stepping in here again @ 12310 YM shorting. AVERAGE COST 12291.
12274 cash.
holding short with 2 entries.
surf
12274 cash.
holding short with 2 entries.
surf
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The Surf Report
- Thread starter marketsurfer
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as usual, our initial entry was early, the 2nd entry appears to have been accurate thus far. trade sitting near even here. holding short into thursday.
surf
surf
man, looks like this entry was wrong and the info erroneous this time. however, not throwing in the towell just yet. the stop in YM is 12343. will see.
squeezed surf
:eek:
squeezed surf
:eek:
Quote from marketsurfer:
man, looks like this entry was wrong and the info erroneous this time. however, not throwing in the towell just yet. the stop in YM is 12343. will see.
squeezed surf
:eek:
The YM might be at a top. Key word there . . . might. Not that you care but I'm showing an aggressive short triggered at 12320. Regardless of whether 12320 is an aggressive top or not, PRICE WILL OSCILLATE back toward 12343 in the not so distant future to either confirm 12343 as the top creating an oscillation that fails to break through that price level or deny it by breaking through it. You have been unsuccessfully trying to pick this top for months, why not just wait till it confirms?
Quote from ProfLogic:
The YM might be at a top. Key word there . . . might. Not that you care but I'm showing an aggressive short triggered at 12320. Regardless of whether 12320 is an aggressive top or not, PRICE WILL OSCILLATE back toward 12343 in the not so distant future to either confirm 12343 as the top creating an oscillation that fails to break through that price level or deny it by breaking through it. You have been unsuccessfully trying to pick this top for months, why not just wait till it confirms?
how did you come up with the 12343 figure? its intriguing that we both have the same number.
surf
Quote from Bearbelly:
Professor why do you say it must test? I know highs and lows are usually tested but not always. Occasionally you have a V reversal dont you?
Never!
Every Support oscillation is ALWAYS followed by Resistance oscillation and every Resistance oscillation is ALWAYS followed by Support oscillation. It doesn't nesessarily mean Price will closely test its last Resistance or Support level. What I mean by testing is a reference to the single indicator oscillation. The test means that the oscillation will challenge that top. I use a single smoothed indicator to verify that Resistance oscillations have been created and Support oscillations have been created.
In this specific reference; If a Resistance ioscillation is created at a like Prime (Extreme) Level and Fails to breakthrough the 12343 Price level then we immediately determine that a top has been confirmed for "X" period of time.
Even in the case of "V" tops and bottoms, the market will always oscillate back to confirm or deny those specific "V" tops or bottoms as long term tops or bottoms. I use Volume Bar charts when viewing any markets because they produce clearer smoother charts.
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