wasps WOT part 2

wasp · Feb 24, 2009, 5:51pm

same drill whilst Jon's away.......

wasp · Feb 24, 2009, 6:29pm

dailies again

trendie · Feb 24, 2009, 7:09pm

as you said in your other thread, strictly speaking, this shouldnt be about prediction, ie, wot actually happened next.
more, it should be about where price needs to go for it to become interesting.
what line in the sand does price need to cross for you to consider a change in trend and to assess ones reaction to it.

not quite sure what those horiz-bars are. I suppose they are Market Profile type stuff?
I am treating them as areas of heavy action. if so, price should shoot through the light-vol gap.

rainman2 · Feb 24, 2009, 8:34pm

seems obvious, no?...a touch of db...a dash of wasp...and do the opposite of whatever fw posts...

dick_dastardly · Feb 24, 2009, 8:35pm

Hmmm ???

No empty space above the current price action and none below ?

You're getting better at this Wasp

Do I know what happened next ?

Nope!

Do I know what I'm gonna do ?

Yup!

dd

MrGecko · Feb 24, 2009, 8:38pm

Assuming the sideways bars are something to do with volume @ price, them the last low co-incided with a "value area support" type level. Either way, it reversed but didn't set a new high. We made a Double top in a period of consolidation during a downtrend, ad have just broken through a "soft" trendline.

Looking to re-test the low shown in either of the ways shown here.

Perspective changes if we break the highs of the double top, then all my levels shown in blue, and I would probably ad a Fib in there too.

everyonerich · Feb 24, 2009, 9:20pm

divergence has occured, GU chart is just example and can look for other long signal.

megamuel · Feb 24, 2009, 10:27pm

Hmm, I'll probably get laughed at for this but oh well, its only a bit of fun!

Looks bearish on long term. There seems to be a small double top there showing resistance, I'd say initially price rises towards this resistance but finds it below the double top - at where I have drawn my trend line. It bounces off this towards the downside, finds support at the major low, and starts a new trend towards the upside, breaking through all previous support and resistance. It then finds a new level of resitance whish it will test twice and then break on the third attemp.

Now anyone wanting to get this right - draw exactly the opposite of what I just have!!!

Sam.

Feb 24, 2009, 5:51pm	#1
wasp Banned Member Since Aug 2003 5,159 Posts	wasps WOT part 2 same drill whilst Jon's away....... Attached Thumbnails

Feb 24, 2009, 6:29pm	#2
wasp Banned Member Since Aug 2003 5,159 Posts	Re: wasps WOT part 2 dailies again

Feb 24, 2009, 7:09pm	#3
trendie Legendary Member Member Since Jan 2004 5,684 Posts	Re: wasps WOT part 2 as you said in your other thread, strictly speaking, this shouldnt be about prediction, ie, wot actually happened next. more, it should be about where price needs to go for it to become interesting. what line in the sand does price need to cross for you to consider a change in trend and to assess ones reaction to it. not quite sure what those horiz-bars are. I suppose they are Market Profile type stuff? I am treating them as areas of heavy action. if so, price should shoot through the light-vol gap. Attached Thumbnails __________________ # If the only tool you have is a hammer, you tend to see every problem as a nail - Abraham Maslow # There are 10 kinds of people in the world; those that understand binary, and those that dont. -Anon # Ed Seykotas Whipsaw Song http://www.youtube.com/watch?v=LiE1V...Wlxk8&index=10 # Defeat is temporary. Giving up makes it permanent. Anon

Feb 24, 2009, 8:34pm	#4
rainman2 Senior Member Member Since May 2006 139 Posts	Re: wasps WOT part 2 seems obvious, no?...a touch of db...a dash of wasp...and do the opposite of whatever fw posts... Attached Thumbnails

Feb 24, 2009, 8:35pm	#5
dick_dastardly Veteran Member Member Since Jun 2003 849 Posts	Re: wasps WOT part 2 Hmmm ??? No empty space above the current price action and none below ? You're getting better at this Wasp Do I know what happened next ? Nope! Do I know what I'm gonna do ? Yup! dd Attached Thumbnails

Feb 24, 2009, 8:38pm	#6
MrGecko Banned Member Since Nov 2007 2,822 Posts	Re: wasps WOT part 2 Assuming the sideways bars are something to do with volume @ price, them the last low co-incided with a "value area support" type level. Either way, it reversed but didn't set a new high. We made a Double top in a period of consolidation during a downtrend, ad have just broken through a "soft" trendline. Looking to re-test the low shown in either of the ways shown here. Perspective changes if we break the highs of the double top, then all my levels shown in blue, and I would probably ad a Fib in there too. Attached Thumbnails

Feb 24, 2009, 9:20pm	#7
everyonerich Legendary Member Member Since Nov 2008 1,113 Posts	Re: wasps WOT part 2 divergence has occured, GU chart is just example and can look for other long signal. Attached Thumbnails __________________ Life's greatest pleasure lies in helping others accomplish their desires.

Feb 24, 2009, 10:27pm	#8
megamuel Legendary Member Member Since Jul 2008 1,101 Posts	Re: wasps WOT part 2 Hmm, I'll probably get laughed at for this but oh well, its only a bit of fun! Looks bearish on long term. There seems to be a small double top there showing resistance, I'd say initially price rises towards this resistance but finds it below the double top - at where I have drawn my trend line. It bounces off this towards the downside, finds support at the major low, and starts a new trend towards the upside, breaking through all previous support and resistance. It then finds a new level of resitance whish it will test twice and then break on the third attemp. Now anyone wanting to get this right - draw exactly the opposite of what I just have!!! Sam. Attached Thumbnails __________________ "I have not failed. I've just found 10,000 ways that won't work." Thomas A. Edison

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