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so gonna look at this through the lens of the TRIN which is .98, i guess you'd have to have bullish bias if you wanted to follow that indicator. giving it a shot all else being equal...

http://thepatternsite.com/cup.html

im still holding this is a cup and handle until proven otherwise. altho spygrain has pretty much laid the stop ...https://www.tradingview.com/x/JVkL6CRy/

nice work

looks like a lot of eager beavers (myself included) got stopped out on that breakout

Probably the most expensive penny you’ve ever spent

Haha f this mkt

if this rallies i think 50 is a tgt and then reassess.

cautiously bullish...feeling cup and handle to me... https://www.tradingview.com/x/hVhWySjW/

someone posted here the other night a channel, and the bottom of it is 1500 spx. could totally see that if being fair. fundamentals are absolutely going to shit out soon. weekly jobs numbers are going t keep getting slammed. major and mid sized companies alike without the backstop of the small...

a clear, decisive b/o. perhaps it's not classical technical analysis but it's certainly a good reminder to me on keeping a reality check on where we are (or actually where we are not) at the moment

1: it's a neckline 2: it's resistance until proven otherwise?

need a decisive b/o bulls

uh oh....:confused: https://www.tradingview.com/x/SasS1hfE/

I’ll have to check that out. Can’t throw an hour at it right now. If I have any idea though as to his thought process, the trend traders also made their money by bet size optimization.

Btw you linked to farnam Street in another section of this site. Thanks for that. Have been reading it the last few days.

Patterns, fibs and pyramiding is pretty much my toolkit.

Basically. Especially doing what you’re trying to do (which I think I may do too), you need the precision of a surgeon. Pyramiding helps offset that risk.

Imo, pyramiding is the only way to do it. You reward winners and don’t add to losers. Realistically you cannot trade 15 contracts on $4,500 unless you’re slowly building a position upon more and more success. Then you obviously need to know your target and keep your stops in place.

Although I don’t system trade, because i do not code and thus had no way to monitor my progress, I did appreciate the lesson in pyramiding I got from it. Essentially what Livermore did 90 years ago.