The Foresight Thread

dbphoenix said:
Did you see how price behaved as it dropped through 80? This tells you that traders consider that level to be important. Or at least the traders who move money.
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I'm not sure what your getting at except that the range highlighted in red held no support.
NQ 100 Futures(15 Minutes)20150504132357.png
 
dbphoenix said:
The 1310 bar that dropped 10pts in one minute, through 80.

And where did we reverse? 72.
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Yes, I see that! So this morning's run up was sold into by "big money", thus creating a lot of trapped buyers. The 13:10 bar drop was caused by the trapped buyers puking longs. Is that what you are getting at?
 
trader482 said:
Yes, I see that! So this morning's run up was sold into by "big money", thus creating a lot of trapped buyers. The 13:10 bar drop was caused by the trapped buyers puking longs. Is that what you are getting at?
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No need to think that much. 80+/- was the postulated halfway level of the advance. When price plunged through it so hard and so fast, that confirmed the thesis.

Ditto 72.

This is what Auction Market Theory is all about, and how one profits from an understanding of it. That the "experienced" traders "lol" about it speaks volumes about their "experience".

AMT represents a well of profit. To ignore it is not wise.
 
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