Thread: Action Reaction

Last line of support for the SP emini. I have no other supporting analysis that this is going to turn around.

same here, ... we both try to catch the falling AUDUSD, now on M1 there is a bullish butterfly, so another long try :-)
point is to always lose small

I agree Kor.

Here was an opportunity I should of grabbed, but I didn't have the .618 line on my chart at the time, I was waiting for it to go higher.oh well, still don't trust that .618 line.

S&P Emini


Obviously I missed the entry (final episode of good tv series was on) , would anyone enter here?

Well it didn't break through the supply and demand level, it then dropped. Didn't take much notice of ye old 6-string.



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SP500



Not to be, stopped out from prev high.

Exited too soon. It continued to respect that line. I thought it was going to breach it.



This is how it ended up.

Hi jos, what do you think of this? is the correct way? how would you do that?





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Firstly I don't have much confidence in the 61.8 retracement although it seemed to be effective on the recent euro pattern above. I try and look for more accurate or precise reactions so I can get in earlier without having a huge stop. I would of maybe looked to use these points instead because of the more precise reaction. I suppose you could say this technique is all about the precision, if your market precisely hits on the strings and reacts to it then you may have a winning trade. In your example your application is good, but I would not trade on that information maybe on the info below. You'll also notice that price action is respecting the line even with it's sharp angle.