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Ok...what you said makes a lot of sense. I wondering if instead of the Longs selling at 6.40 area it is actually a lot of short sellers or maybe both. Considering that NatGas has been on a very long downtrend seems like this is a favorite play, short UNG.
Thanks for the detailed markup, sure explained a lot for me.
Can you help answer these questions from other members on NexusFi?
From a price action perspective CSCO was in a down trend on the daily. Lower highs and Lower lows. The move up may be considered an uptrend on a lower time frame, but on the daily technically it was not, IMHO.
From my understanding the concept of holding gains is related to absorption or re-accumulation. I don't see that on the chart. I initially posted the chart because of a poor financial announcement by CSCO. In my opinion the news is always used to justify the move. Today it gaped down on high volume. I'm don't know where its headed, but it is at support around the 19 area.
yea well . didnt analyzed the chart that detailed thou.. just looked at the last three bars.. my bad , and bamm the market slaps you in the face ...
to me holding gains .. also apppears on upmoves . where volume incraeses on the tops with closing ofthe bars in the middle but above previous bars .. wich measn even thou supply hits the market it gets absorbed.. and holds it gains.. so supply must be of poor quality ..
Thanks for the heads up, but how do you deal with something like this when it looks like the EUR might be breaking down? If I look at the daily it looks like a lower high in place. This is confusing to me because it doesn't look as strong as it did. What is your opinion if you look at say a 60 min or 120 min or even a daily?
You are welcome. I know what you are thinking. I am just a little cautious because this is what many are expecting now. Which again can be exploited. So I am open to unexpected moves which do not fit the overall sentiment.
If you take a look at the picture you see how I have done my price analysis. Note that I do use a simple form of Elliott Wave analysis as backup and to check if I have three wave corrections or strong 1-2-3-4-5 impulse waves. From what I see in the picture I think it is possible that we will have another run up again, which the Wyckoff accumulation discussed could support I think. But, off course I could be wrong. I am waiting to see if it will break the 1.3615 level and retest as a LPS.
Laurus
“If you wish to see the truth, then hold no opinions for or against anything.” - Hsin Hsin Ming
Thank you David! Appreciate it a lot . I see the optimal would be to have both the CME and eSignal GTIS to get the best perspective.
If you are thinking about less selling because of end of day and beginning of Asian session I agree, but I am also thinking that there was increased activity on the downbar which can be helpful. I am not sure, but I hope this made sense or came out right
“If you wish to see the truth, then hold no opinions for or against anything.” - Hsin Hsin Ming
. I see the optimal would be to have both the