Market chop... buy the bottom of the range, sell top of range. Nothing other until range breaks.

Scataphagos

Scataphagos

Top of range = 4384
Bottom of range = 4338

There is a smaller range within the bigger range if you wish to make a play on it.
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Trade what you SEE... not what you think/hope/feel.

Price TA.. KISS, Baby! :)
 
Scataphagos said:
It IS easy... like finding money in the street... if you understand and can execute.

Do you "get it", or is that sarcasm? I get a bunch of that, you know. :)
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So - coming off the Bottom - it also looks like a Head and Shoulder setup - going Up. It would be interesting - going back further - to see if there was a Support Level - to Stop the downward move. That was one hell of a reversal.

The down move to the Bottom - was probably caused by some Politician opening his or her big mouth - and the Upward move - he or she probably died - so - there was good news at the end of the down move.
 
VSTscalper said:
So - coming off the Bottom - it also looks like a Head and Shoulder setup - going Up. It would be interesting - going back further - to see if there was a Support Level - to Stop the downward move. That was one hell of a reversal.

The down move to the Bottom - was probably caused by some Politician opening his or her big mouth - and the Upward move - he or she probably died - so - there was good news at the end of the down move.
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With due respect, it was a simple RTH retrace that touched 61.8 (rth) and now we are where we are. I wouldn't spend one nano of brain matter about "why", nor would I care why. Only what's next.
 
Well... 4338 (futures) gave way "They" were talking, "4300 SPX gives way, then 4200 quickly." 4300 has broken (4287 currently), but no downside "swoosh" just yet. Gotta watch and be ready.
 
Scataphagos said:
It IS easy... like finding money in the street... if you understand and can execute.

Do you "get it", or is that sarcasm? I get a bunch of that, you know. :)
More...

Little teaspoon of sarcasm. I wouldn't go as far as saying this is "easy". I mean seriously, let's not ignore the big fat bastard elephant in the room that most traders do fail at this and quants spend millions to research small edges in the markets. Most people have average IQ, so what you did there, most people can probably do and see, so why such a high failure rate?

Obviously it's more to it than just KISS. And I personally hate "discretionary" line drawing. Everybody looks at something differently and it's based on "judgment", then you can have countless ways of drawing those s/rs.

And when it does fail, do you keep going? Stop for the day?, whats your target? KISS now becomes kiss, then pull, then push, then bust..:D

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Why all the focus on those tiny micro moves when you can sit back and be short the market with all the macro signs turning South. I can't come up with a single catalyst that would catapult the market higher in the next couple months. Too bad there isn't any regulatory required reporting of brokerage account pnl; I bet 80% or more of those tiny range traders are career pnp negative. Good luck identifying tops and bottoms on past data that have zero bearing on what is going to happen today, tomorrow and the future.
 
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hilmy83 said:
Obviously it's more to it than just KISS. And I personally hate "discretionary" line drawing. Everybody looks at something differently and it's based on "judgment", then you can have countless ways of drawing those s/rs.

And when it does fail, do you keep going? Stop for the day?, whats your target? KISS now becomes kiss, then pull, then push, then bust..:D
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KISS is the concept of "keep it simple"... don't complicate things.

There are NOT "countless ways of drawing S/R".

You only get to KNOW the "start". What happens after, you have to play by ear.
 
Scataphagos said:
Trade what you SEE... not what you think/hope/feel.

Price TA.. KISS, Baby! :)
More...
Hello Scataphagos,

You are correct buddy. You are correct.

Trading gets easier once we KISS and simply SEE the truth in the price.
 
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