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Looks like i was a little early to that party and had to suffer slightly on that last push
Targets filled at last
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
Can you help answer these questions from other members on NexusFi?
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
Covered my runner as price came back within value and took a long and the last push lower. This is what I was watching for on this move.
Made a low, came back into value with a new TPO bracket, made a push to the lows and saw buying absorption down there trapping weak sellers trying sell the low with sell stops. This is also known as the mouse trap.
We also ran from the weekly VAH to the VAL on the bigger picture. Good to be observant on that.
The thought with a long at this point is to capture some of the volume filling in into the selling tail.
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
OK, target filled on the DVAH. I'm out and done for the day. Its Aloha Friday, No Work Till Monday and I'm not going to push this any further. Enjoy your day.
See how yesterday was a Normal day, with range confined to the A period. 9 out of 10 times the next day will test that A low or LOD. A very bearish signal in any case, full credit to Ben Little for pointing this out
Ben, thank you very much for the footprint explanation. That makes sense. Now I have to watch replay the data over the weekend to see if I can actually see it during a live market. I have one question, how do you identify "ABSORPTION"? Is the fact that you see almost the same bids and offers?
