GregFokker Posted March 4, 2003 Report Share Posted March 4, 2003 The US Dollar Credit: http://quotes.ino.com Gold Credit: http://cdchart.innovative-software.com Link to comment Share on other sites More sharing options...
DrStool Posted March 4, 2003 Report Share Posted March 4, 2003 Symposium. I like it. Big words impress Doc. Just remember stoolfans. Short term TA matters only, on this thread. No chit chat. Chit chat goes on the sister thread on IDS. Longer term TA matters for discussion go on LOB or Dr. Bontchev's TA Forum. Good stool to all! Link to comment Share on other sites More sharing options...
blackbelt Posted March 4, 2003 Report Share Posted March 4, 2003 SPX - 60m SPX - 15m Link to comment Share on other sites More sharing options...
blackbelt Posted March 4, 2003 Report Share Posted March 4, 2003 NDX - 60m NDX - 15m Link to comment Share on other sites More sharing options...
Guest Posted March 4, 2003 Report Share Posted March 4, 2003 Stoolposium? :grin: Regards, Vesselin Link to comment Share on other sites More sharing options...
Guest Posted March 4, 2003 Report Share Posted March 4, 2003 Plonk! Regards, Vesselin Link to comment Share on other sites More sharing options...
Contrarian Posted March 4, 2003 Report Share Posted March 4, 2003 in bounce territory - but can continue to bleed projecting +/- .15pts per hour for 10 hours on HOURLY SPY data: my ST chart and my IT Attractor For those unfamiliar with my charts, an explanation can be found here. It focuses on daily data but is applicable to hourly by substituting hours for days in the trends, moving averages, lookback periods, slopes, etc Link to comment Share on other sites More sharing options...
Stutz Posted March 4, 2003 Report Share Posted March 4, 2003 BB Yesterday you had support on the NAS at 1324.67. Price approached that level at 1324.98, bounced slightly, penetrated by about .25, bounced slightly, and then penetrated convincingly. But by that time you'd left. My question is how do YOU judge convincing penetration, or a negating bounce. This morning you've got SPX support at 831.48 and as I began typing this, it was within a half point. Do you use a percentage to judge what's convincing? I hope you can find some quiet time today to respond. Link to comment Share on other sites More sharing options...
blackbelt Posted March 4, 2003 Report Share Posted March 4, 2003 CSC - D Potential "Bullish Gartley" under development. If the stocks manage to stick below the pivot point (horizontal line) it should target the Fib cluster area Link to comment Share on other sites More sharing options...
blackbelt Posted March 4, 2003 Report Share Posted March 4, 2003 Stutz, The levels I calculate on the chart are reference points for me. Not something I will act immediately upon they are hit. Since most of these levels are based on Fib ratios, most of the traders are using them. So I need to know what "others" are seeing. To quote a very good trader: "We are in the business of trading traders". We need to know what others are seeing and know what they most probably do. Personally, I look at these levels as points where others either will take profits or establish positions. I'll try to either buy or sell depending on my plan for the day. Whether one level will succeed on containing the price or not, has to do with where exactly we are within the cycles. If I know that the one day is nearing a bottom and the price is at a Fib level, I would expect to see holding the price only temporarily, if the 8 day is down. If the 8 day (that's just an example) is up, and the 1 bottoming on a Fib level I will be looking for sideways action to indicate accumulation and then higher high (intraday) to indicate that the level provided support and then I buy. Hope that answered your question.. Link to comment Share on other sites More sharing options...
blackbelt Posted March 4, 2003 Report Share Posted March 4, 2003 LEN - D Today in the news... Potential double "Bullish Gartley" forming... the horizontal brown lines indicate the pivots for each Gartley. Trade below the top horizontal line targes the top cluster and trade below the bottom horizontal line targets the lower cluster **This is not recommendation to buy or sell...** Link to comment Share on other sites More sharing options...
Stutz Posted March 4, 2003 Report Share Posted March 4, 2003 BB Thank you for taking the time to respond. No, you didn't entirely answer my question, but then I'd be surprised if the nuance of your trading could be conveyed in a paragraph. But perhaps one follow-up question may clarify. You said, "If the 8 day (that's just an example) is up, and the 1 bottoming on a Fib level I will be looking for sideways action to indicate accumulation and then higher high (intraday) to indicate that the level provided support and then I buy." My question goes to how you measure, calculate, decide how much "sideways action" constitute a "buy." Link to comment Share on other sites More sharing options...
blackbelt Posted March 4, 2003 Report Share Posted March 4, 2003 My question goes to how you measure, calculate, decide how much "sideways action" constitute a "buy." When the market is moving in one direction and then pauses (sideways action), it's up to me to decide what the next "probable" move will be. I look for patterns (consolidations, flags etc), check the cyclicality (where are within short-term and intermediate term cycles) and then I look for breath. Measuring buying and selling is something that the chart can show you if you want to see it. I try to avoid buying at the bottom or sell at the top. That's risky. Sometimes I'm lucky and other time I'm not and lose money. The market has a rythm that when I'm in sync I can listen to. The rythm of the market is "thrust", "consolidation", "thrust", "consolidation" and so on.... After the "consolidation", I expect a "thrust". I take the trade on the direction of the "thrust" and I put a stop. If the market decides to change the rythm, I have to take the stop, sit on the sidelines and wait for the next consolidation. AFter that I take the next "thurst" in the direction of the market. The moment you stop and analyze what "should" be happening, instead of what "is" happening, is the moment you have to hand your money to the next trader Link to comment Share on other sites More sharing options...
Slothrop Posted March 4, 2003 Report Share Posted March 4, 2003 Difference in today's gold chart vs. the last few weeks: it's a steady, slow-paced rise. Don't see a single spike up or down -- very unlike recent trading action in the metal. Link to comment Share on other sites More sharing options...
FeedFool Posted March 4, 2003 Report Share Posted March 4, 2003 Busted Link to comment Share on other sites More sharing options...
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