Scataphagos why do you have me on block? Wanted to ask you some questions and laud you for your detailed analysis.
Christmas In March For Price TA Trader Wannabes
- Thread starter Scataphagos
- Start date
Hi,
What's the setup of your charts? They don't look like minute charts.
What's the setup of your charts? They don't look like minute charts.
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Look at ES and NQ charts together… if not clear on one chart, will be more so on other
Reading chronologically…Buy Support, Sell Resistance
Bear pivot
Matched high sell
Rising bottoms buy (complex low on Nas*)
Bear pivot on Nas
Fib
Upside breakout of congestion*
Bull pivot.. backtest of breakout
Bull pivot
%K
Matched low ?… looking for matched low, but “turned early”
* Likely the only ones most traders recognized
There are other signals too, but would clutter the chart too much
So… did I catch all of this? Of course not… I never do, but it was clearly there to be caught!
We can’t watch the market with intensity 24/7. Our objective is to “catch what we can”. For traders to succeed with Price TA, we need only to (1) catch some of the most obvious setups, and (2) avoid taking large losses.
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Inspired?
KISS, baby! As Always.
5-min charts
I don't recall why... prolly some specious reason. Have taken off block for now.
Generally, technical analysis is not about why, but how. I never asked you about why, but how.
When ES was at 4025 (the time of my post), you could make a decision. Long, flat (don't enter any trades) or short.
If it's really Christmas in March for your method you should easily be able to give a real time demonstration next week.
Attributing a story to price moves in hindsight is very different from trading the same chart in real time.
Thank you.
In hindsight analysis, who doesn't have 20/20 vision? What's happened is not important. As they say, quit indulging yourself with the past and move on. Otherwise, the future becomes meaningless.
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Scat, what you say makes sense, but there are obstacles.
There are numerous time frames and numerous S/R levels.
Are you saying (and I think you are) you only pay attention to S/R levels according to the tf you are trading?
So, then it becomes difficult to answer someone who asks: "What's your call right now, go long or short?"
Well the answer is: "In my time frame I may want to go long, but in your tf you may want to go short" and then go into an explanation on your timeframe which may vary according to your and mkt conditions.
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The answer is there are only probabilities, no definites in trading.
My call is, on a daily basis, SPX is not out of the woods yet, so expect volatility surprises.