For Q the demand withdrew quickly, making the sellers chase bids, causing the price to fall. The anticipation here is that price might get to 105 within my life time. If that happens some sweets will be taken off the table. If price turns around and demand starts to assert itself we'll have to see what transpires. Is the price going to visit the hinge again before continuing down or stabilize around the hinge or back into the TR? Stability might turn into a reason to exit, and weakness a reason to stay put. Further weakness from here would mean doing nothing and just letting price do its thing. Potential support and the median are both converging around 105. The lower end of the TC is around 100. The dance floor is from 110 to 100. The demand and supply are enjoying their tango, swirling and twirling, oblivious to our hopes and dreams. Gringo
I cant look at a chart these days without volume, to me its like driving my car without a fuel gauge :eek:
Price is getting close to the Pouch of Love (POL). This POL is the union of two lovers called the potential support and the median. So far the behavior of the buyers has been timid. They aren't eager to bid up too much and are quick to withdraw their bids. Eventually though it's going to be a reaction to the upside and the probabilities of it happening are growing with every down day. I am sitting at my hands but alert to any serious change in conviction of the buyers. If demand gets too strong there's no shame and running with the bag of goodies. Gringo
While some are busy trading intra-day, others are busy advancing human understanding of price behavior at a deeper and more intimate level.
Just to let you know I've started training a young-ling at home. Age 12 years. SLA-AMT was the beginning and it seems to have gone over the head of the kid. Without the observation phase the kid is unable to see any flow in price and is quite lost. SLA-AMT seemed easy to me so I had mistakenly assumed he'd figure it out. Not without the observation phase as we all know. There was one ray of light when the kid did say that price has higher chance of going down around the 'upper pink line' and higher chance of going up around the 'lower blue line'. I was like well, that's not at all bad for a start. Gringo
Yes, it's still necessary to read Developing A Plan, which includes the observation stage. And Section 7, though I wouldn't expect a child to plough through it. Though you never know. Depends on how piqued their curiosity becomes. But that's really about it. Maybe I should put together a SLA/AMT for Toddlers.