Search results

No positive TICKs yet, so I won't be buying until that happens.

Agreed, I haven't had anything that gave me a reason to get in.

WOWEE!

Amazing, I almost owed Tortoise a candy bar there. Saved by the bell and not much else! The high TICK of the day was just after noon, and we ripped huge after that, so I think 1400 is a reality tomorrow.

I've done this with Josh before, but I'll bet you a Snickers bar NO WAY. 1385 or so would be my target, but 1400 is a long shot. Actually this FOMC seems to be a bit of a dud so far.

New high price, new high TICK, let's see how this plays out...

Post of the year! ;)

Yeah, I should clarify. It's a CLOSE below. I've set up my chart so that if a 1 period SMA prints a value below -600 (essentially a close), I have it fire off a red dot. Now I just look for either a red dot or a green dot and that gives me my bias. Speaking of which, we did just have a close...

No problem gents. Please bear in mind that my approach is always to wait for the trend to ID itself first, and then buy / sell the first pullback. My rules regarding this stuff is based off of continuing to buy pullbacks in a trend until that trend eventually fails. There might be other ways...

Ammo / Josh, That's correct. Based on stats, it's safer to assume that we're gonna need to print higher than 1012 before we see more selling. Either that or a defined close below-600. Anything in between (divergence, whatever) can be viewed as fuel for another run up. This behavior can...

What's up everyone? no -600 TICKs to be seen. There will not be a direction change IMO until we get one. If price makes new highs, and does not make a new high TICK of the day, it is a statistical assumption that price will keep making new highs until a new high TICK gets printed.

No -600 TICKs since just before 10 PST, looks like this thing has one place to go :)

Thanks. I got chopped up a tad this morning (a -1 and a -2), and then walked away for a bit to refocus. The slow market is pretty grueling!

Got an early fill at 65.50's.

Okay let's see what we get here.

Bidding 62.50's, but not sure if I'll get filled.

C'mon guys, there really is only one option. NEW HIGHS :) This thing should have sold off at that first 50% pullback after the push down. The fact that we didn't leads me to believe that the long trend is back already. I'm still looking for 70's, most likely overnight on Sunday.

Yeah I didn't mean to sound so abrupt, maybe I was reliving the emotional pain that strategy brought me ;)

-600 TICKs but price just stalling. If we get a close above 600, I anticipating I should be able to squeeze another 3 points out of this to the upside.

Absolutely and positively not. I tried this back in the day and got pummeled repeatedly. Maybe there is a strategy there, but I couldn't find it, certainly not with what I am willing to risk per trade. Once I found how reliable it was to use the +/- 600 levels to judge sentiment, I gave up on...