Today I could not see the PA on the morning because I was at the University, however when I came at home I saw that the price was around the PDH, and tried to take some trades, here are the results. By the way I lost most of the downward movement because after the discard of the first trade I went to do other things (playing FIFA ).
Posted on TL: http://www.traderslaboratory.com/fo...-sla-amt-intraday-week-2-a-10.html#post196883 0930 The buyers test the UL of the ONR, 0931 Later on the Lower Limit is tested 0932 The buyers try to take control and BO to the upside --- the RET is needed in order to confirmed their willinggness 0935 Ret triggered and confirmed 0936 There were no follow through and the price goes to test the BO 0939 The BO is tested and the buyers take the price above the previous High -waiting for what happen next 0941 although a HH is done the price falls TDTDB 0943 The price falls into the range 0944 Testing the Lower limit of the ONR - BO - RET is needed 0946 Middle of the PD 0948 The sellers find demand and the price retrace 0950 Testing of the BO 0953 RET Triggered after testing of the BO of the ONR 0955 Ret discarded 0956 The price returns to the Range after a HL and a HH are done 0957 Looking at the 50% of the previous down movement from 62 - 46 0958 The price continues with the uptrend 1000 Trying to reach the day High also at the UL of the ONR 1004 May be a reversal could be traded here?? 1005 the price seems to fit into the range again 1008 MP of the ONR the price rebounds 1012 Hinge 1013 the price continues the down movement 1015 the price starts a retrace testing the previous BO of the Hinge at the ONL 1017 All this action is made inside the ONTR 1021 The price is making an uptrend inside the range, but until the moment there is no enough strength 1025 At this point I would consider a big Hinge, until the moment of the day 1038 Hinge + Range = Observe and wait 1048 Closer to the UL of the Hinge and Range, Hinge redrawn taking as reference the gringo chart (attached) 1104 the price seems to BO from the Hinge, but is also around the MP of the ON range 1130: the price BO to the downside - Waiting for the Ret 1132: Ret triggered - waiting for the confirmation 1133: Ret discarded - HL is done 1135: The price is testing the MP of the ONR 1141: Is important to note that all the action is given within the range 1148: That is all for today, I need to do other things, here is the last chart until now
Very nice work being done. Unless one knows what you're trying to do, this might just look like Morse code to some.
Interesting point of view, just see the continuity of the price without worrying about the bar interval; but always keeping in mind the importance of HH´s and LH´s at R/S Reposted from 40D. thanks for your work http://www.elitetrader.com/et/index...ce-action-via-sla.282101/page-32#post-4092760