robster970
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I think this is going lower today amigo.
S&P 500 & other indexes - intraday. Plus chat
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I think this is going lower today amigo.
GrandSupercycle
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SPX bearish daily and weekly charts still dominate.
splashy
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the best and worst of splashy's 1-2-3.
I put up some charts a couple of weeks ago showing how i trade ftse/dax but the charts were all profitable so i had it in mind to show a duffer when one came up just to show the dark side, as it were. Then, yesterday came upon us so it has just occurred to me that it would be neat just to show what can happen, the best and the worst.
The dax chart is from yesterday and shows almost the ideal day. A steady strend - this could have done with being just a bit steeper early on so that it enables you to get one order out of the way before taking on another, or at least manage the risk as mentioned below. Four trades on Dax, 3 of them takeable. I apologise that the lines aren't in but i took them out this morning to make todays chart up.
Ftse's chart for yesterday was obviously simlar and also had 3 takeable trades out of 4 (but not the same one was invalidated). 8 completed patterns all together, 6 valid trades, 130 odd pips. Some of the currency pairs showed the same steady trend. Days like this happen around once per month and it can be as easy as picking money up off the floor. You just have to consider your levels of risk appetite/money management when holding multiple trades at any one time.
The ftse chart is from thurs 19th and shows the flip side. I think it was Robster that mentioned drawdowns - i haven't really had what i could call a bad sequence but this is what could potentially happen if money mangement is a bit iffy...
A bad day is not when i get no trades - a bad day is when the trades i take go bad. Trade A i took because it triggered on the happy side of the resistance line which i think was the days high. Trade B came very soon afterwards and looked a bit stunted, even had very similar pts 2 & 4 to pattern A. I know i said i trade the system with no discretion but i had forgotten about this bit so apologies there...i do trade with discretion when money/risk management comes into play. Trade B i took but only after it had retraced a few pips. This made the r/r for that trade move from 1:1 to 3:1 and helped me stick within my risk rules. If there had been a 3rd signal, i couldn't have taken it unless pattern A or B could have been moved to b/e. This can quite often happen considering the ftse/dax correlation so thats when you really need the price to be moving along so that risk can be managed, as per yesterday. Both trades were sent the wrong way by the news at 1.30, hence the danger of holding multiple positions without discretion and without 'doffing ones cap' to Mr Risk.
I put up some charts a couple of weeks ago showing how i trade ftse/dax but the charts were all profitable so i had it in mind to show a duffer when one came up just to show the dark side, as it were. Then, yesterday came upon us so it has just occurred to me that it would be neat just to show what can happen, the best and the worst.
The dax chart is from yesterday and shows almost the ideal day. A steady strend - this could have done with being just a bit steeper early on so that it enables you to get one order out of the way before taking on another, or at least manage the risk as mentioned below. Four trades on Dax, 3 of them takeable. I apologise that the lines aren't in but i took them out this morning to make todays chart up.
Ftse's chart for yesterday was obviously simlar and also had 3 takeable trades out of 4 (but not the same one was invalidated). 8 completed patterns all together, 6 valid trades, 130 odd pips. Some of the currency pairs showed the same steady trend. Days like this happen around once per month and it can be as easy as picking money up off the floor. You just have to consider your levels of risk appetite/money management when holding multiple trades at any one time.
The ftse chart is from thurs 19th and shows the flip side. I think it was Robster that mentioned drawdowns - i haven't really had what i could call a bad sequence but this is what could potentially happen if money mangement is a bit iffy...
