Simplicity in TA
- Thread starter Xspurt
- Start date
This is trading. Outsiders never understand it. They want opinion and trader shouldn't have an opinion. He may be long but looking for short or any other combo as Xspurt said.
Everything is a continuously changing balance of odds in this business. And one either adapts... or falls prey to someone else who adapts better.
Everything is a continuously changing balance of odds in this business. And one either adapts... or falls prey to someone else who adapts better.
Are we to assume you do then? Outside of maybe 5-10 people in the world, does anyone on earth know? The best we can all hope to do is keep track of the evidence and be prepared if/when things change. I think Xspurt does a terrific job presenting the evidence.
Of course I do... at times...my legend precedes me...the way lightning precedes thunder...but let's not deviate this thread from its purpose, which is to present "simplicity in TA" according to Xspurt's analytical and trading abilities...or lack thereof...which are now apparent to more people than just...me...me...me...me...
FoN for example...and surely dozens of silent lurkers...
This.Quote from Xspurt:
Please gives us another example of where I am wrong
....
Anyway. Best of luck with sick mom recovery, and trading, and selling training to newbs, etc.
Apparently they caught that child molester, that you accused me of being, and he was not me. Just another mistake of yours. Another black stripe for the tiger?...err, the zebra...
Bye.
I asked you to clarify by giving me an example of where I am not clear, but so far no come back. It was a genuine request to check if I am not being understood or if you cannot read a signal bar.
Looking at the big picture, I mapped out the move to the top, the breakdown, and the the ABC pull back all well in advance of it happening.
Looking at the medium picture I have called daily reversals...
Then on the intraday view I have called 4hr reversals and lower too.
Over the weekend I was saying I don't buy into the new high on the Dow as good news and had become very bearish looking for a short signal.
I don't know how to show more conviction or set you up to be on the right side of a major trade any better than this unless I actually hit the mouse for you.
If you can read a signal you'd have been long as I said I was until this weekend and then you'd have been reverting to very bearish mode looking to reverse short and ignoring the ballyhoo about new highs.
Over to you
From a simple TA perspective the line in the sand is around 1320-25, that would be a backtest of the broken downtrend from the 2007 high. Is that right?
FWIW I'd guess that line would hold if tested and the bull market will continue for another couple of months or so... but that's only a guess.
FWIW I'd guess that line would hold if tested and the bull market will continue for another couple of months or so... but that's only a guess.
Some questions. How do you know that it's the rising wedge that the market is "adhering to" and that a short bias is appropriate? Why not the broken trendline from the 2007 high or the uptrend from the October low and a bullish bias?
Why not look at this pullback as a buying opportunity? Why not say 1320ish is the "buy zone" because of the two possible support lines in that area?
Why not look at this pullback as a buying opportunity? Why not say 1320ish is the "buy zone" because of the two possible support lines in that area?