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h00ts

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08/11/18

20:05

Post #: 36439065
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Originally posted by Jako8557 ↑

The XJO closed higher on Thursday, breaking above the period of potentially 'bullish absorption' marked in green.
** for @h00ts - I believe this is what Oscar often calls his 'F' flag - which is what I call 'bullish absorption' (this is not officially a Wyckoff or VSA principle) - I outline the general properties as I see them in the links of this post **
With some buying in the background, followed by a period of bullish absorption, this is looking much more positive for the future.
Spread (or range) reduced on Thursday, and volume increased to a little above average, which illustrates that supply was being drawn out. Price is now adjacent to the mid October highs, so some increased supply at this level does not surprise.
It seems the market was attempting to absorb its way through the supply on Thursday, however if this supply becomes overwhelming, I expect a (brief and shallow ??) pullback of some type.
The response on Friday will likely be obvious in the first hour or so. Personally I expect if price attempts to move higher, it will close poorly at the line around ~5950, and if it pulls back it will be relatively modest (the real move will come next week - either way)
View attachment 1357719

cheers

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I had an "F" - Flag today - I think I created a new record ( for Me ) I had $500 in each of 3 betting accounts and turned over $22k in bets for a net $200 advance in the cumulative accounts '

Some tosser on the A2M thread almost accused me of being a party to murder for betting on the horses

Yes classical Oscarism F flag there

STOPS ARE INNN !!!! EEEEEEmotions ARE OOOOOUT !

Last edited by h00ts: 08/11/18

XCL Price at posting: 0.0¢ Sentiment: None Disclosure: Not Held
7 Upvote

2 Great analysis

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