Well here's a market looking for the arse end of the donkey .
there are 25 half hr bars ( or letters ) that have traded at 10087 and 21 at 10140.
I think it's resnoable to say that during this data set the market has defined 10087 as fair value and we have closed winthin a few ticks of it .
Computer charts have a default , and they put a gap between the bars or candled bars on all the charts.thats what you get , like it or not, the software vendors are telling you this is how you read the market because thats the way we put it foward.
Now go... allong and put on it a whole lot of studies that we have designed to help you work out whats going on ..GREAT !! to easy !!! ... is it any wonder 95% of people that try fail.
I great trader once said to me " don't be dictated to "
I take those words with a sense of caution, but I have used my format to cloapse time .and split ranges to suit the way i read the market and to find out just what it is thats going on as the various orders are processed through the market .
Nobody can predict the future but from looking at the activity we can get a fair idear of what every one is doing at the time ..they have blindfolds on when there playing pin the tail on the donkey ..they just try to feel there way around.
long or short here ?? would'nt touch it with a ten foot pole .. other gurus can have a go at being 50% right. it wont trade below 10065 in this data set ..and it re connects higher at 10120.the last profile suggests that most of the short term participants has been wise to exit over the weekend ...good on em !Leaving the previous sell off in tact ..we will have to wait untill the market reopens to see if it's going to continue.
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