hungrybear
Active member
- Messages
- 209
- Likes
- 0
One thing direct access to the markets is good for is rapid price action. Seeing the price a fraction faster allows you to get a better price once you've decided to enter a trade as you can wait for the price to move in the expected direction before clicking. I've noticed that seeing the price through my software charting isn't quite fast enough to give me that margin.
BTW, I mean getting a better price through a SB company, who take a fraction of time to alter their prices.
BTW, I mean getting a better price through a SB company, who take a fraction of time to alter their prices.
Everyone
Sorry been quiet this week.
Completely nobbled myself on Tuesday morning by lifting a heavy load and turning at the same time. Been in severe pain unable to sit at my trading desk. Anyway just been to osteopath so some semplance of normality returned.
Just noticed VIX trading at 18.44 and SP500 could have a 5 wave count on the 1 minute chart from 14.00 yesterday. Any thoughts
Sorry been quiet this week.
Completely nobbled myself on Tuesday morning by lifting a heavy load and turning at the same time. Been in severe pain unable to sit at my trading desk. Anyway just been to osteopath so some semplance of normality returned.
Just noticed VIX trading at 18.44 and SP500 could have a 5 wave count on the 1 minute chart from 14.00 yesterday. Any thoughts
hungrybear
Active member
- Messages
- 209
- Likes
- 0
IMO it's wave 3 of 3 of 5 completing, so should see a retrace the up for 5 of 3 tomorrow. Wave 4 of 5 Mon/Tues, then blast up to Fri 17th for final wave 5 of 5 of C from Oct last year. If this pans out and it hits 1069 it'll be bye bye bulls. If it doesn't then I'll re-assess.
hungrybear
Active member
- Messages
- 209
- Likes
- 0
Mully, I just wrote a detailed response but it was lost when I clicked the wrong button by mistake 
In essence, I only have wave 3 extending, though wave 3 within 5 extends. In any event, a wave is a wave and always ahs a sub-structure, so an extended wave could just be a very big wave :cheesy:
Bottom line is that I'm no expert, but I try to find the simple wave count as too many 'experts' always find complex counts to justify their positioning. I also look for fib levels to agree with my analysis, so as the first wave went to 23% SnP, 38% Dow, the current wave should go to 38 & 61.8 respectively. Then it's a case of looking for the fib time correlation, one of which points to the coming week.
If the market doesn't do what I expect (it rarely does, at least short-term, or I'd make a fortune ) I reassess, so watch for me changing my mind next week! Never trade on what I post, I just like to share it and if it does help anyone or someone agrees with me then great!
In essence, I only have wave 3 extending, though wave 3 within 5 extends. In any event, a wave is a wave and always ahs a sub-structure, so an extended wave could just be a very big wave :cheesy:
Bottom line is that I'm no expert, but I try to find the simple wave count as too many 'experts' always find complex counts to justify their positioning. I also look for fib levels to agree with my analysis, so as the first wave went to 23% SnP, 38% Dow, the current wave should go to 38 & 61.8 respectively. Then it's a case of looking for the fib time correlation, one of which points to the coming week.
If the market doesn't do what I expect (it rarely does, at least short-term, or I'd make a fortune
) I reassess, so watch for me changing my mind next week! Never trade on what I post, I just like to share it and if it does help anyone or someone agrees with me then great!hungrybear
Active member
- Messages
- 209
- Likes
- 0
That must have been painful for a while!
barjon
Legendary member
- Messages
- 10,752
- Likes
- 1,863
bonsai
I suppose your daily summary will show a good days trading.
Mine would have been better if I'd left the crystal ball in its box.
Closed my long too early, stopped out of a short and missed the
cream at the top of the milk. It was that gravestone doji - mind
you it's not fully negated yet ...... there I go again, slap my wrist,
where's that hammer!!
good trading
jon
I suppose your daily summary will show a good days trading.
Mine would have been better if I'd left the crystal ball in its box.
Closed my long too early, stopped out of a short and missed the
cream at the top of the milk. It was that gravestone doji - mind
you it's not fully negated yet ...... there I go again, slap my wrist,
where's that hammer!!
good trading
jon
not today I'm afraid.
missed the early rally. just didnt read it at all.
I guess that gravestone put me off my stroke.
stuff those candles ! they're a damn nuisance sometimes.
no, its me - I only look at them superficially and that's never good
enough with any system.
mea culpa.
still, got a few at the end. but that was hard work.
missed the early rally. just didnt read it at all.
I guess that gravestone put me off my stroke.
stuff those candles ! they're a damn nuisance sometimes.
no, its me - I only look at them superficially and that's never good
enough with any system.
mea culpa.
still, got a few at the end. but that was hard work.
hungrybear
Active member
- Messages
- 209
- Likes
- 0
Morning all,
I had a sell signal early this morning, but didn't take it as the futures were already discounting the cash by 10 points. Does anyone have any view on the risk of entering when there's already such a significant discount?
I had a sell signal early this morning, but didn't take it as the futures were already discounting the cash by 10 points. Does anyone have any view on the risk of entering when there's already such a significant discount?
