Verry kool. I generally chalk up extraordinary as rocket science. You get the see the market MOVE. Force in action. Then you see earliest small stuff that leads to stalls, hitches and finally dips and as you say a traverse ending event. The unsustainable is DU and VDU land. The traditional term for it is "four o'clock" drift referring to the hour hand. This is also where the corrollary to the P, V relation comes in. It is "If volume is steady and unchanging, then the price will drift downward." Here, you can see that the most frequent occurances of steady volume do occur when volume is very low. Noise comes into the picture also. As random as noise sounds, there is still human nature to content with. Active traders are not active in the trading sense at these times; but they are there and thinking and planning and looking for what sailors call telltails. The pieces of yarn you thread your main with to assure minimum turbulant flow anywhere. So what happens? Not much and the risk is the highest that abounds. It is a tick talk time.
Stalker Good illustration of those things I mentioned to you. There are several reasons to be in this trade. Hope you caught it. Getting out at hod test or LTL would have been ok. Edit: If you took target you made 2 pts. Expert would have reversed at ftt or new point three and made 1.5 or 1.75 on that traverse. Worst case scenerio a wash.
Lol... I saw that one Easy and was gonna write that it was the only valid entry I saw this AM, but I didn´t have any good sense of direction and no clear volume pattern, so I didn´t take any trades at all. Papertrading again, but I wanna treat it like if it was real and only take trades I would 100% take live. I guess the trade you´re showing got fuel from news right? Just curious if anybody took the short somewere around point three at 10.20. I thought it was difficult to see that strong move down coming, were there any substantial clues showing more than a lower high compared to 10.05?
Stalker - RE: 10:20 time frame... 1) Awareness thing: Oil report at 10:30 - it can be a big volatility maker (volume producer) 2) The IT is really messy right now. We are LONG from 12/20 with a FBO (12/28 - 1/4). The IT is L to R. So a couple of basic reasons to take the 10:20 trade: - 10:00 Massive volume at the LH side of our IT channel. ...followed by... - FBP break on the 5 min bars AWAY from IT resistance. I am too chicken sh!t to trade through reports so I just watched that one. My first trade today was around 12:30 - SHORT. It looks like the IT will change to continuation mode soon (on the order of hours)... let's see how the PM shapes up.
btw - I don't recommend the trade I took because a) in the midday b) we are in a L-R of a L-R NOTE: (b) is the most likely case - ALWAYS been in an open minded orientation.
be VERY cautious of a big red bar in the next few bars. EDIT: i.e. if it shows it will probably be a FBO
txuk - yup! run to R - slalom - break. textbook. We've lost touch with a working pace here... our dull period has been somewhat shifted today and yesterday. I'm done for today.