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Reckon your shorts still alive Mike . The megaphone here got me short last night at 3432 looking to get to 3310 . I notice the price is stalling at the february low and top line on my megaphone making the short convincing but its still countertrend , technically .
Can you help answer these questions from other members on NexusFi?
This top is very 2B looking . If we close < 3430 the 2B top is complete . Thanks for the delta pics too , very interesting stuff . Im still fiddling around with raw volume in esignal and the 1 min. tf , or lower , shows me some stopping and launching power occuring . Just not into adapting or changing anything at the moment and focussing on what im using .
Edit - The 0500 ( NY time ) bar confirms the 2B top . Doesnt matter much since NFP is liable to throw everything around anyway .
Trendline resistance, Brearish Gartley and volume divergence....... NFP positive 103k....but Oh....Half the jobs belong to employees who rejoined the company....so EnterShort()....
Entry between 1.3480 to 1.3520 zone......hope this level will be tested again.
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
Looking at a big picture, if there is some sort of agreement in the EU which will most likely be temporary, I could see a decent retracement taking place that could take price up to the high 1.30's to low 1.40's area. That would be half way back from the high from May and a relatively low volume area. Just seems like a good target if we're able to get above vwap. Counter to that thought, we could get denied at vwap or just simply continue to fall which should take us to around the 1.20's area. I guess it's going to come down to the debt crisis. With Italy and Spain being downgraded today, it sure doesn't help the situation so, maybe we get a run away further south from here.
