This is what a market bottom looks like

You're trying to call tops and bottoms, yet magically you didn't trade the last one, but this one you traded "because you liked it". So, are you trading on feelings or actual probabilities? and if you're not trading on feelings, why did you make a post about a bottom previously, but not take it?

How are we suppose to know which one to take?


EDIT: And if you really can call bottoms this good, than you are not doing a very good job of utilizing it, because once again the markets are fractal, so if you can call the bottom on a larger time frame / long time period you can apply those same principals to smaller time frames / smaller time period.
 
gaussian said:
To be fair, you have to have a very high IQ to understand bottom calling. The art is extremely subtle, and without a solid grasp of theoretical physics most of the calls will go over a typical viewer's head.
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Depends on whether it is General Relativity or Quantum Mechanics or Theoretical Creationism. I think most of us understand the math of Creationism.
 
Does Theoretical Creationism explain which came first - chicken or egg?

Or that a question the late S. Truett Cathy could answer better? :)
 
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Dow bounced off gann fan the other day and now desperately trying to stay above Chumpie's 1st day in office "line in the sand":
ChumpieBottom.png
 
trdes said:
You're trying to call tops and bottoms, yet magically you didn't trade the last one, but this one you traded "because you liked it". So, are you trading on feelings or actual probabilities? and if you're not trading on feelings, why did you make a post about a bottom previously, but not take it?

How are we suppose to know which one to take?


EDIT: And if you really can call bottoms this good, than you are not doing a very good job of utilizing it, because once again the markets are fractal, so if you can call the bottom on a larger time frame / long time period you can apply those same principals to smaller time frames / smaller time period.
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If you went to check my previous thread, i said that volatility was gonna come and we'd get a 30% crash. I said that i am not the one to call tops and that what makes mone is just blindly buying every breakout. I tried to short once or twice on very tight stops but i realized it's way too early and even myself i was like what am i doing should be just longing like an ape.

I can buy bottoms only if it is the bottom.. Right now i got out of my trade on trailing SL in meaningless profit, basically breakeven... Doesn't look too promising right now, but i will enter if i see something i'd like.

Yeah i guess bottom fishing doesn't pay, honestly i'd make much more had i just been scalping. I am a scalper by default though but i trade from weekly to minute charts.
 
I am glad there's some people here with some sanity. The thing some of you guys don't get is that even if you do catch the bottom, the probabilities that the rally holds without retracing a large part of the move and given what could be more of a proper entry is extremely low. You're trying to get one master trade right, instead of focusing on getting multiple trades right everyday. Seriously, what do you think is more realistic for consistency as a trader?

People on these boards including myself have given plenty of fundamental AND technical reasons to show that the probabilities say pops will continue to be faded(even if we do get 2-5 day rally, which we can't even manage that yet). I've yet to hear an equal sound argument for the lows, besides people GUESSING every day/week and HOPING they are right for bragging rights. I am sure one of you will guess right eventually, good luck.
 
The first big leg down in a bear market gives way to a multi day rally which lures in the FOMO/bottom pickers while the large players are selling into the rally.

This is what a text book bear flag looks like which is typical after big sell offs.
Purple line is 100 day VWAP - this is a magnet for program selling.
upload_2020-3-20_10-52-15.png
 
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