Well, 2 1/2 hours into the trading day and we appear to have no direction, just a rather sedate auction between 4370 and 4349.
At least it is a nice crisp autumn day.
That tells me that the longer term players are not performing today. Wondering what they are waiting for? Especially after their buying enthusiasm displayed yesterday.
At least it is a nice crisp autumn day.
That tells me that the longer term players are not performing today. Wondering what they are waiting for? Especially after their buying enthusiasm displayed yesterday.
hungrybear
Active member
- Messages
- 209
- Likes
- 0
Lockstock,
What a great quote. It's just how I used to be and still do occassionally - like many, I've learnt the hard way.
Market seems to be labouring. I'm still expecting a new high, today, but there doesn't seem to be much upside left. I'm getting buy/sell signals reversing each other so I think I'll stand aside again for a bit.
We could be seeing the high for some weeks, if not months this week IMO.
What a great quote. It's just how I used to be and still do occassionally - like many, I've learnt the hard way.
Market seems to be labouring. I'm still expecting a new high, today, but there doesn't seem to be much upside left. I'm getting buy/sell signals reversing each other so I think I'll stand aside again for a bit.
We could be seeing the high for some weeks, if not months this week IMO.
barjon
Legendary member
- Messages
- 10,752
- Likes
- 1,863
mornin' all
funnily enough my difficulty is usually the reverse - I know what
loss I'm prepared to take and often it's not enough. The result
is that I tend to set my stops too tight.
been trying to cure it - today for example I've been long since
63 (pre 9am) and would have been stopped out, but I've run
with a longer stop - may still prove to be wrong!!
funnily enough my difficulty is usually the reverse - I know what
loss I'm prepared to take and often it's not enough. The result
is that I tend to set my stops too tight.
been trying to cure it - today for example I've been long since
63 (pre 9am) and would have been stopped out, but I've run
with a longer stop - may still prove to be wrong!!
Grrrrrr- 😡 BT- Grrrr 😡
Just got back on line- service button on homehighway went dead just after my last post.
Yes Hungrybear, a great quote. It's not too long ago I was thinking the exact same thoughts as in the said quote & I mean a very short time ago, I made a mistake viewing the D4F charts looking at the wrong time frame for a chart, I let it run & run, then doubled on another index the wrong way ( against the trend) 🙄 let that run, had a chance to get out of both with a £100 loss- missed that by minutes 😡 You don't want to know the rest 😆 😆
Although the initial mistake was a genuine mis read of a chart, I do have an annoying tendency to trade against the trend- anyone would think I was Bl**dy minded 🙄 :cheesy:
Just got back on line- service button on homehighway went dead just after my last post.
Yes Hungrybear, a great quote. It's not too long ago I was thinking the exact same thoughts as in the said quote & I mean a very short time ago, I made a mistake viewing the D4F charts looking at the wrong time frame for a chart, I let it run & run, then doubled on another index the wrong way ( against the trend) 🙄 let that run, had a chance to get out of both with a £100 loss- missed that by minutes 😡 You don't want to know the rest 😆 😆
Although the initial mistake was a genuine mis read of a chart, I do have an annoying tendency to trade against the trend- anyone would think I was Bl**dy minded 🙄 :cheesy:
Interesting afternoon.
1) For all those who watch trends, the FTSE 100 is trying to defend its record of unbroken higher lows in October. The low recorded Tuesday pm was briefly touched around 14.20 pm. Obviously a successful break would be the first sign that the run in October is under threat/over.
(PS: the low recorded on Tuesday pm was 4323.9.)
2) Meanwhile, the SP500 is apparently testing its 1 day SMA from below. Has yet to break through.
Exciting or what.
Now where's that cup of tea?
1) For all those who watch trends, the FTSE 100 is trying to defend its record of unbroken higher lows in October. The low recorded Tuesday pm was briefly touched around 14.20 pm. Obviously a successful break would be the first sign that the run in October is under threat/over.
(PS: the low recorded on Tuesday pm was 4323.9.)
2) Meanwhile, the SP500 is apparently testing its 1 day SMA from below. Has yet to break through.
Exciting or what.
Now where's that cup of tea?
Last edited:
Morning all,
Yesterday was a double distribution day with two value areas. One in the morning (4365-4352) and one in the afternoon(4338-4328) that said longer term traders came into the market and pushed value lower. Because there are single prints between the two distributions (they were not revisited) it suggests that the new value area in the afternoon was accepted.
Yesterday was a double distribution day with two value areas. One in the morning (4365-4352) and one in the afternoon(4338-4328) that said longer term traders came into the market and pushed value lower. Because there are single prints between the two distributions (they were not revisited) it suggests that the new value area in the afternoon was accepted.
Market Profile does not concern itself with actual price. It deals with balance and extremes. Balance equals acceptance (value area) and extremes equal rejection.
Markets exist to facilitate trade by finding a level which maximizes trade. It auctions "from high to low and low to high in order to find an area where trade can best be facilitated" Mind over Markets
People see what they want/expect to see. So if you think there is a connection Lampchops.....
Markets exist to facilitate trade by finding a level which maximizes trade. It auctions "from high to low and low to high in order to find an area where trade can best be facilitated" Mind over Markets
People see what they want/expect to see. So if you think there is a connection Lampchops.....
The initial balance is very small today (8 points) So the market's base is very unstable. Market participants are waiting for new information before making the next directional move. Watch out for the potential for a trend day if longer term traders enter the market. But then it is Friday. Would you want to be aggressive ahead of a weekend?
Wideboy
What does anyboby know?
Well, the market has tested its low of the day (low risk entry point?) and that has held. Now it is on its way to test the peak of the day (4260) to see how robust any selling is . This is all in an attempt to find direction/ conviction.
What does anyboby know?
Well, the market has tested its low of the day (low risk entry point?) and that has held. Now it is on its way to test the peak of the day (4260) to see how robust any selling is . This is all in an attempt to find direction/ conviction.
