gruff Posted March 7, 2003 Report Share Posted March 7, 2003 Gotta leave in a few mins... but here's a TR trade setting up. NS 989.50 S=94 T=84 T2=78 Need 88.50 to break to confirm. Be back in 90mins or so. Link to comment Share on other sites More sharing options...
sniff Posted March 7, 2003 Report Share Posted March 7, 2003 closed all my struggling longs, todays scalps...... spx 829 just looks to tough. Got some shorts though...... we shall see..... Link to comment Share on other sites More sharing options...
Slothrop Posted March 7, 2003 Report Share Posted March 7, 2003 3-month low on XAU. It's heading for the 4-month old gap at 64, which will get filled. Link to comment Share on other sites More sharing options...
sniff Posted March 7, 2003 Report Share Posted March 7, 2003 I will play out the day.... 829 was tough so, kicked out the long for the day....... and put on the days short..... remember these were last nights set-ups...... will they work? beats me..... but have stops.. Link to comment Share on other sites More sharing options...
Slothrop Posted March 7, 2003 Report Share Posted March 7, 2003 That ABC up is nice and symmetrical on the intraday charts. Link to comment Share on other sites More sharing options...
sniff Posted March 7, 2003 Report Share Posted March 7, 2003 sloth, I don't know much about e wave, So, I will guess symetrical as indecisive, as in symetrical triangle? If you want it would be helpful to me if you add.... good, bad or whatever... I do understand fibs and that there is a relationship to ewaves. Link to comment Share on other sites More sharing options...
Slothrop Posted March 7, 2003 Report Share Posted March 7, 2003 The initial move up A is equal to the second move up C. In ewave theory, the corrective move is complete. Many times A does not equal C, but when it does the LIKELIHOOD of the move being completed increases. You can place a bit more confidence in it. Theoretically. Link to comment Share on other sites More sharing options...
gruff Posted March 7, 2003 Report Share Posted March 7, 2003 Ok I'm back. exiting 2nd c here at 79 on revised T2 (lower band come up slightly) T1 hit +5.5 T2 out +10.5 total +16pts Link to comment Share on other sites More sharing options...
sniff Posted March 7, 2003 Report Share Posted March 7, 2003 thank you sloth, that helps... I do some gartley stuff too! the ab=cd patterns ......The light should come on soon, I hope. Looking at the spx 5 min. 820 could be a stutter point.... it closes this mornings gap and also .500 retrace on todays leg up. I use the chart fib grid so the numbers are just estimates. I can never get exact anyway... So think of those points as narrow little bands with some variation Link to comment Share on other sites More sharing options...
gruff Posted March 7, 2003 Report Share Posted March 7, 2003 PM update NQ bbz 981.078 ~ 983.752 ES bbz 821.249 ~ 823.647 NQ desc 981.50 ES desc 819.25 NQ Clone chart with asc line from mornings low added... Link to comment Share on other sites More sharing options...
Slothrop Posted March 7, 2003 Report Share Posted March 7, 2003 Prechter, at his seminars, often talks about "the right look." At some point in your TA career, you start seeing it without having to analyze it. It's like Elway in the 4th quarter: you didn't need to know who he was throwing the ball to...just the fact that he was throwing was enough. Link to comment Share on other sites More sharing options...
sniff Posted March 7, 2003 Report Share Posted March 7, 2003 looks like some stuttering around 820, .... Does the ewaves have a target low short term? I am always digging around with something.... So, 813 could be another point.... This would be determined by a hugh amount of resistive volume going in the head of a 5 min. H&S (possible) pattern set-up. I do not see much upside potential here, unless some buy programs show up which is possible here.... I think Greg said feed net drain today????... I will go back and check.... Link to comment Share on other sites More sharing options...
Slothrop Posted March 7, 2003 Report Share Posted March 7, 2003 My ewave target for this move (I'm a position trader, not a daytrader -- goin' for week to week moves) is 780. One of Blackbelt's fib targets is 777. Link to comment Share on other sites More sharing options...
GregFokker Posted March 7, 2003 Report Share Posted March 7, 2003 Yes, 3B drained today. Yields still very low despite the fact that bonds are being sold to redeem it. Link to comment Share on other sites More sharing options...
FeedFool Posted March 7, 2003 Report Share Posted March 7, 2003 joke?? Link to comment Share on other sites More sharing options...
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