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Yes. Since we had some selling in the background, those two large down bars need to be overcome.
Gary
There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
Can you help answer these questions from other members on NexusFi?
There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
In my day class, I had a target of the 13282 area, which was a mark-down bar. The euro trend overall is down, but we are currently in a trading range with support being 12975 to 13500.
Gary
There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
How does one decide whether or not to take a spring or UT? In other words, We want to by springs in an
uptrend, correct? The hourly bond chart you posted is in a downtrend. Is the spring valid because of higher timeframe support in the area of the spring?
Regarding the bond spring, I was able to identify support and the hourly objective was the 137 area. This is a counter trend trade of the recent bond action, but to me, set up a good reward, low risk type of setup. But for the most part, springs should be avoided in downtrends unless for a scalp. This was the purpose of the chart.
Gary
There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
Could be an upthrust- but in an uptrend these fail right.
Could be absorption for a move higher- trap in shorts and then markup price.
Could be distribution.
Closes will help solve this one.
What do we Know:
We have ease of movement to the upside
we are in a small uptrend - retrace
we have not seen the two things that change uptrend- lack of demand or a buying climax
We still have volume to the upside
if this is an upthrust, it will usually be complete within 1-3 bars many times, imo. Gary in post #465, speaks of this referring to a spring in his second chart posted. I assume the concept is reversed for upthrusts.
