Prepwork for today: We are back at the top of the TC and under the congestion of the week, Whatever data was released couldn't take prices higher, so perhaps they will try lower first. If they dont, then the long will have to be taken.
A video that was sent to me and I wanted to share it with fellow SLAyers , interesting stuff. http://www.youtube.com/watch?v=V74AxCqOTvg
Niko, Interesting video. Thank you for sharing the link. I viewed your hourly NQ chart and then uploaded an euro chart. The way price moves on this time interval is not unlike your NQ chart.
I do love TED! So lets see... I wasn't the first... but I think I still qualify as being part of the "in-crowd"! This also means, Db, our leader, "is over-glorified". The real person to get the credit is the number two guy.. who was that??? LOL Although we can also argue that Db is just a follower as well, the first one, " so he is the lone nut who transformed the first guy, 'Wyckoff', into a leader"!
I tried to draw a meaningful channel on 6E. From my perspective it looks like the mean was the smaller dashed line in the middle and after the new low on the 20th the mean basically moved down one rung on the ladder. The low of the channel has become the mean and the lowest dashed line is now the low. I've never seen DBP do it this way so take this with a grain of salt. I does look like the same techniques can be applied but it would take some additional testing obviously.
Interesting TC, what I don't like about the EUR is the constant choppiness followed by the spontaneous BOs. Perhaps a good REV and BO system might do the trick. But I wouldnt take a RET in this market that often.
So it looks like we are currently trending down. The 50% level of this whole movement from june is 3270 but that is a little bit too far so focusing on what is in front of us the hourly provide us with some areas where a lot of trades were made on the way up that might have some interested fellas along the way. BTW, i didnt manage to finish homework during the WE, so I will have to work overtime today
Today´s trades, Not very Zen . But as I am not done with homework I think gathering more stats wouldnt hurt so, kept on taking as many trades as I could. Leaving fear aside I am finding the DTDB much easier to spot .