SLAyers' Notes

[dbphoenix]

So where do you enter?

 

[EldnitJ]

One could have seen 1 as a failure to break above the LSH and shorted there. If one missed the entry at 1, he could have entered on the retracement and then failure on bar 2

If one was using trendlines, the break of TL and retracement at 4 would have been an entry

0, the break out of the hinge was an entry.

 

[dbphoenix]

One couldn't have seen 1 as a failure to break above the LSH and shorted there. If one missed the entry at 1, he could have entered on the retracement and then failure on bar 2

If one was using trendlines, the break of TL and retracement at 4 would have been an entry

Trading failures is not part of the SLA. Therefore, there is no entry at (1). There is no entry at all until after the DL is broken. The DL is broken at (2).

 

[EldnitJ]

Trading failures is not part of the SLA. Therefore, there is no entry at (1). There is no entry at all until after the DL is broken. The DL is broken at (2).

I thought we were in a range and AMT was applicable?

I guess I'm confused again. Back on 12-10 I posted a chart with this very DL and we went through whether we were trending or ranging and determined we were ranging. Am I wrong in saying SLA is for trending and AMT is for ranging? When did we leave from ranging and start trending? If we are still ranging isn't a failure an appropriate entry?

 

[dbphoenix]

Go back to post 364 and start there.

 

[dbphoenix]

Catch-up

 

[Gring0]

NQ has had a drop. The hinge BO to the downside is going well. Hourly is still pointing down (using SLA). We are approaching area where potential demand could come in (using AMT).

On closer inspection the hourly was poked briefly but price did drop fractionally below the LSL. The 4480 area is worthy to keep an eye on.

Gringo

 

[dbphoenix]

I should point out that the bottom of the hinge is 4471. This is 112pts below the apex of the hinge. Price rallied 112 pts above the apex of the hinge on Wednesday.

Db

 

[dbphoenix]

Nov Lo=53. Prv SH=49.

 

[Gring0]

This is a bit getting into extended territory. Price has breached below the TR. It has the potential to change the course of this bull market. Perhaps not now but the weakness is quite pronounced. Then again, the decisions are made at the extreme. We are at one and demand might start tiptoeing back.

Gringo

 

[dbphoenix]

This is a bit getting into extended territory. Price has breached below the TR. It has the potential to change the course of this bull market. Perhaps not now but the weakness is quite pronounced. Then again, the decisions are made at the extreme. We are at one and demand might start tiptoeing back.

Gringo

Also the level of the September high and the median of the Spring range.

Db

 

[Gring0]

Intraday traders better pay attention here. The 43 low has just behaved like a "live wire" as Db would put it.

 

[dbphoenix]

Intraday traders better pay attention here. The 43 low has just behaved like a "live wire" as Db would put it.

OTOH, we've had multiple SL/DB breaks over the past hour. We could be here for a while longer.

Db

 

[Gring0]

OTOH, we've had multiple SL/DB breaks over the past hour. We could be here for a while longer.

Db

Oh yes. It's never easy to tell.

 

[dbphoenix]

Oh yes. It's never easy to tell.

Though not especially difficult if one focuses on what The Money is looking at. The fact that we're sending so much time at this level is not accidental.

Db

PS: It's another hundred points to the bottom of the Spring range.

 

[Gring0]

Though not especially difficult if one focuses on what The Money is looking at. The fact that we're sending so much time at this level is not accidental.

Db

PS: It's another hundred points to the bottom of the Spring range.

I am beginning to appreciate danger points. Feeble bounce. Giving in to temptation to the downside. Very interesting.

 

[dbphoenix]

In 24 years, Wyckoff is the closest thing I've found to a money machine. Why so many non-professionals blow him off will always be a mystery to me.

Db

 

[Gring0]

In 24 years, Wyckoff is the closest thing I've found to a money machine. Why so many non-professionals blow him off will always be a mystery to me.

People seem to want reasons to justify behavior instead of stating it was a climax and a test. Sounds more intelligent if someone quotes the fed tightening as the reason for market weakness or a deteriorating situation in the middle east.

 

[dbphoenix]

People seem to want reasons to justify behavior instead of stating it was a climax and a test. Sounds more intelligent if someone quotes the fed tightening as the reason for market weakness or a deteriorating situation in the middle east.

Unfortunately, all that is hindsight. By the time one knows "why", the trade is long gone. The SLA entry on the short was last Thursday.

Db

 

[Gring0]

NQ hourly.