I don't get how you figure the SP will be going up like 18% in a month. Nonsensical. There is nothing left to drive the market that far in such a short amount of time. 2, weeks, 4 weeks, even 12 weeks.
S&P Futures Opens Down 20 Points!
- Thread starter schizo
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I don't get how you figure the SP will be going up like 18% in a month. Nonsensical. There is nothing left to drive the market that far in such a short amount of time. 2, weeks, 4 weeks, even 12 weeks.
you are probably right
I am no expert and I am used to seeing 5 min chart.
perhaps 24 weeks.
but that number will come.....time is one thing I have not seen anybody target accurately
Indeed. Don't make calls like that, they are self-defeating and unrealistic. The strongest up day I had ever seen, point-wise, was Dec 26th 2018, and that was under very favorable conditions leading up to it.
Granted, I have not been following the markets for decades. But man that was a doozy!
Al Brooks breaks down his trades and gives you the underlying rationale. He doesn't just blindly throw out a random number like someone that I know, who openly claims himself as a "born-again Al Brooks' acolyte" but does none of the things he teaches.
I made over 30 points today by shorting the ES (roughly 300 Dow points). Kamakaze, it ain't. Just plain common sense and not being married to a direction.
I said he helped me in my trading.
I do not claim to follow him and there is no need to
well done
I think we are not in the same time frame...….
the daily and 4 H and the hourly are bearish
however the weekly and monthly are opposite....extremely bullish.
this is an observation and not a trading plan.
that you have to make according to your time frame and risk profile
unless the big boys sell there cannot be a sustainable downtrend.
this down move will always reverse sharply since it is short selling.
by simply staying out of market the big guns ensure a steady uptrend.
and yes Brooks never talks like this.....I do have my own intelligence and market experience...the problem is I have not been able to convert that into hard cash......and still trying to.
market wisdom alone does not encash.
a formal plan based on market realties is needed too.
this is what makes trading so tough
this down move will always reverse sharply since it is short selling.
by simply staying out of market the big guns ensure a steady uptrend.
and yes Brooks never talks like this.....I do have my own intelligence and market experience...the problem is I have not been able to convert that into hard cash......and still trying to.
market wisdom alone does not encash.
a formal plan based on market realties is needed too.
this is what makes trading so tough
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the biggest problem is that we are looking for secrets on how to trade.
that is why names like Brooks comes up.
if you observe the markets and see what is happening and what the majority of traders are doing, which is reflected in market movements, then you will be in synch with the market.
Rather than search for secrets look for information -common information-in price action something which all traders are privy to.
that is what Brooks taught me and that is the secret of all good traders.
searching for secrets which no one else knows, means you will be trading a direction which is in opposition of what the market is doing.....so you will be killed
that is why names like Brooks comes up.
if you observe the markets and see what is happening and what the majority of traders are doing, which is reflected in market movements, then you will be in synch with the market.
Rather than search for secrets look for information -common information-in price action something which all traders are privy to.
that is what Brooks taught me and that is the secret of all good traders.
searching for secrets which no one else knows, means you will be trading a direction which is in opposition of what the market is doing.....so you will be killed