Making of a method

[horton]

Quote from game:

a critical tipping point can also occur in the middle if there is a multiple time horizon confluence area

This is progress.

 

[game]

Quote from dbphoenix:

Good stuff. Does this make you feel more comfortable about tomorrow's possibilities?

It tells me that LOLR is up. However, there is a short term overbought condition that may present a good opp for a long Rev trade should price come back to the mp zone.

Will await the ON action to see whether there is any short term S that may provide a base for long operations should buyers remain in control tomorrow.

 

[game]

The LOLR remains up through ON action, although the recent sell down from 35 is testing S, as seen on this chart:

http://www.sierrachart.com/image.php?l=1379594396902.png


Since price is in new territory, the only lateral S levels are from recent action. Since the LOLR up thesis is strong, these may present a good opp for long Rev trades. Of these, the 3208 level is most important since it is the mp of upwave + SL + SH zone from 16th.

http://www.sierrachart.com/image.php?l=1379594575159.png

 

[dbphoenix]

Looks like $ is creating a mini-range bet 28.5 and 31.5. If this continues to the open, consider trading the first retracement in a breakout through either side. If it doesn't go, scratch immediately.

 

[game]

Quote from dbphoenix:

Looks like $ is creating a mini-range bet 28.5 and 31.5. If this continues to the open, consider trading the first retracement in a breakout through either side. If it doesn't go, scratch immediately.

Nice call! I took a long off the DB at 28 but exited on adverse movement. Then, hesitated to get in on the HL's and thus missed the strength back to the highs of 35.

 

[dbphoenix]

Early BO. Ret occurring now.

 

[dbphoenix]

Quote from game:

Nice call! I took a long off the DB at 28 but exited on adverse movement. Then, hesitated to get in on the HL's and thus missed the strength back to the highs of 35.

There's that fear again.

 

[dbphoenix]

Having trouble with that little congestion above 34. Still no trade here.

 

[dbphoenix]

May have found S at that congestion I mentioned. But the mkt is opening.

 

[dbphoenix]

Ret entry.