I have found the Holy Grail indicator for the Dow Jones - 100% right so far

[batsonar]

Closing price of the Dow Jones - Monday the 3rd May 2021.

 

[batsonar]

 

[postman]

Are you seeing the topping action forming?

 

[batsonar]

Are you seeing the topping action forming?

You could be right. On my 3 month (1 day bar) chart there is a "Pivot Point" level at 34,102 on the DOW. This could be a support or resistance level depending on what side the DOW closes in the next few days.

 

[batsonar]

Hey "postman" I'm probably being very controversial here but I have been looking at the Martingale system (negative progression system). As you are probably aware, its all about increasing the players bet after they have generated a loss. Don't worry I'm trying the system out on a very small scale starting with a 0.005 contract on Trading212. That bet will be increased to a 0.010 contract on a losing trade. Then double up on every losing trade. My buy and sell entry points will be using my "Holy Grail" indicators. If I get a losing trade then I will double up on the next signal. I have to be very strict how I work this. Got a £1,000 spare money to play with.

 

[BigDeal]

Martingale seems so easy and 'logical' when you first look at it, but always ends in tears; your risk ratio becomes dreadful after a few losers and you can end up staking a huge sum for a very small return. In the nicest possible way I hope it goes badly in your trial...

 

[postman]

Hey "postman" I'm probably being very controversial here but I have been looking at the Martingale system (negative progression system). As you are probably aware, its all about increasing the players bet after they have generated a loss. Don't worry I'm trying the system out on a very small scale starting with a 0.005 contract on Trading212. That bet will be increased to a 0.010 contract on a losing trade. Then double up on every losing trade. My buy and sell entry points will be using my "Holy Grail" indicators. If I get a losing trade then I will double up on the next signal. I have to be very strict how I work this. Got a £1,000 spare money to play with.

For a martingale system ... always. 😂

 

[batsonar]

Martingale seems so easy and 'logical' when you first look at it, but always ends in tears; your risk ratio becomes dreadful after a few losers and you can end up staking a huge sum for a very small return. In the nicest possible way I hope it goes badly in your trial...

Yes your are probably right. I like to experiment with all forms of trading controversial or not. I need to find out for myself. No harm trying the Martingale system on a small scale. If I find it doesn't work then I will try something else.

 

[postman]

Yes your are probably right. I like to experiment with all forms of trading controversial or not. I need to find out for myself. No harm trying the Martingale system on a small scale. If I find it doesn't work then I will try something else.

I think history has proven countless times it does not work.

 

[batsonar]

Closing price of the Dow Jones - Tuesday the 4th May 2021.

 

[batsonar]

Advance/Decline Line calculator - Histogram reading is 16.29 (in the GREEN). There is NO "Sell" (short) signal until the Histogram turns negative (in the RED).

 

[batsonar]

Closing price of the Dow Jones - Wednesday the 5th May 2021.

On my 3 month (1 day bar) chart there is a "Pivot Point" support level at 34,102 on the DOW.

 

[batsonar]

 

[batsonar]

 

[batsonar]

Closing price of the Dow Jones - Thursday the 6th May 2021.

 

[batsonar]

Advance/Decline Line ccalculator - Histogram is reading 31.54 (in the GREEN). At this level in my experience there is a good chance the DOW could pull back in the short term from its present level of 34,548. There is NO "Sell" signal until the Histogram turns negative (in the RED).

 

[batsonar]

Closing price of the Dow Jones - Friday the 7th May 2021.

On my 3 month (1 day bar) chart there is a "Pivot Point" resistance level at 34,815 on the DOW.

 

[batsonar]

Advance/Decline Line calculator - There is NO "Sell" (short) signal until the Histogram turns negative (in the RED).

 

[batsonar]

 

[batsonar]

Closing price of the Dow Jones - 10th May 2021.

The DOW reached an intraday all time high of 35,091 but somehow managed to lose all its gains by the end of the trading day and ended up in negative territory.