RSI > 99, Money Flow > 99, %200 Volume Spike and Fibonacci Retracement

[Satan's Helper]

RSI > 99, Money Flow > 99, %200 Volume Spike and Fibonacci Retracement


Anybody using this technique for picking tops?


Rule 1 the RSI is greater than 99.

Rule 2 the MFI or Money Flow Indicator is greater than 99.

Rule 3 the volume must spike at least %200.

Rule 4 every time the Volume spikes more you keep shorting more.

Rule 5 the Fibonacci retracement levels are used to scale out of position in two ways. The first is profit targets and the second is if the price crosses over a level then you get stopped out.

Rule 6 (optional) if the Andrews Pitchfork is broken to the upside close out the position.

Rule 7 This strategy is only used during the last week of options expiration and no Fed meetings are being held.

 

[MemoryofPSEMEL]

What markets are you using this on?

 

[Satan's Helper]

Anything that does not trend. Established large caps and choppy futures..

 

[HurricaneUS]

I don't reply to devil worshippers...fwiw your nick is annoying

 

[Satan's Helper]

Quote from HurricaneUS:

I don't reply to devil worshipers...fwiw your nick is annoying

I am not a Devil Worshiper! I am the right hand of our Dark Lord that one day you will learn to worship. I assist.

Hell, you are already here because your greed has drawn you into the life style the Dark Lord has intended! Do yourself a favor and let go. Enjoy the pleasures that Satan allows and your so called God does not.

If you are here it is only a matter of time till temptation gives you salvation! Go out and have fun!

Lust after that stripper, hooker or your best friends wife.

Eat all you want and take what you will.

Let winners run and be greedy with yours profits. Don't worry who pays for it because it was your in the first place.

Do it all from the comfort of your home and you don't even need to move a muscle.

When you have a loss unleash your inner anger. Do whatever it takes to let your inner volcano run freely.

If you can't make what you want envy your superiors.

If things work out be proud and show off your success with a new car, house or what ever you have been lusting after.


The one who serves the Dark Lord.

 

[HurricaneUS]

ahh now you're just fucking with me...

 

[Satan's Helper]

Here is what I have to say to that hurricaneUS... Yes I have been dying to pull this mature response!!!!!


<iframe width="420" height="315" src="http://www.youtube.com/embed/Cs4Gj7JsET4" frameborder="0" allowfullscreen></iframe>

 

[viktor_k67]

Quote from Satan's Helper:
Rule 1 the RSI is greater than 99.[/B]

No

Quote from Satan's Helper:
Rule 2 the MFI or Money Flow Indicator is greater than 99.

Rule 3 the volume must spike at least %200.
[/B]

If you have 200% spike then most likely MFI will be close to 100. For that I use MVO (extracts bullish/bearish spikes) and then I wait when MFI or other money flow indicator to change its direction.

Everything is quite subjective and depends on what you trade and in what time frame you are.

Quote from Satan's Helper:
Rule 5 the Fibonacci retracement levels are used to scale out of position in two ways. The first is profit targets and the second is if the price crosses over a level then you get stopped out.[/B]

I may keep an eye on it but I do not rely on it. I more trust volume indicators. Volume spikes and surges, volatility level, price direction and price level that's all on my opinion a trader needs.

 

[Lucrum]

Quote from Satan's Helper:


Rule 1 the RSI is greater than 99.

Meaningless

Rule 2 the MFI or Money Flow Indicator is greater than 99.

Useless

Rule 3 the volume must spike at least %200.

does not necessarily indicate a top

Rule 4 every time the Volume spikes more you keep shorting more.

Guaranteed to fail

Rule 5 the Fibonacci retracement levels...

some would argue random coincidence

Rule 6 (optional) if the Andrews Pitchfork

meaningless

Rule 7 This strategy is only used during the last week of options expiration and no Fed meetings are being held.

Why?