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You need experience. you need to learn what matters, and what happens when what matters fails. Learn about backtests, learn about confluence, learn about technical damage and backtest shoulder creation. In the meantime something very simple. A higher low concept.... <continues...>

A comment on RSP, yes is equal weighted vs SPY but check the management fee of RSP (.40%) vs SPY (.09%, the lowest in the business).

That opening volatility you speak of, that is precisely what defines the one strong move that ES tends to develop in the morning session, that is the easiest trade of the day in ES everything else is usually not worth it. Just keep an open mind that it could come in the form of a complete V...

First and foremost I am a daytrader but if I'm trading forex or a future, sometimes I become a short term swing trader, I do not use indicators, they mean nothing to me, there is no better indicator to me than price, volume and lines, don't mean to disrespect those that do, I'm sure there are...

The SPX has slightly different price action at the trendline, I just get better reads from broken trendlines than unbroken ones so chose SPY in this case. Nevertheless it's still the same, a bear flag, that also happens to be the right wing of an incomplete head and shoulders, the consolidation...

Waking up early to do your homework based on new market data is a good step forward. However, a red overnight does not necessarily mean more downside, same with gap ups. You must study the relation of price with support and resistance areas, at the same time, you must learn to recognize when...

SPY's inability to hop back into the uptrend line is a concern for the bulls. On the other hand, if price is able to get back on track above it and regain that line as support, bears might need to pause their wishes until such action is no more. I've also drawn the uptrend line breakout...

Dow bearish wedge analysis. Bearish wedges can fail, just as they can fake down and then reverse back up. Bottomline is I hate to predict, I rather listen and react. I trade these wedges by drawing a horizontal line at the uptrendline breakout point, area I marked as red horizontal...

There are two ways to spot shoulders before the formation is complete, one is via parallel line copy paste projection the other is via broken trendlines that fail to breakout by not holding their backtest. What would happen if my dow red line failed its backtest correctly ? Then it would...

Something I'm watching on the Dow. Potential bearish seasonality is around the corner, it's not a sure bet, as nothing is, but it's something to pay attention, the whole sell in May and go away thing. However, when we combine that seasonal bias with price action, magic happens. I'm...

Not a fan of most horizontal levels, mostly diagonals. In any case I'm long AAPL from the 586.x area. However, I'm a short term trader.

Bearish seasonality is around the corner typically begins around april/may sometimes comes a little late; now with that said. During the last earnings, AAPL broke out of the uptrend channel and flew by nearly nonstop towards the sky. It now seems to be losing momentum and the top of the...

Not only is the time of the day important but also time of the night. There are several key tendencies if you willing to do the statistical work of going back one decade and gathering a strong sample.

Bob, Not a fan whatsoever of placing a short entry on a downtrendline or a downtrend channel resistance line that's testing itself a third time or more. Chances are it's a stop hunt waiting to happen. Let them hunt, when the hunt is obviously a fake breakout, aka head fake, now you may...

Shoulder confluence preventing price from filling the upside gap. Pressure is down and will continue down until that resistance can be decisively cleared. It looks like we are on our way now to completing the white head and shoulders and the battle for its neck will commence between bulls...

Agree, it is depressing, sometimes I feel like a parasite, I do no good to society except help with the money I make, when I share wealth with children hospitals and obviously when I pay taxes, not counting whatever is wasted by the gov. This is why I like to provide trading help at no cost...

Trick Question Are you short and will cover there ? Are you flat and will buy there? Are you short and will reverse long there?

Psychological deficiency from reacting and buying at a worse price than originally desired especially when right. You need to overcome that.

I trade the short term and not particularly involved in long term analysis as I trade size and that requires severe risk management via stop placement. As a trader I live in the 15/60min tf, with occasional quick studies of the daily. Not too worried about the long term direction, up down...

The ideal pull back, for me has a pre-requisite, a well established trend as I need some sense of security. Let's use an uptrend as example. Uptrends make higher highs and higher lows, therefore the closer we get to the last higher lower without breaching it, is imo the ideal pullback...