demand did not hold [IMG]
thx boru nice to hear from you.. niko, I'M GONNA FIGURE THIS ONE EVENTUALLY :D
mapping the territory - backing up to 2011 [IMG] [IMG]
something I've put together from various indicators and code samples with my limited programming skills i take no responsibility... :) here .....
game plan: Wait for price to re-test the big TR MP for 5mtbr short Wait for price to re-test the big TR highs Wait for price to reach 50% of...
The hourly, confirms the trading range (sideways view from the bigger time frame) Price took the upper half of the range (implying demand), than...
Bigger time frame still in a downtrend, SL not even close, signs of sideways movement are starting to increase
done for the day, i don't trade inventories day no trades today
game plan: Avoid the MP, Wait for the extremes TR high or low
Price consolidates , the MP response (supply) occurred but demand were found below, this created a consolidation I should avoid. Overall...
game plan: Wait for a retest of the MP for a 5mtbr short (PHOD will also serve me well) If we reach TR highs look for 5mtbr short Wait for TR...
When drilling down it is clear that a Trading range is in play It held above the MP for a couple of days just to take out all buyers in once day...
The bigger picture still shows supply is present Demand had not taken over yet
here's the daily hindsight/recap with execution
saw this too late, but check my hindsight post that will follow, i did consider taking a short prior to MP (the small TR lows was on my mind)...
game plan: Same as before Wait for price to re-test the lows for 5mtbr long Wait for price to re-test the MP for 5mtbr short Other than that...
Not much of movement overall demand but with expected chop after the big drop
for the ones interested in my work process, this is an example for things i do daily i collect and analyze those "plays" or "potential plays"...
This is still too tight for my taste and do not provide good opportunity for me. Wait for a better opportunity at the 5m for lower price Or wait...
The tight range at the bottom of the TR is getting wider
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