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Alright, glad to see we're getting some participation! Lots of work to be done here. Let's address these points one at a time, and see if we can come up with consensus or contentiousness or, ideally, both.
"It does not matter how slowly you go, as long as you do not stop." Confucius
Can you help answer these questions from other members on NexusFi?
Trading is all about Supply Demand, Fear and Greed. It's been my experience that when Price has a strong, very fast upthrust into a Supply area (not a resistance area but a supply area, there's a big difference) it's simply a push by big money to capture large Resting Sell side Liquidity at that level. Who owns that sell side liquidity which might have been sitting at that level for hours? It belongs to the same institutions who caused the initial push. Why would they do this?
Large firms know that when they Initiate this fast pace push upwards there will be others who will join them in this buying frenzy, emotional buyers. Once their sell side liquidity has dried up these larger firms will push price back down eating away at the stops of those unsuspecting buyers. This will initiate others to join the downward momentum causing price to tumble.
If you have ever wondered why price reversed on you to the tick when buying in a fast pace upward market this is most likely the reason why... Again, this is only my opinion and I could be completely wrong, However I look at trading as a big psychological game and this train of thought has worked for me so far, JP.
Gentlemen, if you would be willing to illustrate your points with some visual (ch)art, as your time and inclination permit, of course, that would be greatly appreciated!
"It does not matter how slowly you go, as long as you do not stop." Confucius
Lol. If it was I wouldn't be able to post the picture. But it is a fast response ship. The engine room obviously. And those baby's scream! Hearing protection required