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Trading times for Friday
- Thread starter Walther
- Start date
Quote from Woody:
I don't recall seeing this in his posts, but it looks to me that he is trying to predict times when the market will turn. So if you see a swing high at 11:35 you would go short. This is only my casual observation, so I may be totally wrong.
Thank You,
You are absolutely right and you have a common sense ,which is as you can see in very short supply on this forum .
if you TA tells you to go somewhere around posted time, do it with small stops and chances are you will be 80% correct. You have to pick trades and take just those which are clearly defined by your method. Posted times give you completely unrelated time signal as a means of additional confirmation.
Thanks,
Walter
Quote from Walther:
11:35 and 12:10 EST See how this new method works in a dead period of the trading day.
Walter
My favorite times for reversals are 11:30 and 12:45. Today the reversals took place at 11:30 (the peak) and 12:50 (the bottom).
Things like that happen more often than most realize, they simply reflect chart symmetries.
Quote from Woody:
I don't recall seeing this in his posts, but it looks to me that he is trying to predict times when the market will turn. So if you see a swing high at 11:35 you would go short. This is only my casual observation, so I may be totally wrong.
Well, that's the only way to understand it and that's the way I understand it. I also use times like that in my market analysis, but I simply look at three moments during the day only: 11:30, 12:45, 14:00-14:30.
Quote from Walther:
Are you telling me that you could not make up your mind on direction of trade at 11:35est ?
If that is the case , you have lot to learn.
If not, explain your ambiguous question.
Did you missed a boat at 11:35 at daily high ?
Walter
Ambiguous because ON THIS THREAD you didn't say which way the market would go.
As for the rational, you posted it already (but after I'd asked).
The second major bottom today was formed between 14:00 and 14:30 as if to confirm what I said above, but I mentioned these times long time ago in some thread started by Walther.
Some people tend to skip the midday period, but by doing so they can miss beginnings of bigger intraday trends. Of course, the midday tends to be pretty choppy too, so it's not necessarily a bad idea to stay on the sidelines.
Some people tend to skip the midday period, but by doing so they can miss beginnings of bigger intraday trends. Of course, the midday tends to be pretty choppy too, so it's not necessarily a bad idea to stay on the sidelines.