Indu is ready to rip. Divergence, MA bundle bounce, C wave, and what better time for the "economic stabilization fund" to blast the shorts then when volume is light....
"Bang" for the buck.........
:eek:
I'll guess days back for the buy and sell for $100.........
:D
Trend following wizards got smacked this summer. The market has been down right abusive!
http://www.automated-trading-system.com/trend-following-wizards-june-12/
The setup......
Trendline then H/R breakout, strong divergence, higher low, MA bundle getting compressed, .618 fib level.
Barring a general market crash, I expect it to retrace to the MAs where I will add shares and raise the stop.
These repeating discussions illustrate the conundrum of the human condition. We need to decide what is right and wrong, yet we can never agree. And the only way to know is to test our beliefs, to see their effects. It can take several generations for the experiment to play out.
History of...
Weekend debrief.
"What If" time.......
How would I have executed FAZ (using my hindsight goggles) to perfection?
Don't laugh, amateurs like myself need this kind of mental development.
There were two obvious buy signals that I rejected on the premise that they were not "third wave...
Premarket pop of epic proportions!
Looks like the "ABC" happened during that huge gap, or there is more to come......
:eek:
Times like this I think of Tharp, who said it's easy to design a Holy Grail system for any particular type of market conditions, but not one for all market...
For anyone out there (unlike yourself) whose bitterness has not yet closed off their mind, here is what he was talking about.......
Price crosses the entire bundle of MA's, attempts to retrace and cannot penetrate, then is deflected.
This happens practically every time a major trend reverses.
FAZ making good waves.....
My expected point of entry is after wave C, possibly after a .618 retrace.
When I first started trading, I would never go to these lengths to make sure I had it right. I would just jump in, because I "thought" something was going to happen...... And I would...