Supply and demand question

This is a discussion on Supply and demand question within the General Trading Chat forums, part of the Reception category; Just wondering about the theory of bounces...what is going on in the market/traders' minds? 1 Sellers get in 2 Rejection ...

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Old May 1, 2009, 11:13am   #1
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Supply and demand question

Just wondering about the theory of bounces...what is going on in the market/traders' minds?
1 Sellers get in
2 Rejection off support
3 Who is selling here and why?
4 Bounce off support (classic time to buy)
5 Profit taking from buyers?
6 Some buyers stay in and bounce of recent resistance turned support line.
7 Profit taking buyers close turning into sells.

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Old May 1, 2009, 11:18am   #2
 
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Funny that, Wasp's just posted a similar thread.

http://www.trade2win.com/boards/firs...hy-though.html
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Old May 1, 2009, 11:27am   #3
 
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Just an observation, and sorry not to answer your question directly, but you sound like the type of person that could get a lot from Market Profile / Auction Market Theory.... Look into "Mind over Markets" by Dalton if you haven't already.. I had the same questions and found a great deal of insight in his and Steidlmayers books. Its not a system.
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Old May 1, 2009, 12:05pm   #4
 
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(1) Trend line violated at third touich, traders traopped inlosing trades, when nprice retutrns latyer on at (2) tradwer gets out at break even and those that got the market directin right earlier want another piece of pie ansd jump back in again so it becimes resistive.

I think the actual high of that reversal at R was pip perfect to the weekly high of two weekd ago.

So0rry i.ve had a sleeping pill and it's just bkicked in, tomorrow dudes

dd
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Old May 1, 2009, 2:28pm   #5
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Heres how I look at things

What ya think?
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Old May 1, 2009, 2:36pm   #6
 
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What does it tell you, is the more valuable question....
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Old May 1, 2009, 2:43pm   #7
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Tells me that more highs are being tested than lows.
That all the people who jumped ship into euro (major players) are trying hard keep their portfolios valued at the current level by offloading positions slowly (into god knows where) which is responsible for the channel.
Tells me there's likely to be another topside move to smash through that narrowing channel to either test highs again or maybe find support which is daft because if cable and this "recovery" the indices is showing continues for the next couple of weeks are anything to go by euro is going to flop because its not needed.

This is all subject to employment figures and interest announcement though so who knows what will happen
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