Vasco da Banana
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No reason to short it? That's usually a good cue to do exactly that. Dow back at 10k soon, then.
No reason to short it? That's usually a good cue to do exactly that. Dow back at 10k soon, then.
No reason to short it? That's usually a good cue to do exactly that. Dow back at 10k soon, then.
It could happen, anything is possible, but I see higher highs higher lows all the way from 6500ish up to now, nothing in the price action suggests this is a short at the moment.
Could all change of course, but nothing in the charts as yet suggests or even looks like a short imo.
The dips have been nothing but pullbacks to get back in long.
When I see price fail at resistance, and a lower high, I might change my mind, but the way I see it this is going higher, a lot higher before it goes lower.
We'll see.
:cheesy:
Vasco da Banana
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What about when the US runs out of pump-up money completely and runs over the fiscal cliff?
From a fundamental point of view thinking about the what ifs could lead to any possible number of probabilities.
The market has almost recovered the drop from the banking crisis, the financial sector is getting its act together, there has been a lot of clear out and its reflected in the market, its knocking on the door of its all time highs, its priced in a lot of the bad news which is why a lot of these figures are having no real negative effect.
Getting away from all of that though, why do people think this is a short from a technical point of view?
It would be interesting to see the psychology behind why people see this as a short from a technical perspective.
M
malaguti
M
malaguti
Absolutely. Its all there in front of us..
Vasco da Banana
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Lets all trade on what-ifs shall we
No, I'm sticking to what-abouts.
The markets are obviously trending, RSIs are above the bull line (my trending filter) and not too dissimilar to a few other January's
we all know there is some very heavy Wkly resistance levels not too far above - and if anywhere's a good shorting opportunity, its after the market hits those, likely in a wk or two the way it keeps on going up
but this is quite an easy one, just wait for price to hit the Wkly resistance levels and if / when the Wkly indis cross down - and the RSIs cross back under the bullline, only short then
and there should be at least a 500-1000pip fall
was also stopped out -200 but price was at fairly strong Daily resistance, so took a punt
should of traded it down and closed, but was complacent and lazy
who knew the market wanted to rally this January
glad to be out in the end,
best just to wait this one out until the Wkly indis confirm, and also look on the monthly
we all know there is some very heavy Wkly resistance levels not too far above - and if anywhere's a good shorting opportunity, its after the market hits those, likely in a wk or two the way it keeps on going up
but this is quite an easy one, just wait for price to hit the Wkly resistance levels and if / when the Wkly indis cross down - and the RSIs cross back under the bullline, only short then
and there should be at least a 500-1000pip fall
was also stopped out -200 but price was at fairly strong Daily resistance, so took a punt
should of traded it down and closed, but was complacent and lazy
who knew the market wanted to rally this January
glad to be out in the end,
best just to wait this one out until the Wkly indis confirm, and also look on the monthly
Funky Trader
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Best to ride what you see and what your indicators tell you. Who rode this afternoon's upleg from 13860's?
M
malaguti
It should be "ride what you see and NOT what your indicators tell you"
Funky Trader
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All depends how you have the indicators set up?
For instance, it would have been an obvious thing to get out of the up leg this afternoon when it had its spectacular plunge back to 13885 approx (from 13917 in very short time), but mine said no, stay put it's still likely to rise more... and it did, going to 13946. Without indicators, I and most people would have been panicked out of the trade?
For instance, it would have been an obvious thing to get out of the up leg this afternoon when it had its spectacular plunge back to 13885 approx (from 13917 in very short time), but mine said no, stay put it's still likely to rise more... and it did, going to 13946. Without indicators, I and most people would have been panicked out of the trade?
M
malaguti
Funky Trader
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I should also add it all depends on which time frame you're trading too. If you just watch the monthly, then today's affternoon plunge wasn't even registered. On a 1 minute or 2 minute chart...it was most definitely a plunge.
Vasco da Banana
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Trusting an indicator that much will eventually floor you (IMO).
Funky Trader
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They will potentially floor you in a choppy market, but in a trending one? Even in a choppy market it may just be a case of going to a shorter time-frame (if you MUST trade).
Most threads on here appear to dispel market and technical analysis as being that good (for a large number of people), judging by the numbers who short or go long at what prove to be the most ridiculous times (IG data etc).
I'm always surprised how very rich, presumably very intelligent guys make money from the markets using the bog standard indicator settings and trust them implicitly. 12-26-9 MACD anyone?
Most threads on here appear to dispel market and technical analysis as being that good (for a large number of people), judging by the numbers who short or go long at what prove to be the most ridiculous times (IG data etc).
I'm always surprised how very rich, presumably very intelligent guys make money from the markets using the bog standard indicator settings and trust them implicitly. 12-26-9 MACD anyone?
Longs exited on channel break, and a single entry today, a small short at 13950 cash which finally delivered.
Still no support levels taken out, suggests another higher low to get back long will see if support holds up at 13850, if not will look for another lower high and short again.
We'll see.
:cheesy:
Still no support levels taken out, suggests another higher low to get back long will see if support holds up at 13850, if not will look for another lower high and short again.
We'll see.
:cheesy:
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CalvinLe55
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Won't happen a minor correction will hit the market!
Looking towards the market making higher highs, but some correction is starting to show up. 3% - 4% declining index prices could occur in the market in early Feburary.
Won't happen a minor correction will hit the market!
Looking towards the market making higher highs, but some correction is starting to show up. 3% - 4% declining index prices could occur in the market in early Feburary.
Well I wouldn't say wont happen, there was a lot of volume behind yesterdays move and cash still closed above 13900. Will see where we go after open. I just closed out the overnight short, I left it with a 13850 tgt, which hasnt hit, so I am flat at the moment. Will wait to see what happens at the open.
There looks like a nice channel in the 60 min which will give a sizable move when it breaks will look to play the break out.
:cheesy:
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