We have a perfect Textbook Island Reversal at the top of the ranges here on all Indicies... It`s The Bears turn to gloat.... Real Traders may want to consider sliding on their Shorts one leg at a time... To the pesky investors here that pretend to be traders... you know who you are... don`t bother!
Island Reversal ... All Indicies ... 4/21/20
- Thread starter Spooz Top 2
- Start date
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OK;
UPRO, + SPYG is still uptrending/long term=good fill when selling longs+below 200dma;
QQQ is still uptrending/above 200dma...…………………………………………..
I don't mind getting paid on turnaround tues
OK;
UPRO, + SPYG is still uptrending/long term=good fill when selling longs+below 200dma;
QQQ is still uptrending/above 200dma...…………………………………………..
I don't mind getting paid on turnaround tues
You are right. You could have been also right 5 days ago, when the EXACT SAME pattern appeared and lasted 2 days and there was no sell off. Actually 3 days ago I could have pointed out a Head and Shoulders pattern and yet, next day we rallied...
Just sayin'....
if you want to, Post Some Charts in Thumbnail format right in here! Marked up is good. Not Marked up is good.
https://www.elitetrader.com/et/thre...s-in-thumbnail-format-right-here-baby.343012/
Irrelevant .... What you need to understand is "Where & When" these patterns/ setups occur.... random set up are often irrelevant....
Have you considered funding an account yet & trading your opinion? ... It`s a diiferent world when one has real Scarole on the line... Just Sayin`!
Hey Spooz!
In this instance when you refer to legging in, are you actually looking at averaging up or down? Always respect your overall visual on the markets so was just curious whether you were seeing more very short term upside to sell into or if you were suggesting adding into rips south because we've likely seen the highs on 4/17 for now.
Bro, no need to be a jackass. It was at the top of the rally, the perfect place to occur. If a 600 points run up is not a good enough place for a top, I don't know what is...
Now if there is some special difference between the 2 IRs, please enlighten us.
Just sayin'...
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You know Not what you speak, Pek... A traders Perspective & POV is strikingly different from the average civilian/ every day Joe investor, that enjoys "talking the markets"... Iv`e listened to you spew your strong opinions here since 2006 on everything market related ... advising other posters that "they shouldv`e have listened to you" in your perfect 20/ 20 hindsight!
What I don`t understand is that We, the real traders here that back our opinions with our money do precisely that..... but seriously, what prevents you from stepping in the pit/ trading arena & doing the same? Please elaborate , I`d appreciate it!
TIA
I appreciate the kind words.... I`m a scaler by nature... I see it as stealing second base while leaving your left for on first... Intraday would be a range... & if positioned swing/ longer... usually 4 entries over a wider range... but there are times like last night ES/ Globex where it was spot on 2832 pin point price to SS....
Thanks for the response.