Simplicity in TA
- Thread starter Xspurt
- Start date
I think Xspurt could be able to better explain the "full of bots" environment as it's his thread and he has more experience in explaining those nuances in his own way.
I post charts with my own explanations in my journal, because despite my trading is much of a derivative of what Xspurt taught me, I trade and see things in my personal way, which is a bit different (as it should be with any discretionary trader I believe, everyone eventually develops her/his own style).
As I wrote, coming into this resistance level the daily cycle was already weakening so I was looking for an Engulfer type signal to set up.
We will see how we close but the intraday traders had opportunity to fill their boots.
It's not just the close I am interested in - it is how we get there. If there is a drop late in the day and on a Friday is bad news for the market and compounds the signal forming now. We'll see soon.
We will see how we close but the intraday traders had opportunity to fill their boots.
It's not just the close I am interested in - it is how we get there. If there is a drop late in the day and on a Friday is bad news for the market and compounds the signal forming now. We'll see soon.
"Dead bots when we got finsihed,,,,,"
"We sure took a lot of money from those bots owners:
.....................................................................................
How about post some chart of this ....? I would like to see this kind of trading and I'm sure other trader would like to see it. Let see some pic of this.
"We sure took a lot of money from those bots owners:
.....................................................................................
How about post some chart of this ....? I would like to see this kind of trading and I'm sure other trader would like to see it. Let see some pic of this.
All as before ammo.
I wrote that the daily cycle was cracking when the up move looked strongest and following that PA struggled to make any headway.
Without knowing the daily cycle, just using that tip that ammo learned about the body size coming into resistance warned you to get ready for the reversal, so intraday you had the opportunity to jump on it very early on.
This is not just about how to trade the Dow, it has everything about how to trade stocks using the Dow as a guide.
I wrote I was expecting an Engulfer type signal and on the attached chart you can see the Engulfer and the lead up to it. For perfectionists, the Engulfing bar is a point of two shy of being higher than the prior bar but that doesn't matter as what we are trying to do is learn to get a feel for the market and what to expect in advance so when it forms we can capitalize on it.
I hope to do an update this weekend when I shall examine how we closed and what I am looking for.
Here is how I see the tone for the next week based on how EURUSD closed on Friday:
http://www.cornixforex.com/2012/02/daily-eurusd-settled-on-the-trendline/
http://www.cornixforex.com/2012/02/daily-eurusd-settled-on-the-trendline/