Search results

I think you can go both ways on this if you have an edge. I don't mind being positioned ahead of FOMC or other announcements if I have a strong conviction based on the charts.

Nice. Sounds like Yoda! How do you define a dip?

Merv -- nice job. Do you mind sharing your overall approach (generally)? Just curious. In addition to ES / NQ trades this morning, I bought Ethereum overnight at 2738.85 -- so far, so good. Also added GBTC on open. Still holding silver for now.

Do you mind explaining your rationale? Not attacking you -- just would be helpful to know why you reached that conclusion?

Looks like S&P might have another 20 points to fill that gap.

Today so far is definitely one of those days you have to have CONVICTION in what your charts are telling you to stick with your positions. Sat thru the choppy morning (it helped not looking at my screen!).

Nice trade on oil -- I had my eye on it too -- figured it would bounce back fairly easily given its stronger uptrend but got focused on silver.

Custom oversold indicator for S&P 500. Really oversold as of yesterday's close. If we don't bounce here, that's telling us something.

A bit of an inverted hammer pattern on the ES as of close yesterday and breadth got pretty oversold as of close too so expecting a much better chance of ending in the green today.

Hey -- don't want to hijack the ES thread but here is the other stuff I'm trading if anyone else is also looking at these markets:

Definitely got some oversold readings on ES but I liked silver chart as of close yesterday so focused there now as it looks like better long play for today. Not pushing long side on ES yet as I view monthly / weekly charts working against it for now.

Just watching for now. I had monthly sell signals going into this month and seem to be playing out now -- I kinda forgot about my monthly charts last week. :banghead:

So much for having a bullish bias today but ES followed projected cycle pattern quite well.

Getting some swings already. Following the ST cycle pattern pretty closely. We'll see if we get the low later today and then reverse back up.

I'm leaning bullish again today -- we'll see how things play out.

I bought the dip today -- so far, so good.

Ken: You have clearly defined patterns as a trader which from a third party viewpoint are easy to see -- may not be so easy to see yourself.

Good day today -- unfortunately wasn't able to participate given some other obligations / distractions. This is one of those situations where you have to rely on your bias.

One of the reasons I bailed on close yesterday was my ST oscillators being overbought in the context of declining momentum indicators: