I have just watched the following:
And from the explanation given, it is unclear whether the PBs are long TPs (above price – green) and short TPS (below price- red), or whether they are actual entry points.
This would make sense, SL levels on the left, TP levels on the right…..
….However, I have seen other explanations that imply that as the name suggests ‘Position Bars’, are the levels that the longs and shorts entered the market at. The issue with this however, is that there are practically NEVER any greens below price (indicating DM in profit, which there is always a small amount off) or vice versa, with reds above price. I find this highly unlikely…I also sat and watched a PB flicker red n green depending on whether price was above or below it, on the EURGBP
Which is it?
Also notice that the PBs on the older MK-streams, (1st image) seem far more legible than they do on the current one (2nd image).
Dare I also ask, whether the PBs are working as intended on the new MK-web stream?
This is a screenshot from the DM Position Runs & PB Principle.
Red Circle shows the minority of DM shorts who are in profit at current prices, and a minority of DM longs that are in profits at current price.
if PBs represent the levels that DM entered that market at, this would be more like what I would expect to see, also with much more legible clear sized bars, comparable to the Stop/Limit order bars to the left.
Conclusion. The PB bar element of the updated MK-Web stream, just isn’t working properly, is it?
They are positions currently in the market, not tps. The bars were made much smaller over the years, probably because they are not a top priority. Now a days they change colour depending on if they are above price or below (what you saw with the flickering is what I mean). It may not work perfectly but who cares, its never a problem.
When they are significant and “real” enough to be of importance, you will know; I know that’s vague, I apologize for that, its a part of MK that just takes time and experience. 🙂
So, perhaps why the EURUSD on it’s Long SL cloud flush on the NFP release, didn’t want to go down and grab the other Orange LONG SL level, beyond the near term SL cloud. They didn’t want to give any of that notably thick cluster of short PBs circled yellow) the opportunity to escape their positions with their shirts still on their backs, with price literally stopping just above them?
4hr chart (with updated price) perhaps show the reasons for precision of the game clearer?
This replies to both of your posts above. – Definitely a possibility I would agree with, NetDM longies were also very low so no need to run heavily against them.
I’m really glad to see your starting to get it, I’ve forgotten how fun it is to talk about the brilliance of the MK. That 4H pic is a perfect example of “knowing what to look for” like I mentioned previously.
Do you see how the PB cluster on the 4H creates what we are told is “support/resistance/zones or whatever else”?
Yes….Big key Horizontal Support Resistance Level, Where Supply meets Demand….or more accurately, the point where Supply REFUSES to meet Demand, and prices pivots away and doesn’t look back.
It was a classic technical level to shoot long from from a conventional TA standpoint. A 61.8% from a resolved significant Supply and Demand zone, with still strong upside momentum as per multi timeframe MACD conditions.
But of course, the exact same trade setup could also fail and they do fail all the time, and that is where the MK-Indicator comes in. The MK indicator shows in no uncertain terms, that the DM is heavily short, and not so much the Path of Least Resistance, but the Path of Maximum Pain is still very much to the upside, thus trend following longs have to be very much the order of the day……and it wasn’t a 61.8% retrace either…it was something more like 74% retrace, stopping just above the start of that clump of Short PBs…….Rinse all the Long SL cloud, just down so far, as not to let the Short’s exit their trades at breakeven…..I suspect this will be a rather common occurrence, as indeed will a simple RINSE of NT and MT SL levels, down to a point where there is a decent gap until the next batch, and it becomes no longer profitable for the market makers to keep running that market in the same direction.
……as I have said before, whilst I have only had the indicator for 1 and a half trading days, from what I seen so far, it seems pretty much like a ‘wall hack’. Having a tool like this which can really filter which trades to take, and which to stay out of, has to be a total game changer. Unbelievable the way it works….among the downsides of course, and there are a few, is that the data is only fully furnished for the EURUSD and perhaps the GBPUSD, then in increasingly diminishing degrees for the rest of the pairs. Previous to getting hold of this, I would pretty much trade anything that looked good, and with a reasonable level of success doing so. Now, it would be frankly foolish to touch any symbol not covered by the MK-streams.