Is the Rally almost over??

Quote from Maverick1:



Calling what we are in know a trading range presupposes that you are taking a position on direction. By definition, a trading range is a directionless.

You are operating on a different set of assumptions and definitions of trend. Trends are fractal in nature. They happen on a 5 min chart, they happen on a quarterly chart. No one has any PATENT on the definition of trend. And that will remain the case until technical analysis is rigorously (and I don't mean Edwards and Mcgee) defined and classified. Which will probably never happen btw.

You're right, it is my prerogative to call what I described above trends. I do not derive this from my own analysis, but from Victor Sperandeo's methods. You are also free to disagree with Trader Vic. That's fine. That's the beauty of the market.

As for your comments on what consitutes the 'best' entries, Using Trader Vic's methodology, you can often set up trades with fantastic risk rewards. But you don't identify with his way of classifying trends so there is no reason for me to go any further into the setups and attempt a defense. I have no interest in a debate here. They are pointless, to me.

Best,
Maverick.
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True, if we look at a 5 year chart (where every bar is 5 years), we're in one massive bull market! :)
 
You are operating on a different set of assumptions and definitions of trend. Trends are fractal in nature. They happen on a 5 min chart, they happen on a quarterly chart. No one has any PATENT on the definition of trend.
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Another misconception is that scalpers don't follow trends or use trendlines. I am a scalper that uses trendlines.

When the question is asked "Is the Rally almost over??", my answer is YES based on the trendlines that I use.

If trends are fractal in nature then so are trendlines, rallies, suppport, resistance, pivot points, moving avgs, etc.

Therefore we'll all have different answers for the same question and as incredible as it may seem ... we can all be right or we can all be wrong based on the measurements of time that we're using.
 
Quote from spreadem:

Another misconception is that scalpers don't follow trends or use trendlines. I am a scalper that uses trendlines.

When the question is asked "Is the Rally almost over??", my answer is YES based on the trendlines that I use.
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I'm not sure I understand. If you are a scalper, then, by definition, you are trading very short term time frames, right? The trendlines you use to scalp, they would be drawn on what kind of a chart, a 1min-5min? Longer? Surely you're not scalping based on trendlines drawn on a daily chart?

So, when you say "my answer is YES based on the trendlines that I use", what sort of a timeframe do these trendlines refer to?
I mean, you're not really suggesting that a breach of a trendline on a 2minute chart is sufficient cause to think that the rally, on the dailies, is over?
 
quote from alfonso :

I'm not sure I understand. If you are a scalper, then, by definition, you are trading very short term time frames, right? The trendlines you use to scalp, they would be drawn on what kind of a chart, a 1min-5min? Longer? Surely you're not scalping based on trendlines drawn on a daily chart?

So, when you say "my answer is YES based on the trendlines that I use", what sort of a timeframe do these trendlines refer to?
I mean, you're not really suggesting that a breach of a trendline on a 2minute chart is sufficient cause to think that the rally, on the dailies, is over?
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Yes, I am a scalper that uses trendlines which are drawn on very short term chart, not a daily chart. The rally, trading range or any indicator that I use would be based on that same short term time frame.

I keep a chart of the longer term time frames with associated trendlines also. What happens on the short term time frames doesn't really affect the longer term, IMO.
 
Quote from howellpar:

I sure want to believe the rally's running out of gas! But, it just keeps coming on. Makes no sense, none, . . . .
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Just trade what you see not what you think...

Markets never make sense... they are not humans.. nor do they have any logic....

Trying to reason out the markets... is like having lunch with a psychopath....

--MIKE
 
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