Member Info for Ableton

Pipedreamer - Are you using Elliott wave theory if so how have you found it to be a reliable way of anticipating price moves?

Pipedreamer - The 20.12.2023 high was a measured move from the recent swing high (15.11.23) to swing low (30.11.23).

Using a measured move the price target was 42.06. For clarity here are the numbers using data from Yahoo Finance:

36.65 = 15.11.23 high. 31.24 = 30.11.23 low. Therefore (36.65 - 31.24) + 36.65 = 42.06.

Measured movers are a reliable way of determining potential swing price levels.

All due respect but the 1 minute chart is just intraday noise. Position / swing / short term traders will use the higher time frame charts (monthly, weekly & daily) & use the hourly & minute charts to fine tune their entries & exits.

Day traders will also use the higher time frame charts to determine their daily bias (bullish or bearish).

Who is selling? Institutions who bought in the 300's are selling to shorts who have buy stops located above old highs & to break out strategy traders who also have buy orders located above old highs & uniformed retail traders who think they are being smart by paying a premium.

External range liquidity has been recently purged so now internal liquidity should be sought. Therefore I'm anticipating price retracing to retest the recently defended price levels (39's, 38's & 37's). If bullishness is still alive & kicking then price should respect those levels before a further move higher. Interesting times now that price has taken out a longer term high & GLA.

24% of the Shein reviews are 1 star!

https://uk.trustpilot.com/review/shein.co.uk?stars=1

41.29% of web traffic from Coupons and Rebates - Just checked 'my vouchers' & free next day delivery is available as well as save 50% + additional 10% voucher. UK consumers looking to save money which is totally understandable in the current financial climate.

Midway - Which chart time frame are you looking @ with your 200DMA 39.22 level?

Shorts will have their buy stops located above old highs so makes perfect sense.

WolfofWarks - I guess if you're making money & not loosing money then it doesn't really matter how you validate a trade.

WolfofWarks - If you have an understanding of price action (not indicators & trend lines) you can anticipate where price is more than likely to reach for & see my 21st November post below. Todays high was 37.50.

I'm anticipating price moving lower (below 35.2 level) & a move higher to purge the sell side liquidity above the high created on 15th November (36.65). Note price could take a few trading sessions to get to the 36.65 & my eye is also on the 37.50 level.

Hi Jeremy - I'm not a fan / don't use any retail stuff (MA's, channels, wedges, flags, indicators etc).

I'm anticipating price moving lower (below 35.2 level) & a move higher to purge the sell side liquidity above the high created on 15th November (36.65). Note price could take a few trading sessions to get to the 36.65 & my eye is also on the 37.50 level.

Consumer price inflation UK: October 2023? 15th November 2023 @ 07:00.

https://www.ons.gov.uk/releasecalendar?query=inflation&view=upcoming&page=3

A review of the Weekly chart confirms a swing low has been formed & price has closed higher for the last three consecutive weeks. Weekly chart: Fare to assume a bullish bias.

Todays price print: Price closed above the previous days close therefore again a bullish bias can be assumed using this simple rule of thumb.

Jeremy - Yep! Price moved lower to a bullish order block / relatively equal lows & respected the OB & lows & popped right back up. I'm hoping price still wants to stay above the previously discussed 31 level.

People Power - It was pure & simple bread & butter price action today (a move lower to fill orders & a liquidity sweep followed by an aggressive displacement higher).

Hi PDS2023 - Two retests @ the 31 level (morning & again in the afternoon) plus a strong finish does provide some reassurance for the bulls.

Mike & his team have probably run through the multiple scenario's that could play out & have moves ready to make depending on what the other actors do or don't do. It's a win-win for Mike - He profits from cyclical stocks or a take-over or both.

Perhaps Mike bought into BOO & ASC & other brands to stop Shein from making a move(s) without his say so or from him not profiting from any deal(s). It's easier to buy a ready-made brand with all that juicy customer data than to start one from scratch.

Agreed! A close tomorrow above todays high would be bullish for sure & I'd also like to see the 31 level retested as further confirmation (the recent highs @ 31 that were 'resistance' are now supporting price).

Today price ran out last week's high & the relatively equal highs formed prior to 3rd October. Anyone short would have their buy stops resting above that high therefore the buy stops were triggered.

100% agree! If you get over emotional when taking a position to the point that you want to argue with total strangers over many hours & many days, then investing, position / swing trading is just not for you & or your position size is way too large.