OK, who is going to lie and say they saw today's HUGE drop in the charts?
- Thread starter SoyUnGanador
- Start date
I am sure some people saw this coming pretty clearly. It was certainly a possibility I was aware of given macro environment. I mean to be fair the weekly chart is technically as bearish as it's been in 14 years (since 2008). Also, NQ/ES were in the general range of resistances from a daily chart perspective, by multiple different measurements of TA. So, any negative catalyst should not have caught people completely off guard, nor should this move be overly shocking.
But in the end it's kind of irrelevant if you see it in advance or take advantage of it as it starts either way it's generally best to wait for a setup to trigger that you know works to the short side and than take it. You don't have to front run it.
But in the end it's kind of irrelevant if you see it in advance or take advantage of it as it starts either way it's generally best to wait for a setup to trigger that you know works to the short side and than take it. You don't have to front run it.
It's a good thing these two camps are so predictable...
1. Stock investors = look for any excuse to pretend the markets are doing amazing, even to the point of extreme wishful thinking.
2. Federal Reserve = like a broken record "our goal is to get inflation to 2%"
No one could see it because it was based on the cpi numbers. Now it’s time to follow the trend ( down ).
All Gamblers like to brag about nailing economic numbers that are up or down. No different than choosing red or black on roulette,
But if you were to ask them to show you their trading returns....they would turn all stiff, mute and red in the face and look like an owl,
A trader can't win in the long run, overall, by guessing/gambling on results of an event. They need a much more refined, gelatinous, approach, process and understanding. Some food for thought for your future journeys and adventures into this world of trading,
Then show us your trading returns so you will not look like an owl.
%%
Good eyesight SoyUGan
As noted earlier , could just have easy UP moved to mid month , happens many[SPY,QQQ...] SEPTembers \i remember.
But good ''see'' question, because i see on the charts[SPY QQQ, inverse most any]quite a few did see most likely a trade able bear move + it was.[Premarket\ 8;30 open\ 9 CST\ most all day\another clue\ few pullbacks on inverse maybe a trend day. NOT a prediction]
Premarket early futures [radio, related SPY,QQQ DIA] were down today;
lets see if the down move goes to 9 CST\ sure did, so most likely a trade able move.
Great thing about hindsight trends \ NOT prediction @ all.
Great thing about hindsight trends\ even if all of them dont work as well as today.
Greta thing about hindsight trends\ scale in \if early scales dont work /dont add or try to predict.
The trend has been apparent for a while. I remember a couple of ET trolls lecturing me about trends being useless about 2 months ago and there is no such thing. Okay, if you say so fools. I bet you the same ET trolls lost a lot of monies and will continue to lose lots of monies. The stockmarket has no patience for arrogant people without a clue and good only for shooting their mouths off at others, telling you how smart they are and how they have everything figured out. It is good for a laugh though.
I don't even get your point. Nailing the numbers GENERALLY speaking wouldn't even guarantee the direction necessarily anyways(in this individual case due to context, could be an exception obviously). Back when the markets had stable weekly and monthly charts, the markets pretty much only went up, regardless of any good or bad news. Just like the earnings released by companies don't always move in the same correlated direction either.
Point is most people trade to make money, so it doesn't even have to be about nailing the numbers, because you can wait to see the numbers and how price reacts, along with using overall context to see if there's a setup. Notice how we still had massive amounts of downside even after the numbers came out and even after the initial drop. Not to state the obvious but clearly context on a macro time frame is down(Obvious because if you view a weekly chart you will see it has not been this bearish since 08/2008).
I really do not enjoy debating here anymore, so please don't take it the wrong way. Just see you keep repeating about people bragging about nailing the numbers and it's just like irrelevant to everything. Is your only point that you're just tired of them bragging and it's annoying you?
Gamblers look like Owls -- wise people are calm, relaxed, and know what they are doing like a Siamese cat. Don't trade, bet, on reporting numbers and results. That's a losing proposition, eventually, guaranteed. Overbite, I'm sure you're familiar with this and your journal. Structure the trade, the game, and odds and expectations all to your advantage....don't leave nothing in limbo.
Be the cat, not the owl. Is today's lesson,
Mazel tov,