OK although I don't animate discussion group at the moment as long as I haven't finished all the examples to illustrate the cases. So I warn you that you risk to feel rather frustated for a few weeks before I make some animations.
It is not the levels that are adjusted in fact because the levels are like a city plan: they don't change once they have been built (I mean calculated 24h in advance for next day's session). What changes is where the general drops the troop within the city : where market will open and where it will direct
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<IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=255714>
For example looking at the charts today on hourly scale globally it says that it is rather bearish. Now if you read the guide it is said that the first projection is important for the impulse of the trend and you can see that it is bullish. So it will depend on where the market opens and if it retraces and crosses the bearish cross-pattern (where projection line goes below the blue line and so in negative territory) at 8641.87 we could have headed lower but the market just stopped two points above as he usually do - he is as extremist as he can be.
Now if you interpret the chart today within the context of yesterday, once you become accustomed to interpret consolidation which is the most difficult things to master, you will be more aware that this negative bearish picture is to fool the short term players because as a metaphor if not for real they are used as panic buyers so that the market can resume the primary trend by retracing price and time that is to say it will go back to yesterday's chart. And if you look at yesterday's chart you had a resistance at 8727 on one chart and 8721 on another: we made 8727 yesterday and retest it this morning before we do the second one near 8721. Very often market make a double cycle because he follows a chart then the other but in clock or counterclock path. If you didn't understand I won't be surprised because this behavior is among the most complex: it happens when market makes a consolidation after a blow.
I prefer also not to promise to make any post because I won't always have time to do it on time. When everything will be ready on the site I will make posts on planified days.
It is not the levels that are adjusted in fact because the levels are like a city plan: they don't change once they have been built (I mean calculated 24h in advance for next day's session). What changes is where the general drops the troop within the city : where market will open and where it will direct
.<IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=255714>
For example looking at the charts today on hourly scale globally it says that it is rather bearish. Now if you read the guide it is said that the first projection is important for the impulse of the trend and you can see that it is bullish. So it will depend on where the market opens and if it retraces and crosses the bearish cross-pattern (where projection line goes below the blue line and so in negative territory) at 8641.87 we could have headed lower but the market just stopped two points above as he usually do - he is as extremist as he can be
.Now if you interpret the chart today within the context of yesterday, once you become accustomed to interpret consolidation which is the most difficult things to master, you will be more aware that this negative bearish picture is to fool the short term players because as a metaphor if not for real they are used as panic buyers so that the market can resume the primary trend by retracing price and time that is to say it will go back to yesterday's chart. And if you look at yesterday's chart you had a resistance at 8727 on one chart and 8721 on another: we made 8727 yesterday and retest it this morning before we do the second one near 8721. Very often market make a double cycle because he follows a chart then the other but in clock or counterclock path. If you didn't understand I won't be surprised because this behavior is among the most complex: it happens when market makes a consolidation after a blow.
I prefer also not to promise to make any post because I won't always have time to do it on time. When everything will be ready on the site I will make posts on planified days.
. I will put that day on illustration including globex.