dc2000
Veteren member
- Messages
- 4,766
- Likes
- 129
my appologies the post should have read 5523 Im going to have to be more diligent in my postings
my appologies the post should have read 5523 Im going to have to be more diligent in my postings
Please do not apologize I took it as typed and waited for a pull back even if it
came on Monday, so far it has proved to be a good call. ( I think 5415/25 is a significant support area)
For me anyway a fortunate (Freudian?) slip/typo.
dc2000
Veteren member
- Messages
- 4,766
- Likes
- 129
😆that reminds me I was asked recently why I dont use stops my answer the market would run out of points before I run out of money
cheesy I know but the guy was an old IFA from the 80s
in reality the OTM options would kick in
DaddyJohn
Experienced member
- Messages
- 1,375
- Likes
- 9
well the reality for me is that I used such wide stops (or no stops) in futures
and I got caught wrong, then I would be living out my old age as a very sad and lonely man whilst my wife and kids took the house to ensure I didnt lose that as well.😏
It's too close to call. Yesterday Intel reduced Q4 revenue estimates based on lower sales in the last two weeks, but equally black friday, the day after thanksgiving was meant to be very busy. I would probably side with Intel. I think the market will ignore the retail sales number anyway, unless it is horrendous. If it is compared to figures from a year ago they should be better.
DJ and DC
Am trying to understand the Taylor Trading for swing trading ( reading Taylor's book - turgid writing! and also Linda Rashcke)
I have last Friday as a Buy Day
Yesterday as a zigzag day ( sell day) and therefore today as either another zigzag or a sell short day
Is that correct? I may have it totally wrong and if so apologies
Fletchie
Am trying to understand the Taylor Trading for swing trading ( reading Taylor's book - turgid writing! and also Linda Rashcke)
I have last Friday as a Buy Day
Yesterday as a zigzag day ( sell day) and therefore today as either another zigzag or a sell short day
Is that correct? I may have it totally wrong and if so apologies
Fletchie
Mornington Crescent
Experienced member
- Messages
- 1,500
- Likes
- 16
another doji day in prospect ?
Hey MC. What do you think a doji will tell us on the current one day setup?
Mornington Crescent
Experienced member
- Messages
- 1,500
- Likes
- 16
perhaps we ought to wait and see if we get a true doji
but normally in a downtrend its a holding pattern only
before the next move down
remember it follows what looks like a bearish engulfing
It is amazing how many times the US market reverses around the 3pm to 3:10pm time slot. But it does help when Mrs Merkel pops up and says at 3:23pm that she doesn't want to raise the debt ceiling, and on cue the market falls off a cliff. It is amazing how the Disney Lemmings movie mirrors the stock market, although I think Disney faked their bit.
Mornington Crescent
Experienced member
- Messages
- 1,500
- Likes
- 16
if you look at S&P (5min) cash you may find there was an island reversal
they wanted to shoot for and close
Sidekicker
Well-known member
- Messages
- 407
- Likes
- 11
got any stats?
Seems a bit like the FTSE 10am reversal thing but it doesn't always happen.
Mornington Crescent
Experienced member
- Messages
- 1,500
- Likes
- 16
DaddyJohn
Experienced member
- Messages
- 1,375
- Likes
- 9
no need to apologise Fletchie, I still get confused.. and even when I am right I dont always make the right judgements..
I think DC needs to clear this up as I am a tad unsure myself this week.
My take is that if you look at Linda;s 5 day cycle, we are coming into the end part of the pattern. So we just had a new buy day that started last night and we got the double low this morning which is what you should look for.. so tomorrow should be a Z day and Thursday a Short Sell day... so higher highs tomorrow.
DC... please critique this as I dont want to mislead Fletchie
as a suggestion DC it would be very, very useful if as the resident guru on Taylor you might give us a viewpoint at the beginning of the week as to the pattern you foresee... so Linda has four patterns in her paper 1) 4 day normal cycle 2) 5 day normal cycle 3) 5 day uptrend and 4) 4 day downtrend...
I try and decide every week which one we could be looking at.. but dont always have the confidence to trade it, as this is new to me too and we are talking real money here.. having a second opinion from which we could compare our own conclusions would be a very valuable learning process..
Is this something you would be prepared to do ? and I would post my levels as I calculate them including the market profile value areas.:smart:
