Trading with Fractals

Prof -

Do you think the probabilities of the equity market suggest a rally over the next few days?

I'd call this little pop at the open a long squeeze - just as we've seen these last few days. The meaningful intraday moves have been to the downside recently.

I don't believe the sort of moves shown in the chart happen on a dime so to speak.

Be long and (very) lucky!!

ST
 
Quote from StreamlineTrade:

Prof -

Do you think the probabilities of the equity market suggest a rally over the next few days?

I'd call this little pop at the open a long squeeze - just as we've seen these last few days. The meaningful intraday moves have been to the downside recently.

I don't believe the sort of moves shown in the chart happen on a dime so to speak.

Be long and (very) lucky!!

ST
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I've posted a bit of a longer term chart (my position chart) of the same swing information Fractalist posted. I see the potential of a long term top setting up in this area but nothing, IMHO, has confirmed yet.

There are many ways to view a chart but once a trader finds a way to read that chart with consistency, he needs to marry that ability. Consistent profitability is achieved from consistent successes. I learned a long time ago that pattern recognition is only as good as the chart they are viewed on and I need natural oscillations and bars to see consistent support and resistance to make my trading decisions. Similar or close or seems or I think or maybe or I believe or I hope or could be are all words and terms that I feel have no business in a traders decision vocabulary.
 

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Quote from ProfLogic:



There are many ways to view a chart but once a trader finds a way to read that chart with consistency, he needs to marry that ability.
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Words of wisdom!

LOL
 
I just shorted.

I'm not sure I buy this stuff, pretty as those charts may be, but the price action is driving me to the exact same conclusion - a trip to 1030 in 2-3 weeks.
 
Quote from ProfLogic:

I've posted a bit of a longer term chart (my position chart) of the same swing information Fractalist posted. I see the potential of a long term top setting up in this area but nothing, IMHO, has confirmed yet.

There are many ways to view a chart but once a trader finds a way to read that chart with consistency, he needs to marry that ability. Consistent profitability is achieved from consistent successes. I learned a long time ago that pattern recognition is only as good as the chart they are viewed on and I need natural oscillations and bars to see consistent support and resistance to make my trading decisions. Similar or close or seems or I think or maybe or I believe or I hope or could be are all words and terms that I feel have no business in a traders decision vocabulary.
More...

Guilty until proven innocent on here ;). I'll take back what I said.
 
Quote from The Big D:

I just shorted.

I'm not sure I buy this stuff, pretty as those charts may be, but the price action is driving me to the exact same conclusion - a trip to 1030 in 2-3 weeks.
More...

It's a matter of days not weeks...
 
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