What creates spikes?

Might of been said already (a couple of times), but seeing how this is the Naz traders naturally watch Apple, Google, Intel etc etc as well what the S&P, Dow, Russell are doing so when spike happened mid day - without major news - and the indexes probably not following suit they know it was a false break to be bought.
 
This idea makes a lot of sense, and I too have been glancing over at the ES seeing as Db keeps showing that the NQ can often trail the ES.

And you're the first one to say it here actually! :)
 
Naz Measured Move.png
Measured move - 100% projection of A and 161.8% retracement of B

Edit: forgot to include in the pic but guess where 100% time projection of A lands? Right on bottom pivot. 138.2% time retracement of B 5 bars later.
 
Last edited:
k p said:
I'd love to watch one of these guys too! :) But nobody is offering. :(
More...

Best bet might be to visit a prop floor. Could be worth the road trip. There aren't really any up here but I'm sure they can be found in more places than just Chicago and New York... Or actually joining such a firm for a while might be the closest thing to an actual apprenticeship under a good mentor. Can't justify the ordeal and expense personally, but I've seen it recommended several times.
 
You must log in or register to reply here.
Back
Top