Overbought/oversold

[margin_gamble]

It gets better when you throw in the Lion who breathes with FIRE ................ FIRE being Fibonacci

Dig this ........ using the same Dow Jones weekly chart shown above ..........

Use the Fibo projection tool on Wave 1 as shown. The projection will give you the end of Wave 3. And as you can see it was bloody near perfection. And remember that the entire world was dying on the verge of going broke nobody knew how to solve the problems they had to call Warren Buffet and he didn't know doodly either. world was caving in

So we go t Wave 3 down and then the rally up to complete wave 4. Se we still needed wave 5 down and only then would the Financial crash be over.

so how the %$$#$ to figure out wher eWave 5 would end?

Easy if you're yours truly.

Wave 5 = Wave 1 or 161.8%x W1 or 261.8%xW1

Turned out to be 261.8% x W1. Boom!!!!

Wave 5 shown here

Boom! that's how you nail a BEAR market bottom. BEAR knows this about me. He heard me bellow at him, "Bear, you magnificent bastard I read your book!"

 

[earth_imperator]

Larry Williams explains his "Williams % R" indicator:
https://williamspercentr.com/the-original-percent-r

 

[Slope Trader]

What indicator is that line please? And what affects the color change?

I'm not sure what your arrows are pointing out, is it an indication to enter a trade? Is it affected by the indicator line? But based on what I'm seeing, if we stop the chart right here where I crop the image, then the stochastics are showing highly oversold for several bars, so would this not be setting up a long entry? Its of course only one failed trade out of all the others marked, if the arrows do in fact indicate a possible entry, so the win rate is nicely high, but just wanted to point this out and ask for the details. Thanks.

View attachment 292860

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Hi Noah,

The blue&red line is a medium-term (between 30 and 80 periods) exponential moving average that is coded to be blue when the slope is up and red when its slope is down. When the slope is up it is best to only respond to buy signals to go long and when the slope is down to only take sell signals. It is often a good time to buy when the slope of the EMA is up and the momentum indicator has gone to an extreme low (below its lower line). Similarly, during the red downtrend on the right side of the chart, movement of momentum to extreme highs above the upper line are places to look for short entries.

 

[NoahA]

.

Hi Noah,

The blue&red line is a medium-term (between 30 and 80 periods) exponential moving average that is coded to be blue when the slope is up and red when its slope is down. When the slope is up it is best to only respond to buy signals to go long and when the slope is down to only take sell signals. It is often a good time to buy when the slope of the EMA is up and the momentum indicator has gone to an extreme low (below its lower line). Similarly, during the red downtrend on the right side of the chart, movement of momentum to extreme highs above the upper line are places to look for short entries.

Thank-you for the detailed explanation.

 

[murray t turtle]

The simplest tools that have stood the test of time are the best. I personally have made RSI my own by nuancing it - not to be found in any books. Get to know your tools well, know them inside out, you need no more than 2 at the very most, 1 is best.

Travel light.

%%
LOL
THATS why i looked @ RSI again today[make sure its not on a super streak\LOL]. Then took it off.
BUT I'm testing a few more indicators, in order to to travel light i have to measure a light candle much.Gator ossilator seemed fun; but never could get any patterns like i wanted.
I'm also looking for candle market pattern like the Asian woman, bowing down \with respect,. Later,Alligator.

 

[margin_gamble]

%%
LOL
THATS why i looked @ RSI again today[make sure its not on a super streak\LOL]. Then took it off.
BUT I'm testing a few more indicators, in order to to travel light i have to measure a light candle much.Gator ossilator seemed fun; but never could get any patterns like i wanted.
I'm also looking for candle market pattern like the Asian woman, bowing down \with respect,. Later,Alligator.

Asian woman bowing down - like so?

 

[margin_gamble]

%%
LOL
THATS why i looked @ RSI again today[make sure its not on a super streak\LOL]. Then took it off.
BUT I'm testing a few more indicators, in order to to travel light i have to measure a light candle much.Gator ossilator seemed fun; but never could get any patterns like i wanted.
I'm also looking for candle market pattern like the Asian woman, bowing down \with respect,. Later,Alligator.

Obama with the Thai Prime minister - Love at first sight. Michelle was furious.