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Picking Tops.
- Thread starter Dackster
- Start date
why would I now?
And one for the road on the slap down...........
http://www.charthub.com/images/2006/11/20/ES_317_VB_2.png
Flat now and done for the day......that was a decent move.
http://www.charthub.com/images/2006/11/20/ES_317_VB_2.png
Flat now and done for the day......that was a decent move.
Quote from 5Pillars:
And one for the road on the slap down...........
http://www.charthub.com/images/2006/11/20/ES_317_VB_2.png
Flat now and done for the day......that was a decent move.
nice trade
If you're going to use indicators for finding tops or bottoms, have atleast one over bought- over sold indicator, like MFI, CCI, or RSI. These indicators can be in over bought/ sold levels for long periods of time, so they can be misleading.
I like to look for what I call a "reverse J" pattern, like the one here for HITT
http://stockcharts.com/h-sc/ui?s=HITT&p=D&yr=0&mn=4&dy=0&id=p18745074814
Look for when the stock is "rounding out"... when it begins to curve up or down, thats one of my signals.
I like to look for what I call a "reverse J" pattern, like the one here for HITT
http://stockcharts.com/h-sc/ui?s=HITT&p=D&yr=0&mn=4&dy=0&id=p18745074814
Look for when the stock is "rounding out"... when it begins to curve up or down, thats one of my signals.
Cash - I like the TSI (Ergodic or True Strength Index) for a visual price based reference.........
http://www.charthub.com/images/2006/11/20/ES_317_VB_3.png
Here was a good LONG delta divergence signal with the Ergodic cross (I used this signal to flatten my SHORT position).
http://www.charthub.com/images/2006/11/20/ES_317_VB_3.png
Here was a good LONG delta divergence signal with the Ergodic cross (I used this signal to flatten my SHORT position).
Quote from Dackster:
How do traders know when a top is approaching?
Only those who are using time forecasting methods know when top or bottom is approaching . There is a handful of sites who are dealing with this subject, ask for a free trial pick some brains, you might get an idea or two how to approach forecasting tops and bottoms.
www.tradingpro.com
www.wolfewave.com
www.perfecttradingsystems.com
Good luck