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Nothing wrong with the stock. Might be a little something wrong with the r/r at this level. Theoretically you would have to place your stop at 87.00. Edit: well maybe not. The horizontal projection is at 120, so actually it looks pretty damn good.

The stockmarket has always been this way. Buying high, selling higher unitl there are only a few left holding the bag. An instrument's value is whatever it is selling for at a moment in time where there is a willing buyer. So why is it now all of a sudden a big problem?

It's not just a double top, it is a potential catapult. A catapult is a triple top immediately followed by a double top with higher lows. The chart is current.

Here is one for you swing traders. We have a stock about to make a move. Whichever way it goes it will most likely be a pretty strong move. Stock is USB. The stock is sitting at 33.30. At 36 it becomes a bullish catapult. At 31 it becomes a failed bullish catapult. If I had to guess...

One other comment. I showed where my stops would be on akam. Normally what I really do is consider what is happening. If a false sell signal occurs during an uptrend I will keep moving my stop up to 1 box below the last 0 column. This is because I am trading with the trend. I will try to...

Here is the AKAM chart with stops and entries. It is up to you to decide each time whether the risk/reward ratio and projected targets are within your money management strategy.

in the above the "last let" was supposed to be the last leg

You always have to anticipate. As soon as I saw the last let of a potential catapult forming I placed a limit order to buy if the catapult was confirmed, and to short ONLY IF the next 0 column would exceed the previous 0 column.

Well good for you. Wyckoff will definitely help you. Good Luck in the future and thank you for the compliment.

All I can say is you sound frustrated and bitter. Sorry for that. It's not an excuse, it's reality. Many people want a free ride without doing any work. Why would people that DID the work want to just hand it over to someone for nothing? Is there some kind of obligation to teach the...

There is absolutely no reason that I can think of for a successful trader to make FREE live calls with the possible exception of teaching a trading method. Most successful traders look at it like "hey, I paid my dues to learn, you pay yours." I can't really blame anyone for that attitude.

Since we were talking about failed signals I wanted to show one that I traded today on NQ. It was a failed catapult and it was good for 5 points. (actually good for more, but I wussed out after 5. This was on the NQ .5 chart.

What a bunch of propaganda. The guy created many enemies in his quest from attorney general to the governorship. To blame the Bush administration for his demise is ludicrous. He is responsible for his own actions, no one else.

Great explanation staffpro. AKAM provides us with many examples including one currently. Edit: I do want to mention that it is not only a shakeout formation, it is a shake-in formation. It is basically a buy or sell signal that makes you think the trend is either going to continue, or...

A synopsis of trading pnf is here. http://www.clalloys.com/pnf%20charting.pdf

Best trading blotter EVER posted!!!!

What I can't figure out is where are the millions of followers of riskfreetrading? They haven't even looked at this thread. :D

My charts will tell me when to reverse. I use p&f charts. They offer quick recognition of changes in the market. PA can be a number of different things. The key is to find something that works. I don't go against the trend until there is a major turning point. I try for the meat of the...

I think the key point is that successful traders are under no obligation to teach you to trade. Some are nice enough to post charts and help you along, some give you clues, the rest is up to you.

Stealthtrader posted in real time in Mandelbrot's thread. I have posted real time in the P&F thread. Most of the time only the people THAT DON'T TRADE can take the time to post in real time.