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Double tops/bottoms are by far the best (r/r) and simplest, not necessarily easiest, entry signals. When you backtest these signals you will be able to workout an average % stop required, which in many cases is a much smaller risk considering the potential reward (next obvious level of...

I would never say this is THE top, but for now this does look like it's going to pullback at least.

Looks like the top is in, good luck!

“Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception”. — George Soros Wake me up when it comes crashing down.

I use a different approach. An intraday trend can end at any moment, if I see price bounce off an upper level, I would then look to sell there. Selling close to the resistance level ensures a small stop in relation to potential target which I always look at conservatively.

I have no idea. Whatever is meant to be, will be, we can only be either on the right side or the wrong side. I just know if I'm wrong, then I'm out! If it looks like I'm right ill hold on till next barrier.

Who else thinks indexes are gonna tank here? Certainly reward looks way higher than risk (stop).

For sure.

I did say in one of the past posts that I sell likely resistance and buy support levels. But hey, you don't have to credit me with any call validity. I don't have anything to sell ;)

Did you not see the blue 50% range I posted before the fact? What happened after? Almost 0 pain bounce off that level. Nothing is guaranteed when it comes to trading. I'm simply saying that taking levels from the bigger charts makes total sense for retail traders as we are pretty clueless in...

I'm being sarcastic. I am a proponent of using past reaction levels as a guide of when to open up a shorter time frame chart and seeing how price reacts to these levels. It's all about skills. There are quite a few on this board that discount TA completely, saying that past price action has no...

And again, purely coincidental up move! Same levels on bigger chart

Reaction straight off the 50% of the range. Experience and knowledge make up the edge, the rest is risk management.

So some here would say this is just a coincidental move, as they exclude relevance of high/low/50% range of past price levels.

That's true. Each individual trade is a bit of a gamble, but overall I have a positive expectancy because I have experience of instruments that I trade, I don't abuse leverage, don't trade within noise of intraday, etc. Today could have been a bad day, tomorrow may be a better day, what matters...

Capitalism killed 500k Americans. But hey, this happened in many countries apart from very few.

Hold on, you just said that low win rate systems don't exist. I just disproved this.

Seriously? 700 losses x $1k 300 wins x $5k Do you need a calculator?

Why the obsession with high win rate? Are you saying it's not possible to have a profitable low win rate system? Edge is ability to make more $ than lose $. Many can't comprehend this way of thinking. Many abuse leverage, in fact are leveraged to the hilt and this what makes them lose money...

Sorry your first part of reply doesn't make sense to me. What are you trying to say? As far as your second part goes, tell this to Hwang. I personally don't believe that edge's exist, I think it's more of a marketing BS. The only edge is a trader's knowledge/experience and without proper risk...