Search results

Niko, I think the failure of hinge breakout at around 80 was the correct point to focus on. Using the straight line method identified in this thread that would have been an easy short after a retracement. What needs to be identified is the reason short wasn't initiated around 76...

Hinges and women. Gringo

Somehow, your words I find to be perversely satisfying. :) Gringo

Does anyone see a blooming hinge in NQ 1min? Gringo

Hello Tupapa, It's good to hear from you as well comrade. There seems to have been a misunderstanding regarding SLV entry. I haven't initiated any shorts or longs in silver. It's gaps and price action was not giving me much comfort so I stayed away from it. At times the mind isn't...

You're right. The longer term bias is up. Most waves have been moving 3-5 points during the up moves. The current up move has already achieved most of that move and has an overbought condition on top of that. Ideally, one would wait for a drop and then re-join in the direction of the major...

The materials sector has breached the overbought line a second time. It doesn't take a genious to see what transpired after the first breach. So far price is hanging in there and pushing upwards. The DL is slightly breached and price could turn down here prompting an entry for the daring. I...

I would prefer to short after the new DL break and retracement. There are many ways to short and most of what you have written is valid as far as shorting is concerned. What one needs is an understanding of one's personality, risk tolerance, and testing to know which option is better. Gringo

You're doing a wonderful job Niko. Considering the market might start correcting I might do some analysis for these sectors. The gold and silver with the indexes are so much more exciting, don't you think? :p

If a correction is in the books, it won't to be a one night stand. And if it is a one night stand, then it won't be a correction. Gringo

Q's couldn't keep their new high and price has dropped below. This is not a full fledged sign of weakness but is a hint to stay cautious, as there wasn't enough strength to push price above. It may be temporary, but the market being closer to overbought territory (see weekly chart a few days...

Nice work Niko! At last some light at the end of the tunnel. Did you exit and reverse at the same time, when you went short the second time? With few contracts it's quite possible I guess. One needs to have the alertness to do it though. As long as you are reading price better things should...

Here's the same chart with hourly bar intervals. It shows the price movement is independent of how we choose to display it. In this case both the end of day trader and the one using hourly bar intervals both stay long. Of course the shorter bar interval trader gets to exit and enter earlier...

QQQ has made a new high. We also have a new demand line in place. So what's the verdict? The simple verdict is that price is moving up. It hasn't given a reason to panic and exit longs. There is of course need for staying alert as always but is the nature of the business. Until the price...

A few dozen? I have trouble believing that. As for the longer term, it seems I am the only one looking at it. When I post something there are hardly 5-10 views and half of them might be me just visiting my own wonderful post! :). Maybe I am losing my story telling skills. The better I...

GLD is holding fine for now. There wasn't a major selloff and now a demand line is also visible. Lets see if demand comes in to lift the price. I have drawn a range where there's a potential for some resistance to show up. Resistance is not a certainty, and it's the action of price itself...

What do you trade? Stocks or futures? Gringo

People don't knowingly buy at the top. They get excited to see a rising market and fear being left behind. These are also the people who have been too conservative with their approach and when everyone around them has made money and is talking about it constantly, they can't take it any more...

Gold is showing strength here. After retracing a bit it has pushed higher. The supply wasn't strong enough to do much and demand has overwhelmed supply once again. So now that demand is coming out of hiding those sitting on cash may do the same. Gringo

RN, This was more for fun than insulting someone. It did take some creativity though, and what better place to display creativity than amongst friends. Then again it cannot be denied there was a bit of less than sweetness to it. Perhaps the trading gods have been too kind. Gringo...