If 1316 order gets filled overnight, I will enter an order to buy again at 1305.5 and the add at 1300.5
lucky guess ? You posted about 20 times today and one of those said we would trade down to 1300 from 1315 which never materialized. You had no idea what the reaction would be to the fed minutes so your long trade was very risky where was your stop had your gamble been wrong ? r10 is add or subtract 10 points to the previous reaction low or high to get the next reversal area.
Your idea to go short today was excellent and a shame you missed it. You'll probably get your 1316 to close as its at that now (and may go to 1319 area tonight) I have tomorrow scheduled as a down day an will be looking to short. (too bad I didn't stay in my short trade today -oh well.)
6 point bump (to new highs on a 7 point session until then, I would not call that a non-event), but that was it. AUD/USD went positive then has turned back to red, that is your currency gauge on Chinese data.
on a 1 day chart by 1 pm midwest,those cleavage ,nips,tops and bottoms, and sometimes ledges are there,you have only 1,2,or 3 scenarios,for the rest of the day,great if it's 1,but that would be too easy,the return to the nip would be no.1,fill the cleavage and the return to the nip is no.2,ledges aren't so common so run up or down to the ledge and hold and reverse,or break,no.4 would be to make a new high or low on the close,rare but it happens,the chart posted is a normal reflection of mp,you respect the high and low with decilinng buyers near the high or sellers near the low and return to the nip,once there, as in this case you respect the nip and reject ,return to cleavage,bounce return to nip(resistance )if respected ,you reverse to support(cleavage)...you are always working above or below the magnet(nip),if respected from underneath you drop to next supp,if respected on a break above,it becomes supp and you plan for the nip,cleavage,ledge above for resistance,they move it til they find volume sellers as in the guys who got long on those numbers above and would love to get flat for a scratch,basically you can pick almost any number and it will eventually hit,you just have to pick that multi day arrow posted as your price range and you will get there,you could work 1 lots multi day closing and reopening after the bell and ride it to a profit or scratch and save all the stop losses which add up to a new guys undoing,i could say learn to read the market range but doing that is what morgan and goldie already figured out and they play you on your 2 pt stops while they are working a 90 pt range ,1260-1350,catching the 2 pt,10 pt and 20 pt players stops and when they cover,the house takes the other side in size and moves it to profitable price and covers over and over and over...its a video game...like the carnival ,its rigged ,the slight of hand is your ego,you don't see the hidden card because you don't understand how they did it it,it must not be there,i'm too smart to be fooled,it's magic,i'll never figure it out,so you are being taken by the carny 24/7 ,not just once during the summer when you were a kid...look at the big picture,the way it's being played,then narrow down for precision entries and exits,i've been early or just plain wrong on many a position but averaging into that carnival price range for a return to the mean works about 75% of the time..little wordy but the message hopefully got across
And...we have you...to average the prices in between...with your 90% accurate but still losing method... I'll add further...if necessary... Moderator: Notice that I'm always the responder...when attacked...and rarely will initiate an attack anymore...a notorious improvement in behaviour.