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Train your eyes to see this market maker's agenda.20181213 14:45 in EURUSD 15 minute chart London session, cc59 counting gave a "+9" and "rsi>70" labels near the green horizontal line (previous day's high) and the horizontal light blue line (cc59 resistance) making the prices between these lines a "resistance zone". Later on at 20181213 19:45 in New York session, the market makers made a wide range stop hunting in both up and down directions forcing many investors to close their positions with losses. In this stop hunting, the price went up and briefly entered the resistance zone defined earlier. Investors with trained eyes would have seen this price shooting as a good opportunity for a short selling with a target of +50 pips downward. If they missed that moment, there was a second chance for that 45 minutes later. The profit taking target of 50 pips would have been reached within 2 hours. The image below was a snap shot from my Android smart phone that rendered EURUSD chart in TradingView with Graph Reader Pro 4.0 invited-only-script. 2.bp.blogspot.com
Education
by nimit.chomnawang
Investment in TASC01P1903A derivative warrant with SET:TASCO H1.This educational idea studies an hourly graph of SET:TASCO, a big asphalt refining company in Thailand. The aim of this study is to learn spotting a setup for a new downtrend so that a PUT Derivative Warrant referencing this stock could be entered for short-term investments. With Graph Reader Pro 4.0 for TradingView, many tasks for this study are done automatically. From the left of the chart, CC59 resistance (orange line) and CC59 support (light blue line) are generated by completions of -9 and +9 at 15.50 THB and 15.20 THB respectively. The price goes from between these lines down to below the light blue line to set the first "Min" point. Two bars later, the "MACDSig" label is printed to show that the MACD value is now higher than its own SMA9. This confirms a new uptrend. In addition, a series of positive CC59 counting is started. It is completed with the +9 bar. At this point the new CC59 support line is drawn at 14.90 THB. The price is also now crosses above both original light blue and orange lines. After that a tall bullish "Anchor" bar appears to create an "RSI>70" warning. The highest price of 16.10 THB is marked manually to see whether the price movement could go higher from here. Two bars later, the second "Min" point is printed. A dotted yellow demand line linking both "Min" points is then drawn manually to check for the beginning of a new downtrend. Four bars later the SMA3 line changes its color to red showing that the MACD value is now decreasing. The price bar also closes below the dotted yellow demand line. At 20181018 10:00, the label "MACD<Sig" is printed to confirm a new downtrend. This is an opportunity to buy TASC01P1903A PUT derivative warrant referencing SET:TASCO at the price 0.54 THB. At 20181024 09:00 (six days later), the price of SET:TASCO closes below the new CC59 support line (14.90 THB) while the price of TASC01P1903A PUT derivative warrant hits its previous high. This is a good exit point at 0.64 THB since the return of this investment is already +18.5%. To get invited to use the Graph Reader Pro 4.0 for TradingView, please contact me in the chat box.
SET:TASCOEducation
by nimit.chomnawang