Tuesday, 31 July 2012
Monday, 23 July 2012
Different views of the same price 'incident'. Is this a new low pivot of significance? This is typical of recent centre line touches in the last few weeks/months since the June low. This time i was waiting and saw the second touch/divergence and at least have a day position if not a keeper although I may be stopped out a b/e but anything is possible. If we cant get over 1342 then maybe we will retest the lows but do not forget last nights gap wiaitng to be filled...sooner or later. I have long since stopped trading gaps on the ES which can only lead to a whipping but they do bear consideration in regard to the overall picture.
Tuesday, 17 July 2012
Friday, 13 July 2012
Monday, 9 July 2012
I have posted about this supporting ML ( seen here above on the Esignal platform) on various blogs/sites and it to me it seems to enforce my theory about historical ML's but what is more important is that we seem to be unable to break higher and so far we have been unable to break below. Remember this is at a slight angle in the chart below so the supporting ML is slowly rising.
Below:Here it is in black/green/pink in the MT4 platform using custom indicators to insert the reaction lines in red from other historical PF's(ML's). These are different templates so have assorted reaction lines but all work to some degree or other on price. The longer we remain bumping along the 'bottom' $1550-1580 the more concerned i get that we may see a downward penetration. If we go through we could see a sharp drop of the likes one sees every so often in gold ...80-100$. Draw this big fork yourself (carefully)and then drop down to the 60 min chart and see the interaction with price.