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EURUSD 6E Euro
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EURUSD 6E Euro

  #131 (permalink)
Sharpening mental edge
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Big Mike View Post
To be honest, I'm not sure how. I'm still new with Sierra.

Mike

NP i only just got it on demo lol

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  #132 (permalink)
Sharpening mental edge
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Big Mike View Post
Neither. Panel 3, the volume spike (not cumulative delta) - one of the last bars on the chart where price came down to the channel, then the volume spike. I see these often and they usually are a confirmation of 'reversal' if you want to call it that within the channel.

Mike

ahhh TY Mike now i see what you mean, yes thats what i was looking at on the h1 at the low of day. do you look at this on your bigger t/f ( can be very usefull imvho) can give you a bias to execute from on your lower t/f, also your bigger tf chart had nice CD at the vol spike at the lows ( hence my interest in it)

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  #133 (permalink)
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Big Mike View Post
While that last move up was a lot of fun, I am not sure it will last. I still favor downside for now I think.

BTW, one of my motto's "trade what you see". And right now what I see is an uptrend. But no more trading today. Of course as I type this, price is hugging the very bottom of that uptrend channel, but still, delta is also in an uptrend since early morning US open.

If I were to try and guess tomorrow and Sunday/Monday moves, I would say a retracement higher, perhaps to 1.3650 area, followed by additional selling to new lows of 1.33 and below.

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Mike

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  #134 (permalink)
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Big Mike View Post
Of course as I type this, price is hugging the very bottom of that uptrend channel

A good visual example of why there are no magical indicators. This channel would still be respected if it were simply widened to a higher setting of deviations, as illustrated by my manually drawn purple line.

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You can see a good amount of weakness here too, but it gets harder to really feel sure about this interpretation because the session is near end of day, volume is declining, and with it the delta 'relative volume' declines too. But it is showing some divergence off those highs. Relatively inconsequential volume however, a delta of only 500 contracts.

On top of that, the real reason I still feel bearish on a bigger picture (regardless of any short-term pullback or retracement we might see) is the bigger delta of 5000-6000 contracts as shown in the below shot, and that is just today:

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Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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  #135 (permalink)
Membership Permanently Revoked
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Yo Mike,you stop trading CL after all these years?

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  #136 (permalink)
Market Wizard
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Big Mike View Post
To be honest, I'm not sure how. I'm still new with Sierra.

Mike

to share a chart not a whole chart book( ninja workspace equivalent ), click on a chart, F6, type chart template name in study collection box, save all, this will share the lay out of all studies on that chart, save single will share the highlight study only. To share a whole chart book , file , save as, type in chartbook name. Singlechart template has extention .StdyCollct whole book template has extension .cht, both will be in \SierraChart\data folder.
Note: recipient needs to have same studies already loaded in order to see the same layout.

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  #137 (permalink)
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Big Mike View Post
Haven't gone to bed yet.


With regards to following me, I am honored - but a little concerned too. Don't copy me. The best thing I can hope for is to demonstrate that simple charts yield best results, not charts overloaded with conflicting indicators that cause you to be comatose.


Mike


Sorry, buddy.... I should have said "follow along with what you're doing"

I definitely have my own bag going on, for better or worse....


AJ
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"Life On The Edge of SR"

Last edited by tderrick; September 22nd, 2011 at 08:03 PM. Reason: spelling
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  #138 (permalink)
Big game hunter
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If it breaks 3450 again Ill get short . Ill try for 2 x risk .

Attached Thumbnails
EURUSD 6E Euro-snapshot-388.png   EURUSD 6E Euro-snapshot-389.png  
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  #139 (permalink)
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I think I would look to short in the 3550 area....I will post chart later

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  #140 (permalink)
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I have a sell order at 3600.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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