Ghost of If You Can Draw A Straight Line

[niko]

Where we are:

Thanks, and thanks for the other reply as well.

 

[niko]

Seems like buyers are not interested in this above 527 and sellers are trying to test new interest. Lets see if they can make it below 501.

Accodring to SLA there was an entry yesterday, night below 521, but that was a scratch, and now we are in something of a TC.

 

[dbphoenix]

Seems like buyers are not interested in this above 527 and sellers are trying to test new interest. Lets see if they can make it below 501.

Accodring to SLA there was an entry yesterday, night below 521, but that was a scratch, and now we are in something of a TC.

I wouldn't lay that at the feet of SLA. Depends entirely on the bar interval. As long as we're stuck between 3480 and 3540, I have no interest in fooling with this.

AMT makes a very nice filter.

 

[niko]

I wouldn't lay that at the feet of SLA. Depends entirely on the bar interval. As long as we're stuck between 3480 and 3540, I have no interest in fooling with this.

AMT makes a very nice filter.

I meant this short. But as you said, its on the trader if he wants to trader the chop.

The fact that buyers are not able to make HHs and sellers unable to make LLs put us in somewhat of a hinge. And trading inside the hinge is not always that productive

 

[cmb]

4 hours of selling action today, daily chart looks like we have room lower if we don't find any buyers in this area. Right at the lows of the december Fed meeting.

Bloody out there :eek:

 

[niko]

Bloody out there :eek:

Depends on the side you are on

 

[dbphoenix]

I meant this short. But as you said, its on the trader if he wants to trader the chop.

The fact that buyers are not able to make HHs and sellers unable to make LLs put us in somewhat of a hinge. And trading inside the hinge is not always that productive

The short, however, was Friday, and the bar itself defined the hinge, so one would have to look into the future to see that as a short opportunity.

As for shorting the TC you showed me in chat, yes, one can use AMT to trade that, but remember that extremes work both ways, and you have to be prepared to SAR at the other extreme of your channel. If that's only a few points, you're not likely to come away with much, and, if you decline to SAR, you will nonetheless encounter difficulties with those who are trying to go long.

It's not just price movement; it's the traders who are causing price to move as it does.

 

[dbphoenix]

4 hours of selling action today, daily chart looks like we have room lower if we don't find any buyers in this area. Right at the lows of the december Fed meeting.

Bloody out there :eek:

If one is extremely generous, the trendline is at least being tested. Otherwise, it's broken. If we now make a lower high, that's pretty much it.

Ditto with the ES.

 

[bmwhendrix]

Good place for a bounce?

 

[niko]

The short, however, was Friday, and the bar itself defined the hinge, so one would have to look into the future to see that as a short opportunity.

I am not really following here. I dont see a short in the 1 hour chart on Friday, at least not one solely based in the Line break + RET . Given that the line was not broken until the close and the RET formed during Sunday night. There must be something I am not getting. Sorry. Well, besides the fact that in the longer term context, we failed to take Thursday high, therefore the hinge I plotted. But then again that can be wrong, so If you could please help me here I would appreciate it a lot.

As for shorting the TC you showed me in chat, yes, one can use AMT to trade that, but remember that extremes work both ways, and you have to be prepared to SAR at the other extreme of your channel. If that's only a few points, you're not likely to come away with much, and, if you decline to SAR, you will nonetheless encounter difficulties with those who are trying to go long.

Thank you, thank you, thank you. Adding AMT into my things to look for, has improved a lot the ability to spot turning points. Still far away from entries, as shown today, but I could anticipate something "could" happen there. Now, regarding the SAR at the bottom, yes I am aware of that, that could have screwed up a good short from the top, and then all the magic of the entry would have been lost . Guess I have to find a way around that, lets see what can I come up with.

It's not just price movement; it's the traders who are causing price to move as it does.

Still cant, trying to picture buyers and sellers, but I am not there yet. For example, I stopped looking at LHs as LHs and started thinking about them in terms of buyers being unable to find better prices for their stuff, and then yielding, if they dont yield, then your LH turns into a hinge or chop, if they yield then you might have a trend. Any extra advice around this?