any coincidence price stalled @ 9318.25 (see red horizontal line)
Grow $10k account to...
- Thread starter Phil-n-Texas
- Start date
another pic of the quad showing 20ema relationship to price. still flying in formation, but for how long?
daily chart again with red support lines and fib drawing. notice long tail bounce downward from 61.8 extension and ascending channel upper boundary.
same thing on 60m
so now my explanation for 1 contract. below is my simple lot size calculator based on how much i'm willing to risk and the SL range. the calculator spits out ~3 contracts but i only take 1. why? because i did not have a high level of confidence in the trade to begin with and it's a counter trend trade. my choice.
re: market internals
5m charts of DJI, SPX, and COMP, in disagreement. which one will win? i usually side with COMP but considering it's waffling behavior today could just be profit taking after Tesla parabolic move yesterday. i won't pretend to know and don't have the crystal ball.
it's 1pm cst, do you know where your money is!?
5m charts of DJI, SPX, and COMP, in disagreement. which one will win? i usually side with COMP but considering it's waffling behavior today could just be profit taking after Tesla parabolic move yesterday. i won't pretend to know and don't have the crystal ball.
it's 1pm cst, do you know where your money is!?
inside bar on 60m and new fib.
the green bar in yellow box was inside bar on 60m and the push up went to 38.2 retrace on most recent leg (day session hi/lo). if there is a move downward below inside bar it's possible it might continue to other aforementioned targets taking out stops from trades trying for a reversal in that zone. this prompted me to draw the fib on from day hi to lo which reveals confluence zones from previously drawn s/r and fibs on multiple time frames. just my observations, ymmv. regardless this could be beer money or greater at this point.
the green bar in yellow box was inside bar on 60m and the push up went to 38.2 retrace on most recent leg (day session hi/lo). if there is a move downward below inside bar it's possible it might continue to other aforementioned targets taking out stops from trades trying for a reversal in that zone. this prompted me to draw the fib on from day hi to lo which reveals confluence zones from previously drawn s/r and fibs on multiple time frames. just my observations, ymmv. regardless this could be beer money or greater at this point.
thx PD. nothin' fancy just 20ema, floor pivots, and prior day hi/lo. the rest is interpretation.
I was referring to your breadth charts posted earlier in the thread.