A bad day is not when i get no trades - a bad day is when the trades i take go bad. Trade A i took because it triggered on the happy side of the resistance line which i think was the days high. Trade B came very soon afterwards and looked a bit stunted, even had very similar pts 2 & 4 to pattern A. I know i said i trade the system with no discretion but i had forgotten about this bit so apologies there...i do trade with discretion when money/risk management comes into play. Trade B i took but only after it had retraced a few pips. This made the r/r for that trade move from 1:1 to 3:1 and helped me stick within my risk rules. If there had been a 3rd signal, i couldn't have taken it unless pattern A or B could have been moved to b/e. This can quite often happen considering the ftse/dax correlation so thats when you really need the price to be moving along so that risk can be managed, as per yesterday. Both trades were sent the wrong way by the news at 1.30, hence the danger of holding multiple positions without discretion and without 'doffing ones cap' to Mr Risk.
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robster970
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JT_MOT
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Well in hindight I got out way too early.. but I reached the target I had set so I'm still happy. Had I been able to watch a live chart I would have loved that bearish candle that touched the 1346 level.
Anyway, lets see if there is some profit taking into the close.
Anyway, lets see if there is some profit taking into the close.
JT_MOT
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splashy
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Just thought...once again monday is a stonker and once again tuesday a damp squib - not a single trade today.
hmmm...
Ritika Sharma
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Standard & Poor’s 500 fell 0.9% or 12.21 points at 1338.31.
piggybridges
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DionysusToast
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OK - so the Sky is NOT falling in....
Here we have a potential balance area within a balance area. (daily chart)
The longer term balance area we have been in since May suggests a continued moved down below 1300.
The shorter term balance area calls for a move up from a point below 1330 – somewhere that is considered
cheap, relatively speaking. Plenty of people are short from the last 3 days so.
I’ll be looking for longs from yesterdays close, yesterdays low, overnight low but ready to jump on board a short squeeze.
Really not looking for shorts today, although we are above yesterdays close so an initial down move to shake out the overnight longs isn’t a bad thing.
Will be looking @ potential shorts from yesterdays high for a smaller move.
Longs – 1329.75, 1326, 1323.75, 1321.25
Shorts – 1346.50
Today, I am going to attempt to stick to this. I keep shorting into my long areas and going long into my short areas.
Here we have a potential balance area within a balance area. (daily chart)
The longer term balance area we have been in since May suggests a continued moved down below 1300.
The shorter term balance area calls for a move up from a point below 1330 – somewhere that is considered
cheap, relatively speaking. Plenty of people are short from the last 3 days so.
I’ll be looking for longs from yesterdays close, yesterdays low, overnight low but ready to jump on board a short squeeze.
Really not looking for shorts today, although we are above yesterdays close so an initial down move to shake out the overnight longs isn’t a bad thing.
Will be looking @ potential shorts from yesterdays high for a smaller move.
Longs – 1329.75, 1326, 1323.75, 1321.25
Shorts – 1346.50
Today, I am going to attempt to stick to this. I keep shorting into my long areas and going long into my short areas.
robster970
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Failed to get filled at 38.75 - didn't want to chase.....
rathcoole_exile
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OK - so the Sky is NOT falling in....
2 panadon please....
DionysusToast
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Ok - short - not @ my short area but chasing the move down into potential longs way below.....
This is OK - not going short into a potential long 4 ticks away or anything dumb like that....
This is OK - not going short into a potential long 4 ticks away or anything dumb like that....
rathcoole_exile
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1340 is weekly Camarilla level 4,
and, by no strange coincidence, also Resistance on the Ichimoku 1H Cloud
So I'm short from here until I see credible evidence otherwise
and, by no strange coincidence, also Resistance on the Ichimoku 1H Cloud
So I'm short from here until I see credible evidence otherwise
robster970
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News is out at 15:00 - careful now DT
DionysusToast
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got some breathing room into the news, with 3 contracts already out, so held it...
Short 1334.25
3 out @ 1333
1 out @ 1332.25
1 holding for a move back to the ONL of 1321.25 (but will be out a few pts above). Obviously will be watching 1329.75 for a bounce up & exit...
Short 1334.25
3 out @ 1333
1 out @ 1332.25
1 holding for a move back to the ONL of 1321.25 (but will be out a few pts above). Obviously will be watching 1329.75 for a bounce up & exit...
