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Technical case for the top being in?
- Thread starter swtrader
- Start date
Quote from swtrader:
i'm calling it - the top is in
i'm putting my reputation, as an anonymous person on the internet, on it
I do agree that it looks a bit different this time, and that makes me VERY cautious on the long side at this point. However, I'm wouldn't call a final top just yet. It is definitely possible and I wouldn't be the least bit surprised to see it tank from here, but I also wouldn't be the least bit surprised if this was one final setup to screw the shorts before a true blowoff top. A manipulated market is VERY difficult to judge on a daily time frame, and this is one of the most manipulated markets in history.
Quote from FB123:
I do agree that it looks a bit different this time, and that makes me VERY cautious on the long side at this point. However, I'm wouldn't call a final top just yet. It is definitely possible and I wouldn't be the least bit surprised to see it tank from here, but I also wouldn't be the least bit surprised if this was one final setup to screw the shorts before a true blowoff top. A manipulated market is VERY difficult to judge on a daily time frame, and this is one of the most manipulated markets in history.
they definately borked the shorts today
I do not use classical TA methods anymore. So I have no charts to share with MA`s or Oscillators.
But here is how i`m reading things. We are just pulling back. And we will move sideways/vacillate for a few months then resume trend.
The majority of this move has happened on declining volume (IMO = non believers). And as most majors trends occur, the least amount of participants are involved. The non-believers will now take the chance to get short. They will look good for a spell as the mkt finds a pivot support level. Then they will have their heads ripped off... This will bring in the increasing volume most technicians look for in a trend..buying will beget buying.
Anyhow, i`m talking my book and positioned long here from lower prices and adding today.
Good trading to you no matter what your opinion is.
But here is how i`m reading things. We are just pulling back. And we will move sideways/vacillate for a few months then resume trend.
The majority of this move has happened on declining volume (IMO = non believers). And as most majors trends occur, the least amount of participants are involved. The non-believers will now take the chance to get short. They will look good for a spell as the mkt finds a pivot support level. Then they will have their heads ripped off... This will bring in the increasing volume most technicians look for in a trend..buying will beget buying.
Anyhow, i`m talking my book and positioned long here from lower prices and adding today.
Good trading to you no matter what your opinion is.
Quote from indahook:
I do not use classical TA methods anymore. So I have no charts to share with MA`s or Oscillators.
But here is how i`m reading things. We are just pulling back. And we will move sideways/vacillate for a few months then resume trend.
The majority of this move has happened on declining volume (IMO = non believers). And as most majors trends occur, the least amount of participants are involved. The non-believers will now take the chance to get short. They will look good for a spell as the mkt finds a pivot support level. Then they will have their heads ripped off... This will bring in the increasing volume most technicians look for in a trend..buying will beget buying.
Anyhow, i`m talking my book and positioned long here from lower prices and adding today.
Good trading to you no matter what your opinion is.
the ocillators on those charts is more just lazyness of not taking them off
i really never look at them any more, becasue they lag too much
but i do very much believe in the signifigance of monthly MAs