Just for clarity - I meant the line which is the price. - not demand lines, trend lines, horizontal lines. For those who can watch the tick line that fine, for other even a 5min line of the close (or a series of three lines close, high, low) to see the flow and extremes. Its always and interesting issue of what makes something click for different people, and maybe the abstract works for some, of for others its a narrative they can relate to, and you are spot on - you need to get to the essence of something to eliminate that fear (of loss, or being right or wrong, of mummys wrath or whatever) however its done. You have a lot of experience in teaching others and I so I defer to you. Personally I relate more to abstract ideas so I thought it a suggestion. Everyone needs to find their own ways of seeing the world. (its kind of fascinating in its own right and for those interested check out 'threshold concepts' http://www.etl.tla.ed.ac.uk/docs/ETLreport4.pdf --- totally off topic but worth 15mins of reading just for the cooking example)
Thank you for opening this thread thread, I thought I had an understanding of buying/selling, looking forward to this.
This one to me looks like you have an established uptrend. There isn't too much excitement on either side of the market. Bar 37 shows an effort to move higher followed by 6 bars of coiling before it expands to take out the previous swing. Bar 37, 40 and 44 all show strong buying but that doesn't result in any movement. Bar 44-48 shows the market searching on both sides to complete trades. There is the dip below bar 40, up above the high of 37, back to the midpoint of the swing and then makes one more high followed by the rejection at bar 49. Volatility dies back down as the bottoms hold while the tops decrease. From bar 61 -64 we can see some expansion. Buyers seem to be trying to hold the market up but they aren't making any progress higher. The market looks bearish.
The chart to which you're referring takes us up to a few minutes before the open. The following chart includes the first few bars. Does this alter your assessment?
10. Price has declined low enough that buyers are buying aggressively enough to halt the decline and lift price to the highs just prior to 20. 20.-40. I always thought that the price rise from 20-40 was due to buyers being more aggressive than sellers, but if I understand you correctly its the sellers who are in control, because they will be able to sell at a higher price. Also the buyers who bought at 10 or 20 or 30 will be able to sell at 50-60 and make a profit. 50. buyers are unwilling to pay higher prices and are also taking profits. 60. I don't see aggressive short selling yet but the LHs suggest weakness.
I know the date is front and center on all of these but I'm trying to look at them independently. I think the market looks more bearish after the extra bars on the updated chart have completed but obviously there is the 10 points I would have missed with a bearish point of view. After the spike up again there is no follow-through and at least one more move up which is again rejected before some temporary agreement was reached between buyers and sellers. Your question suggests I'm missing the mark? Am I off in left field?
These posts represent the payoff for learning how to observe. I understand why so many would rather skip this and move on to setups and entries and trading, but by doing so one learns to look for setups and entries and trades and never really sees price. Therefore it takes him far longer to make money, if he ever does, than someone who's laid the groundwork.
After the open I could feel that price did not want to go higher and was going to drop. That "feeling" is that a good thing or something that should be avoided? Not that I felt any emotion towards it, just more intuitive. Could that lead to problems because I've been getting that a lot lately.
The observations made in the above posts beat feelings. If you can articulate the reasons for your feelings, you'll be way ahead.