Already sold......LOL
This is Master The Markets stuff by the late Tom Williams. Nowadays known as Tradeguider.
Bye
How To Read Chart
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This is Master The Markets stuff by the late Tom Williams. Nowadays known as Tradeguider.
Bye
goodness.
and honestly I am not impressed.... this reading the chart bar by bar stuff, Brooks and others already wrote extensively... and anyone who has applied this type of stuff to real trading will know, there is very little edge to be read, just by reading the bars...
the context is very important, the earning/news/story cycles how they unfold, how they affect trader sentiment etc.... the results become much better when these pieces are considered.
The recent moves on #BTCUSD market confirm the cruel nature of the market. Its goal - is to produce losses for the majority. Here is how it does work.
A) Downmove after a period of sideways dull. The bearish activity attracts traders (and their bots) into following the bearish impulse. Traders enter short positions (that is why we can see increase on BTCUSDSHORTS)
B) But if the market is really weak, it not interested in making profits for this portion of just-established shorts. That is why we got the second move B. It knocks out sellers from market by triggering their Stop Losses. This is an SLK move. Green spike on clusters represents the activation of BUY-stop orders. (that is why we can see a decrease on BTCUSDSHORTS). So, when majority is knocking out from shorts - you should sell. This is a way to act in harmony with winning minority.
A+B sequence tells a more bearish story. So, price has more chances to make the next step down.
A) Downmove after a period of sideways dull. The bearish activity attracts traders (and their bots) into following the bearish impulse. Traders enter short positions (that is why we can see increase on BTCUSDSHORTS)
B) But if the market is really weak, it not interested in making profits for this portion of just-established shorts. That is why we got the second move B. It knocks out sellers from market by triggering their Stop Losses. This is an SLK move. Green spike on clusters represents the activation of BUY-stop orders. (that is why we can see a decrease on BTCUSDSHORTS). So, when majority is knocking out from shorts - you should sell. This is a way to act in harmony with winning minority.
A+B sequence tells a more bearish story. So, price has more chances to make the next step down.
This is the same sort of claptrap that flows from "The Online Trading Academy" (which name is so false and contrived, it has to be placed in quotes...) To wit:
"Suppliers were in control of the market [and] bid the price down further......"
Unmitigated garbage claptrap bulllllllllshit, annunciated by ignoramuses who've never-once-in-a-lifetime traded in any type of live market. (You know -- live market?? Where, were "sellers in control', they would take their inventory off the market, and thereby force higher bids -- as in the real estate phrase, "It's a buyer's market" or "It's a seller's market." We all know what that means, and it does NOT mean that that side of the market collectively acts in their own *worst* interest.)
Frigging ninnies.
"Suppliers were in control of the market [and] bid the price down further......"
Unmitigated garbage claptrap bulllllllllshit, annunciated by ignoramuses who've never-once-in-a-lifetime traded in any type of live market. (You know -- live market?? Where, were "sellers in control', they would take their inventory off the market, and thereby force higher bids -- as in the real estate phrase, "It's a buyer's market" or "It's a seller's market." We all know what that means, and it does NOT mean that that side of the market collectively acts in their own *worst* interest.)
Frigging ninnies.
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Hey TM. Do you know anyone that ever did Online Trading Academy? If so what did they say about it?
You mean, *before* they went bust? They loved it!
Then they realize that the market ignores them, violates them, sucks them in and then busts their stops. (Stops, by the way, are what save "OTA" -- they actually DO teach TP and SL well. I hate to say that, cuz it takes away from their abuse of Supply and Demand and the public's *desire* to make sense of the market....)
I was following articles in their site (stocks, futures, options) and they, at least at the time for me, seemed to have very good quality content.
So I decided to attend one of their open houses at NYC location. I was disappointed - same snake oil pitch you hear everywhere : retail traders have no chance against pros, but we can teach you how to figure out what the pros are doing because our educators were (and some still are) them.
They let me seat in a paid class (as an exception they said) and I was even more disappointed as I expected same quality as their articles only more "secret sauce." Also the people that attended didn't seem knowledgeable in trading at all.
I don't see that location in NYC listed on their site, but looks like they still active. I believe it had a franchise model (which is also pretty weird for trading education)
Thank you for the positive feedback. I will try to keep posting.
#Gold Overview. Mixed Data from 3 Sources.
Fake (or False) breakout is one of the most tricky things in trading. This is how the market (professional side) make fools (losses for retail traders). The number of Fake Breakouts increase at the psycho levels (round numbers). Look at 1550 blue line. We had very clear breakout divided into 2 parts:
1) The evening of 04/Sept (Blue arrow). Everything looks bullish, but look at the response
2) Red Arrows point at price falling amid an increase in volume. This is genuine Supply activity after Non-professional bulls were trapped above 1550. (Check the history - you will find Minor Trap Up-moves before Major Break Down in the 90% of cases, even on news events).
On the following days we got Stop-Loss-Killing above 1525 level (circled) and the test of center line of the upward channel.
Well, what is next? Actually, market is quite balanced. We have support from bottom line of up-trend channel with Demand Surge (green line) on the background. But if the bulls are really strong, we should see some sort of quick bounce from the line of support. Instead, price is chilling around 1500.
Intraday clusters (see additional chart) show the attempt of bulls to drive price up (after Trap for bears). But this bullish attempt can be quickly exhausted with mentioned signs of weakness above 1520. So, outlook is neutral.
Fake (or False) breakout is one of the most tricky things in trading. This is how the market (professional side) make fools (losses for retail traders). The number of Fake Breakouts increase at the psycho levels (round numbers). Look at 1550 blue line. We had very clear breakout divided into 2 parts:
1) The evening of 04/Sept (Blue arrow). Everything looks bullish, but look at the response
2) Red Arrows point at price falling amid an increase in volume. This is genuine Supply activity after Non-professional bulls were trapped above 1550. (Check the history - you will find Minor Trap Up-moves before Major Break Down in the 90% of cases, even on news events).
On the following days we got Stop-Loss-Killing above 1525 level (circled) and the test of center line of the upward channel.
Well, what is next? Actually, market is quite balanced. We have support from bottom line of up-trend channel with Demand Surge (green line) on the background. But if the bulls are really strong, we should see some sort of quick bounce from the line of support. Instead, price is chilling around 1500.
Intraday clusters (see additional chart) show the attempt of bulls to drive price up (after Trap for bears). But this bullish attempt can be quickly exhausted with mentioned signs of weakness above 1520. So, outlook is neutral.
