wasps WOT part 2

This is a discussion on wasps WOT part 2 within the General Trading Chat forums, part of the Reception category; same drill whilst Jon's away..........

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Old Feb 24, 2009, 10:51pm   #1
 
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wasps WOT part 2

same drill whilst Jon's away.......
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Old Feb 24, 2009, 11:29pm   #2
 
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wasp started this thread dailies again
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Old Feb 25, 2009, 12:09am   #3
 
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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.
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Old Feb 25, 2009, 1:34am   #4
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seems obvious, no?...a touch of db...a dash of wasp...and do the opposite of whatever fw posts...
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Old Feb 25, 2009, 1:35am   #5
 
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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
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Old Feb 25, 2009, 1:38am   #6
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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.
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Old Feb 25, 2009, 2:20am   #7
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divergence has occured, GU chart is just example and can look for other long signal.
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