Grey1
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we have discussed this many time on this BB ,, I think members still have problem so I thought to contribute some thing .
Before we go further , I too can be wrong no matter how many years experience i have behind me ,, so please understand that no one on this planet has the crystal ball and no one is correct all the time,, you really must understand this otherwise you keep looking for the rest of your life for the holy grail .
Tell tale signs are.
1) IF MACCI 5 min move from OB to OS how many points did INDU fall ,, if not many then the market is strong,
2) IF MACCI 5 min gets OB do you immediately get a SPIKE,, if yes then odds are that market is strong .
3) if MACCI 30 min and 10 min are getting OS then market gains strength.
4) if all European are in positive then the odds are that US closes in positive too.
The most obvious strong day nearly always INITIALLY sells off and it has to because all human have 2 legs 2 hands and same mind so the market gets flooded and market plays it weak to flush the WEAK HANDS .
5) Donot move in too early ... if you want to go long make sure you have back up , your back up is 30 and 10 min OS and 1 min trending up/ of course this is ideal set up but most traders donot wait for ideal set up . ( like myself and some times pay a hefty price too ) .
6) donot underestimate the power of 10 min indu .
7) end of a trend is often signaled by a SPIKE,,, in fact it is the second spike from high of the day which signals the end of the trend.
8) if market gapped up but went below LOW of the day then you are guaranteed the market will sell off later. ( and visa versa) This is important
9) if 30 min , 10 min , 5 min all heading different directions then the odds are NO ONE knows what is going on ,, trading under such circumstances is like playing roulette.
so wait for confirmation . This is the whole concept of multi time frame analysis .
we are going through a difficult times due to excess news attacking the market,, some news have the power of de railing the market. try to understand this and stop blaming your strategy or your analysis,, just accept it as fact of this business.
Grey1
Before we go further , I too can be wrong no matter how many years experience i have behind me ,, so please understand that no one on this planet has the crystal ball and no one is correct all the time,, you really must understand this otherwise you keep looking for the rest of your life for the holy grail .
Tell tale signs are.
1) IF MACCI 5 min move from OB to OS how many points did INDU fall ,, if not many then the market is strong,
2) IF MACCI 5 min gets OB do you immediately get a SPIKE,, if yes then odds are that market is strong .
3) if MACCI 30 min and 10 min are getting OS then market gains strength.
4) if all European are in positive then the odds are that US closes in positive too.
The most obvious strong day nearly always INITIALLY sells off and it has to because all human have 2 legs 2 hands and same mind so the market gets flooded and market plays it weak to flush the WEAK HANDS .
5) Donot move in too early ... if you want to go long make sure you have back up , your back up is 30 and 10 min OS and 1 min trending up/ of course this is ideal set up but most traders donot wait for ideal set up . ( like myself and some times pay a hefty price too ) .
6) donot underestimate the power of 10 min indu .
7) end of a trend is often signaled by a SPIKE,,, in fact it is the second spike from high of the day which signals the end of the trend.
8) if market gapped up but went below LOW of the day then you are guaranteed the market will sell off later. ( and visa versa) This is important
9) if 30 min , 10 min , 5 min all heading different directions then the odds are NO ONE knows what is going on ,, trading under such circumstances is like playing roulette.
so wait for confirmation . This is the whole concept of multi time frame analysis .
we are going through a difficult times due to excess news attacking the market,, some news have the power of de railing the market. try to understand this and stop blaming your strategy or your analysis,, just accept it as fact of this business.
Grey1
