RISKs are a major part of my style
Planet Earth's ultimate Short side game began Nov 2021
- Thread starter margin_gamble
- Start date
Trading techniques exist in the thousands.
Once you break away from the one you have been using that has generated mixed results but no real joy and stumble into the next higher level you will know it instantly as the new one's lips are warm while the previous one's had gone cold for months
Go with the new one ............
Once you break away from the one you have been using that has generated mixed results but no real joy and stumble into the next higher level you will know it instantly as the new one's lips are warm while the previous one's had gone cold for months
Go with the new one ............
new order: QQQ short @ 298.3
before market close, catastrophic Stop for all today's ignited trades placed at 319 and all positions left open.
Core short position as-is and has no stop
Core short position as-is and has no stop
the bell ...............
review later today
review later today
Pull up your QQQ daily chart and refer to it. Mine is attached below.
Trend reversal from 11/22/21 is in play.
Lower wave highs, lower Wave Lows
Even the venerable Dow Theory that has stood the test of Time confirms a Bear Market underway. The original Dow Theory components were the simple DJI & DJT. Some practitioners have added SPX to the mix and will not call a Bear or Bull unless the signal is unanimous across all 3 Indexes. I go a step further and deeper and include Nasdaq Comp, NYA & London FTSE 100.
Note that ALL the above have declared a Bear.
And to answer the question with my 2 cents to the following thread
https://www.elitetrader.com/et/threads/how-will-you-determine-that-we-have-bottomed.367754/
when higher wave lows and higher wave highs occur and Dow Theory issues a new Bull, then the bottom is IN.
Therefore in this unit of time, the TREND is Down, Down, Down. Yes of course it can change without notice and on a dime, but at this ogonblick it BE down, down, down.
QQQ daily with my own personal wave count:
http://tos.mx/YCqi6G2
http://tos.mx/YCqi6G2
QQQ daily wave count has a Muhammad Ali feature that is native to the great Man and is to be found in the behavior of a very certain portion of the wave. It is when a WAVE subdivides by doing a 1-2, then a 1-2, and sometimes even one more 1-2 before continuing into normal wave generation. This throws people off because they will count 1,2,3,4,5 etc., and get nowhere fast and lose moolah like there's no manana
So therefore when you see a 1-2, then a 1-2 again in quick sequence, it means we are already into the Killer wave aka Wave 3. So now look at my QQQ daily to the bottom of the move and see the 1-2 and 1-2.
((I mentioned before that this is not Elliotwave, but it is the same field as it is Waves but I, unlike others do have have the gall to give the Waves of the Universe the name of any Man. They belong to mankind, who has these same waves in the brain, heart, blood, thoughts etc., That anybody on Planet Earth could have figured out how these waves work in totality is preposterous. Novice, novice, novice is who I am as I kneel before God and God only and request guidance so I can learn more))
In the QQQ chart the 1-2, 1-2 is telling me that the 3rd wave portion is next. This is the part of the wave when there is no mercy shown and the down moves will be relentless and seem to go on forever but they do follow certain traits like for example wavelength 161.8% being the most common.
If I am right you will see for yourselves how I measure the end the rocket fueled thrust.
QQQ daily wave count has a Muhammad Ali feature that is native to the great Man and is to be found in the behavior of a very certain portion of the wave. It is when a WAVE subdivides by doing a 1-2, then a 1-2, and sometimes even one more 1-2 before continuing into normal wave generation. This throws people off because they will count 1,2,3,4,5 etc., and get nowhere fast and lose moolah like there's no manana
So therefore when you see a 1-2, then a 1-2 again in quick sequence, it means we are already into the Killer wave aka Wave 3. So now look at my QQQ daily to the bottom of the move and see the 1-2 and 1-2.
((I mentioned before that this is not Elliotwave, but it is the same field as it is Waves but I, unlike others do have have the gall to give the Waves of the Universe the name of any Man. They belong to mankind, who has these same waves in the brain, heart, blood, thoughts etc., That anybody on Planet Earth could have figured out how these waves work in totality is preposterous. Novice, novice, novice is who I am as I kneel before God and God only and request guidance so I can learn more))
In the QQQ chart the 1-2, 1-2 is telling me that the 3rd wave portion is next. This is the part of the wave when there is no mercy shown and the down moves will be relentless and seem to go on forever but they do follow certain traits like for example wavelength 161.8% being the most common.
If I am right you will see for yourselves how I measure the end the rocket fueled thrust.
http://tos.mx/YCqi6G2
See that dashed red line just below Price in my chart? That is the 38.2% massive support level. What makes this exciting for me is that if I am right in calling a rocket move down, then what would become of the support? Crash in one shot boom, right thru'? Or at least a small bounce for a couple to 4 days?
Hide and watch
See that dashed red line just below Price in my chart? That is the 38.2% massive support level. What makes this exciting for me is that if I am right in calling a rocket move down, then what would become of the support? Crash in one shot boom, right thru'? Or at least a small bounce for a couple to 4 days?
Hide and watch
Attachments
Muhammad Ali's 1-2, 1-2, 1-2 can be clearly seen from his first fight with Sonny Liston.
But there is a better one, a fight in which he was up against a devastating puncher, a Man so deadly with such punching ferocity, that Ali had already decided he would have to absorb the shots to the stomach to tire the giant out and all the while during the rounds to keep the giant guessing by his 1-2, 1-2 sequence of punches. Then in the 8th round is when the rocket move took place and even caused the commentator to cry out loud, "that was no phantom punch!"
But there is a better one, a fight in which he was up against a devastating puncher, a Man so deadly with such punching ferocity, that Ali had already decided he would have to absorb the shots to the stomach to tire the giant out and all the while during the rounds to keep the giant guessing by his 1-2, 1-2 sequence of punches. Then in the 8th round is when the rocket move took place and even caused the commentator to cry out loud, "that was no phantom punch!"