TheShakeOut

Euro still dominated by supply

CME:E61!   EURO FUTURES
The chart tells a story and the story unfolds bar by bar.

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numbers 7 and 10 are wrong. There is demand on both of them
-1 Reply
IvanLabrie TOP vlad.adrian
2 years ago
VSA analysis says his number 10 is a no demand bar...that's what's he's using I believe.
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IvanLabrie TOP IvanLabrie
2 years ago
Using this, which is based on the close position in currencies which are 24/7 markets isn't that effective I believe. Maybe with weekly bars...
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vlad.adrian PRO IvanLabrie
2 years ago
number 10 is an indecision bar with low volume and a tight range. number 10 is not a 'no demand bar'
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IvanLabrie TOP vlad.adrian
2 years ago
It's a super low volume and range up bar...vol might not be 100% accurately lower than past 2 bars, but the result is the same. No demand to me.
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IvanLabrie TOP IvanLabrie
2 years ago
snapshot
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IvanLabrie TOP IvanLabrie
2 years ago
Bar 13 is a failed sign of strength too...confirming weakness.
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TheShakeOut IvanLabrie
2 years ago
I'm using VSA and Wyckoff analysis.
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TheShakeOut IvanLabrie
2 years ago
There is a lot of weakness in this chart but I'm waiting for a confirmed No Demand bar at or below the level of the last possible climax. That will be a high probability trade.
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TheShakeOut IvanLabrie
2 years ago
Bar 13 has volume lower than the previous two bars, it shows signs of no supply. I would like to see a sign of weakness on increasing volume to confirm that there is no more floating demand in the market.
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IvanLabrie TOP TheShakeOut
2 years ago
We might see a pullback now before more down.
Look at the dollar index...risky focusing on one market when these things are so macro.
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TheShakeOut IvanLabrie
2 years ago
Volume never lies. I am not short on it yet because I have not had the confirmation that I am looking for. Monday it is usually a low volume day, it is usually a test day. I expect higher prices on Monday, if it shows signs of no demand we might have a trade on Tuesday evening or Wednesday.
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IvanLabrie TOP TheShakeOut
2 years ago
Exactly...lower liquidity sessions are often retracement sessions.
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TheShakeOut vlad.adrian
2 years ago
Number 7 and 10, both show signs of no demand: volume is lower than the previous two bars and the close of the bar is not on the high. Price goes up on the open of the bar but it does not find enough demand to maintain the up move. It is a sign of weakness.
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IvanLabrie TOP TheShakeOut
2 years ago
I agree, but I prefer to see a smaller range than 7. 10 is fine by me...specially at a top.
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TheShakeOut IvanLabrie
2 years ago
I agree. I am also looking for a tighter range than bar 7. The high volatility after the FOMC on 19.03.2015 cause this wide bars, however, bar 7 it is weak bar no doubt about it.
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IvanLabrie TOP TheShakeOut
2 years ago
That's one of my favorite reversal setups...after an extended move, find the no demand/no supply bars and buy over the high/sell under the low.
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TheShakeOut IvanLabrie
2 years ago
That sounds like a good strategy. You will like my analysis then. I am going to analyze the daily chart of currencies daily.
+1 Reply
TheShakeOut vlad.adrian
2 years ago
Number 7 and 10, both show signs of no demand: volume is lower than the previous two bars and the close of the bar is not on the high. Price goes up on the open of the bar but it does not find enough demand to maintain the up move. It is a sign of weakness.
Reply
TheShakeOut
2 years ago
See next bar's analysis here:
Hidden buying in the Euro
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