Yes, I find that these kinds of sessions - ones where it bounces up and down like a rubber ball - can be better than days when it just trends strongly one way. This kind of night allows for multiple re-entries, but when it is one direction I am always wondering when it will end, or trying to pick tops/bottoms.
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Yes, I find that these kinds of sessions - ones where it bounces up and down like a rubber ball - can be better than days when it just trends strongly one way. This kind of night allows for multiple re-entries, but when it is one direction I am always wondering when it will end, or trying to pick tops/bottoms.
Willl, here's an ex of using 50%'s that you might find useful because of the gaps in the HSI.
Pinks are 50% of Gaps and Wide Range Candles. Golds are 50% of moves as per my last "Thought For The Day". Might help you get some more S&R's to trade off as you can use them for future action points. Use in combination with the other techniques you are learning and you will see more trades.
Pinks are 50% of Gaps and Wide Range Candles. Golds are 50% of moves as per my last "Thought For The Day". Might help you get some more S&R's to trade off as you can use them for future action points. Use in combination with the other techniques you are learning and you will see more trades.
thanks a lot YH.
Put on the Fid this morning and saw the move and the resistance after that; but the Pink one for wide range candle and especially gap, that one is awesome..
Yesterday afternoon, i thought the index found support from no where, the PA on smaller FT comfirms the driection, but I couldn't see any support on the higher TF. And I simply got lost.
Thanks for this YH
Put on the Fid this morning and saw the move and the resistance after that; but the Pink one for wide range candle and especially gap, that one is awesome..
Yesterday afternoon, i thought the index found support from no where, the PA on smaller FT comfirms the driection, but I couldn't see any support on the higher TF. And I simply got lost.
Thanks for this YH
Glad to help out. When you see PA consolidate at the 50% of a Wide Range Candle it's usually pulled into the gas station. So if you missed the reversal it's a good place to hitch a ride. Your indicators were sliding up nicely and the odds favour the longs - bit of a no-brainer, you'll see lots of that.
Afternoon all.
Speaking of consolidating around the 50% retrace of a large range candle, that's what EURUSD still seems to be doing with respect to last Thursday's drop.
One possible scenario for today is a move to take out stops around or just above 1.5760. Or the meandering could continue today with a down move not being significant until it passes support at 1.5660.
Speaking of consolidating around the 50% retrace of a large range candle, that's what EURUSD still seems to be doing with respect to last Thursday's drop.
One possible scenario for today is a move to take out stops around or just above 1.5760. Or the meandering could continue today with a down move not being significant until it passes support at 1.5660.
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