Can someone please explain the technical analysis to me for fast and slow stochastic, ADX and RSI? Thanks. Based on this analysis would it be good to go long or short?
Technical analysis
- Thread starter Josh Stefaniak
- Start date
Can someone please explain the technical analysis to me for fast and slow stochastic, ADX and RSI? Thanks. Based on this analysis would it be good to go long or short?
Great question. I'm very interested in hearing all the opinions myself. This is an excellent chart to start with imo because everyone already knows the outcome of last Fridays session. All that's necessary is an explanation of why it happened and how we can trade it the next time it happens.
Hopefully the clowns and their smart alec remarks won't bother you with stupid comments. If they do just click on their names and a window will popup where you can ignore them in the future. If they're really obnoxious and you think it would help others feel free to click on the complain button on the bottom of their posts before you put them on ignore.
That's a beautiful chart! I'm really looking forward to hearing some real analysis of where it's been? Where it is? Why it went where it did last Friday? Where it's going?
Thanks again for starting this thread.
Hopefully the clowns and their smart alec remarks won't bother you with stupid comments. If they do just click on their names and a window will popup where you can ignore them in the future. If they're really obnoxious and you think it would help others feel free to click on the complain button on the bottom of their posts before you put them on ignore.
That's a beautiful chart! I'm really looking forward to hearing some real analysis of where it's been? Where it is? Why it went where it did last Friday? Where it's going?
Thanks again for starting this thread.
I personally would never base any trading decision on stochs, ADX and RSI.
If this chart was a 5-min chart, I'd be preparing for a long signal and would then cross-reference a 1-min chart for my entry setup. If instead a short signal occurred, I'd be surprised, but wouldn't hesitate to take entries to the short side.
The chart as it is does not yet contain a valid signal for me to determine which direction I'd prefer to initiate a new position.
I do use sometimes use stochs on a daily chart for swing trades, but not with the pattern I see in those last 7 bars. I'd be purely using price action in this situation.
The chart as it is does not yet contain a valid signal for me to determine which direction I'd prefer to initiate a new position.
I do use sometimes use stochs on a daily chart for swing trades, but not with the pattern I see in those last 7 bars. I'd be purely using price action in this situation.
Why are you posting a late chart and asking for advice...do you realize you're missing price action data from your chart...all of Friday October 16th and part of Thursday October 15th ?
There are tons of free websites giving you Long and Short recommendations for the Emini ES futures. Some give their track record and many other information in comparison to anonymous folks at a discussion forum.
Stocktwits.com @ http://stocktwits.com/symbol/ES_F
Investing.com @ http://www.investing.com/indices/us-spx-500-futures-technical
BarChart.com @ http://www.barchart.com/commodityfutures/E-Mini_S&P_500_Futures/ES?view=technical
There's hundreds more free sites but the few above will get you started in asking anonymous folks for free trade advice. At least these sites you can keep your own personal track record of the advice for comparison with each other even if they don't show their own performance record.
P.S. I'm beginning to think Baron (ET owner) is hiring people to create new aliases and then start TA threads to help keep the post count up at his forum.
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How many green candles in a row increase the odds that the next candle will be in the same direction?
If you flip a coin 10 times and heads come up 10 times, are you in a heads trend??
surf
Back in the day, I tested various permutations of that type of analysis and none of them were viable. Today I understand even if those types of ideas are profitable their edge is weak and fleeting because there's no underlying logical advantage or reason why their logic should persist into the future.
Ok, thanks. Are you able to explain how techinical analysis can provide an edge without first answering the very basic question posed in my earlier post?
Surf
My weekly posted outlook:
One more chart, this is again monthly chart of S&P500 this time, clear divergence between MFI and price (MFI of course isn't just based on price performance, but volume as well). MACD histogram is negative to the extent that will not instill confidence, quite the opposite (bearish sentiment). And of course multi-year trend line has been violated on strong volume.
I believe my outlook to have strong technical validity, as this is a macro chart and all fundamentals are reflected in price performance on this time frame.
The only index that has so far prevented from downside acceleration is NDX, which is above it's 20MMA. Once it breaks it and the key zone that I monitor on all other indexes it would take months to get indexes back to ATH.
One more chart, this is again monthly chart of S&P500 this time, clear divergence between MFI and price (MFI of course isn't just based on price performance, but volume as well). MACD histogram is negative to the extent that will not instill confidence, quite the opposite (bearish sentiment). And of course multi-year trend line has been violated on strong volume.
I believe my outlook to have strong technical validity, as this is a macro chart and all fundamentals are reflected in price performance on this time frame.
The only index that has so far prevented from downside acceleration is NDX, which is above it's 20MMA. Once it breaks it and the key zone that I monitor on all other indexes it would take months to get indexes back to ATH.