high at 1.5407 and its stop losses a few pips higher… this is where I’d like to enter short…
was stopped out during LO and lost 1%, not crying yet but would still be nice to ride the weekly train for a change;)