Well I got out with a loss of a little profit but no big deal. I was trying to predict how far down it would go before this move up, which I illustrated but I was off. I should have realized it was the end of the month and if it stayed where it was at without dropping off substantially, then it would on showed signs of a reversal on a monthly chart (Look at my previously posted chart).
I could see in the chart this crazy move up was being triggered on the way down, by the market putting massive buy orders around the 1600 plus area that created a resistance barrier. These buy orders were being hedge by large institutions and their sell orders were larger than their buy orders (hinting on why it was going down all week, but very slow). So they waited when the world was sleeping to take their profit with a bit of coordinated positive news. This made the markets weight transfer back to the areas of their resistance after they took their profit on the sell orders. All the buy orders were mainly around the 1600 area they will want to turn those into a bit off profit as well. They can do this by switching the majority to a bullish mentality and drive it up (which is happening now). That’s why I said before it would be the 1620 area and below for where it will stall out at. Which I suspect will happen over the weekend with a gap upwards.
The news being put out last night by Europe is nothing to get excited about, but these large institutions that collaborate together, make it something to get excited about. Be patient with this situation and don’t expect anything until it’s over; It’s only being manipulated. There are so many angle to look at it’s always so easy to forget a few things that really need to be factored in a situation. Timing is the hardest thing to predict with this and that’s what I’m working on.
My views are not to support America it’s to understand the sediment of multiple outcomes that all have one ending. America will shine once more with all the fucked up problems here to, but ultimately the problems are mainly focused on Europe, and people are out here to make us think otherwise. Both nations will get what’s coming; it’s just a matter of time and who will blow first…Markets are smarter now and they don’t want everyone to get an easy ride down or up! We all know from the past what to look for, that drives markets, so they switch it up a bit to shake out all the people that want that easy ride.
All of this is why it’s best to play long term trades at the top of a market and the bottom. If you would have had a sell stance at 1640, you would still be ok, because you’re in a safe place to play the waiting game. The same goes if you were to have a buy from the low 1530’s allowing yourself the safety to wait until the next target of 1640 and take your profit and sell at the top. That’s the way to play this game.
I have a few account that allow me to play long term, medium term and short term; this allows me to learn how every time frame works. I will tell you though, the hardest time frames to play are the small to mid-timeframes, this is all because there are a million possibilities and it way too hard for a human to calculate, and that’s why there are computer system that does this for banks and individuals.
Hope this help somewhat and I wish everyone a great weekend...
I could see in the chart this crazy move up was being triggered on the way down, by the market putting massive buy orders around the 1600 plus area that created a resistance barrier. These buy orders were being hedge by large institutions and their sell orders were larger than their buy orders (hinting on why it was going down all week, but very slow). So they waited when the world was sleeping to take their profit with a bit of coordinated positive news. This made the markets weight transfer back to the areas of their resistance after they took their profit on the sell orders. All the buy orders were mainly around the 1600 area they will want to turn those into a bit off profit as well. They can do this by switching the majority to a bullish mentality and drive it up (which is happening now). That’s why I said before it would be the 1620 area and below for where it will stall out at. Which I suspect will happen over the weekend with a gap upwards.
The news being put out last night by Europe is nothing to get excited about, but these large institutions that collaborate together, make it something to get excited about. Be patient with this situation and don’t expect anything until it’s over; It’s only being manipulated. There are so many angle to look at it’s always so easy to forget a few things that really need to be factored in a situation. Timing is the hardest thing to predict with this and that’s what I’m working on.
My views are not to support America it’s to understand the sediment of multiple outcomes that all have one ending. America will shine once more with all the fucked up problems here to, but ultimately the problems are mainly focused on Europe, and people are out here to make us think otherwise. Both nations will get what’s coming; it’s just a matter of time and who will blow first…Markets are smarter now and they don’t want everyone to get an easy ride down or up! We all know from the past what to look for, that drives markets, so they switch it up a bit to shake out all the people that want that easy ride.
All of this is why it’s best to play long term trades at the top of a market and the bottom. If you would have had a sell stance at 1640, you would still be ok, because you’re in a safe place to play the waiting game. The same goes if you were to have a buy from the low 1530’s allowing yourself the safety to wait until the next target of 1640 and take your profit and sell at the top. That’s the way to play this game.
I have a few account that allow me to play long term, medium term and short term; this allows me to learn how every time frame works. I will tell you though, the hardest time frames to play are the small to mid-timeframes, this is all because there are a million possibilities and it way too hard for a human to calculate, and that’s why there are computer system that does this for banks and individuals.
Hope this help somewhat and I wish everyone a great weekend...