I'm impressed DJ. I had no idea who they were.
Are these hints to the secret pattern method DC uses?
I'm impressed DJ. I had no idea who they were.
Are these hints to the secret pattern method DC uses?
There is a 161% extension smack in between those too.
Dick Lexic
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So now we know what that massive volume was doing 31/8. They filled their boots prior to bernake's speech 26/8 then they ramped the markets up and sold of on 31/8 before NFP. Fits with the daily bars.
simples
ok its easy to say after the event but we got a similar situ today. last time 4 days up into bens speech then 400ish point drop. this time 16/9 - 21/9 4 days again and markets been falling ...wheres my crystal ball?
bored spectator today i think
DaddyJohn
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ok its easy to say after the event but we got a similar situ today. last time 4 days up into bens speech then 400ish point drop. this time 16/9 - 21/9 4 days again and markets been falling ...wheres my crystal ball?
bored spectator today i think
But I think it is worth remembering that Market isn't expecting QE3 today. (in my view)
Dick Lexic
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i'm not covinced they are bothered, they'll just use it to ramp the market in their favour.
DaddyJohn
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A lot of short squeezing this morning.. The move up this morning was mainly algo's just lifting the offers so the price moved up.. No volume at all.... Criminal really.. But there we go... What we have to live with... Sooner the authorities clamp down on these guys and make them honour the volume they placing in the Market , (as Market makers have to). The fairer the Market will be and it will operate like a proper Market.
Dick Lexic
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we are so used to the dodgy dealings and manipulation that if we got a proper market our analysis would go out the window
I don't see any manipulation, other than the big boys controlling the price, which you could say is a form of manipulation.
The way I read this morning is we had a long up day yesterday with a 161.8% extension, so you have to have a leg down as a bit of a correction.
This mornings move down was an exact 38% retracement of yesterdays move. Then at 8:40am we printed a high above the open of the day, which made me believe the market wanted to go higher. I think it would have done that were it not for the Greek finance minister sowing some seeds of doubt.
The low of the morning at 5290 was strongly defended at 9:30am, which makes me believe we will end up making a new high, and I have around 5375 as a target and a small 127% extension of this mornings down move. That may complete all of the up moves for now and then we get a series of bigger down moves. Although I still think that unlikely with QE3 in operation.
Eventually I think we will see the ES test 1250 before bouncing off to retest the lows.
DaddyJohn
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In my view if players are placing orders of 20-50 lots right up and down the offers and bids and then removing them immediately in order to spike moves, then that is manipulation. Do you know any other legitimate business that is allowed to do this? imagine if you had to buy a pint in your pub in this way.
Dick Lexic
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we are so used to the dodgy dealings and manipulation that if we got a proper market our analysis would go out the window
i wasn't meaning todays market here i was meaning that years of manipulation in our market if it exists must be itegrated into our tech analysis so without it the market would change and we would have to change our analysis.
DaddyJohn
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appologies for not replying to PMs Ive received seems all our offspring require help all at the same time
Anyway heres the skinny as they say
back in a few days
Ok chaps , DC's cryptic clue... we have a) prime minister b) fighter ace c) actress
I think the answer is a sentence made up of these words... so far .. I can find the words PRICE, FTSE, CASH, MATTERS.....but it is not complete... will let you guys have a go now
DaddyJohn
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I think it is stating that price action in the cash market means much more to us and maybe referencing a time of day... any ideas fellow traders
DJ - The bots are programmed to do all kinds of things to make it look like there are orders when there really aren't any. I rarely pay attention to the order book, except when there is a large order left at a specific price level. What matters is the price chart and support and resistance levels. I've spent enough time bemoaning manipulation through the years. It never does me any good, because nothing will ever be done about it. We are traders and have to deal with whatever price action we are dealt with. If the price action becomes unstable or breaks too many rules, then we are best served waiting till it gets better.
Or it could be something the imaged characters said. He prefaced it with
"Anyway heres the skinny as they say".
DaddyJohn
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good thought
I'm watching 1205 =61.8% retracement and 1189.75 the intraday low on the ES. ABove 1205 or below 1189.75 should signal larger moves. But we have FOMC at 7:15pm, so it may just drift until then. I would be surprised if we go below 1189.75, but if it happens, it happens.
dc2000
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the FTSE not quite giving the desired today tomoorrow it could print a price of 5225 to fulfill pattern and then have 2 good buy moves before monday and more down
for the DOW that needs to get a shift on preference for that is to hit 11142 later today
for the DOW that needs to get a shift on preference for that is to hit 11142 later today
Well we are drifting off to 7:15pm This afternoons sell off was a little frustrating, and even though I went short several times, I never seemed to catch enpugh of the move down. It should be interesting to see what happens after 7:15pm. It's been a down day so you would assume that would continue later on after an initial spike up. 1189.75 failed to hold, which for me was the key.
