I'm effectively out of action to-day.Sore throat, ear ache and sickness has kept two/three of my gang away from school.
Funny how they appear on the mend the moment they do not go to school!So lots of little distractions around me to properly focus on thread.
Sorry.
leeshindig
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lonely hooya?
mully said:
Couldn't agree more. After 8 years in this game I look at that stuff really 'just for fun'
I used to get so bogged down in Elliott, gann etc with all the associated stuff and could never make a decision because of, 'what about this and what about that..."
So yes, KISS is my approach also.
One of my motto's is:
Trade the market, not the forecast. At all times protect your capital.
And
The name of the game is not to predict what the market will do but HAVING A PLAN that enables you to be proactive ( I used to react) to what the market actually does.
That's it for me for the weekend. Friday night here ( GMT + 7) and dinner at a mates place.
Regards,
KJH
Sorry, been quite lazy with my postings.
Just a quick summary of the last couple of days action.
Sideward price action makes the moving average no use, so looking to play off pattern formations.
Nice 20 point triangle on Wed...extra points if u shorted from 4,440...clue was in the rsi...notice how it was overbought relative to the last LH.
Did make some other trdes yesterday but the main was the Gartley butterfly formation..buying at point D..totally oversold (especially to point B). Target was point 3.
Point 5 marked end of Wolfewave and failed retest of HoD (2 peak negative divergenc to confirm) ...also marked short from LH of 4,450 . Moving towards Wolfewave target which is forecasted by joining points 1 and 4.
As Hooya pointed out, looking for channel support at 4,420.
Break of 4,410 would mark a LH and restart of a downward movement??
Just a quick summary of the last couple of days action.
Sideward price action makes the moving average no use, so looking to play off pattern formations.
Nice 20 point triangle on Wed...extra points if u shorted from 4,440...clue was in the rsi...notice how it was overbought relative to the last LH.
Did make some other trdes yesterday but the main was the Gartley butterfly formation..buying at point D..totally oversold (especially to point B). Target was point 3.
Point 5 marked end of Wolfewave and failed retest of HoD (2 peak negative divergenc to confirm) ...also marked short from LH of 4,450 . Moving towards Wolfewave target which is forecasted by joining points 1 and 4.
As Hooya pointed out, looking for channel support at 4,420.
Break of 4,410 would mark a LH and restart of a downward movement??
Attachments
Here are the links...
Gartley.... http://chart.mine.nu/ta_g.htm
Wolfewaves..... http://chart.mine.nu/wolfewave.htm
Enjoy!!
Gartley.... http://chart.mine.nu/ta_g.htm
Wolfewaves..... http://chart.mine.nu/wolfewave.htm
Enjoy!!
mully
If you have time in between nose blowing, eye wiping and other caring pursuits can you explain why your earlier charts of ftse 100 & 250 indicate that the 250 paints a weaker picture and the decline does not look complete? The latest channels of both look similar, What am I missing.
No i'm not going to rise to butterfly and wolfe, merely KISS it away.
Regards
bracke
If you have time in between nose blowing, eye wiping and other caring pursuits can you explain why your earlier charts of ftse 100 & 250 indicate that the 250 paints a weaker picture and the decline does not look complete? The latest channels of both look similar, What am I missing.
No i'm not going to rise to butterfly and wolfe, merely KISS it away.
Regards
bracke
Sorry Hooya,
Taking about yesterdays intraday low on the S&P yesterday at 1092. It was being heavily defended. It then moved up and closed at 1096 to create a LH. The futures has moved 1092 creating a LL and a potential to retest the lows of 1075....IMHO
Taking about yesterdays intraday low on the S&P yesterday at 1092. It was being heavily defended. It then moved up and closed at 1096 to create a LH. The futures has moved 1092 creating a LL and a potential to retest the lows of 1075....IMHO
Alright---- Yes I looked at those two links. I am coming to the conclusion that there are as many methods and combinations of methods indicators / smindicators as there are traders.
To take notice of even a small proportion of them would see me disappearing up my own divergence.
I appreciate that the idea is to find what suits each of us even if some of the offerings might be considered esoteric academia.
Correct me if I am incorrect ( thats an ivitation to a verbal flogging!) but all these systems appear to use price movement, why not just use that in its pure and simple form.
Steps down from soapbox, exits and awaits bric bats
Regards
bracke
To take notice of even a small proportion of them would see me disappearing up my own divergence.
I appreciate that the idea is to find what suits each of us even if some of the offerings might be considered esoteric academia.
Correct me if I am incorrect ( thats an ivitation to a verbal flogging!) but all these systems appear to use price movement, why not just use that in its pure and simple form.
Steps down from soapbox, exits and awaits bric bats
Regards
bracke
"why not just use that in its pure and simple form." if you can do so.....not easy though.
Bracke you seem very sceptical about this whole trading thing......is there any reason for it.
Fin, ok I see where yuou are coming from. I prefer to wait for intraday confirmation?
Bracke you seem very sceptical about this whole trading thing
......is there any reason for it. Fin, ok I see where yuou are coming from. I prefer to wait for intraday confirmation?
