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I guess 2X more than expected Non-Farm Employment Change ( 336 K vs 171 K, that is 165K too many people having jobs ) would do the trick
and provide another JOLT down. By now we know that jobs are bad for current economy and unemployment is good. No arguments there.
But back to our lambs. Shall we breach 14.600 barrier this time ? What big boys are gonna do this time ? Join the bears or trap them as usual ?
If these are not text-book stacked imbalances then I dont know what they are.
Can you help answer these questions from other members on NexusFi?
The best advise i can give is to forget all fancy indicators and learn everything you can about Auction Market Theory.
This video gives a good first impression:
Read about details of the auction process (Balance, Imbalance, poor high, strong high, weak high, excess, ... for example here https://www.shadowtrader.net/glossary1/
I thought that today in the rth after the nfp we could eventually get a decision of the market which way it wants to go. Of course no idea what the direction will be
The eth traded lower but not by much. It stayed inside the multiday balance
I used y rth l and the overnight low (onl) as milestones to judge the rth development and to make trade decisions
We never took out the onl
we had problems taking out y rth l
B-period never took out A-period
That is all market generated information (MGI). That is much better to use than any media or other bs
i took one long early and lost on it
i gave the second long a bit room and it worked. Took both contracts out at weekly volume poc
If the long had failed and we would have seen some acceptance below the milestones i would have changed direction
Experience has shown that understanding the influence of time and trading logic is more
important to reaching a holistic view of the marketplace than (TPO Structure).
Structure acts as the market's translator, and translated information is second-hand information. The market has already
spoken in the form of time and logic. Traders who rely exclusively on structure without integrating time and logic will be late in entering and exiting the market.
I guess I dont need to mention origin of this quote. The point being until the logic behind Friday move is fully understood use of AMT does not differ much from any indicator as TPO itself is simple record of what has already passed and thus offer historical record with same amount of forecasting ability as any indicator.
I personally can offer only one explanation: short squeeze, which please correct me if I am wrong is not covered by AMT as it is not linked to the concept of fair value but rather to the concept of cutting your losses.