35 replies to this topic

[CLK]

Price Follows Breadth-Even Kings Shall Bow

Sure it does. The NYMO crossover you have shown on the chart and per the last discussion we had, price was around SPX 1350. Would you tell us how you managed the 75 point drawdown (from 1350 to 1425) while the king breadth was leading ?

BTW "Pure Price" based system took zero drawdown and gave a sell at 1386 as i posted last week.

Looks like he may be using a close under the ema as a trigger, if that's the case he may have incured
one 20 point stop out in March. Not bad.

Edited by CLK, 11 April 2012 - 04:57 AM.

[alexthered]

Price Follows Breadth-Even Kings Shall Bow

Sure it does. The NYMO crossover you have shown on the chart and per the last discussion we had, price was around SPX 1350. Would you tell us how you managed the 75 point drawdown (from 1350 to 1425) while the king breadth was leading ?

BTW "Pure Price" based system took zero drawdown and gave a sell at 1386 as i posted last week.

With all due respect, the "Pure Price" based system did not give you a short entry either, because you were waiting for a rally to short which did not happen, as far as I know. Many thanks for the heads-up nonetheless.

[NAV]

Price Follows Breadth-Even Kings Shall Bow

Sure it does. The NYMO crossover you have shown on the chart and per the last discussion we had, price was around SPX 1350. Would you tell us how you managed the 75 point drawdown (from 1350 to 1425) while the king breadth was leading ?

BTW "Pure Price" based system took zero drawdown and gave a sell at 1386 as i posted last week.

With all due respect, the "Pure Price" based system did not give you a short entry either, because you were waiting for a rally to short which did not happen, as far as I know. Many thanks for the heads-up nonetheless.

How do you know that ? I trade 3 markets and make 60 trades in a month. Do you know all my trades ?

And what makes you say that a retrace did not happen after the pivot break ?

Edited by NAV, 11 April 2012 - 06:46 AM.

[alexthered]

Price Follows Breadth-Even Kings Shall Bow

Sure it does. The NYMO crossover you have shown on the chart and per the last discussion we had, price was around SPX 1350. Would you tell us how you managed the 75 point drawdown (from 1350 to 1425) while the king breadth was leading ?

BTW "Pure Price" based system took zero drawdown and gave a sell at 1386 as i posted last week.

With all due respect, the "Pure Price" based system did not give you a short entry either, because you were waiting for a rally to short which did not happen, as far as I know. Many thanks for the heads-up nonetheless.

How do you know that ? I trade 3 markets and make 60 trades in a month. Do you know all my trades ?

And what makes you say that a retrace did not happen after the pivot break ?

$SPX opened with a gap down below your 1386 pivot Monday. It only rallied to 1387 before falling rapidly to yesterday's low. You said "I have stated this many times before and shown a few hundred trades in real-time here. I neither buy breakouts nor breakdowns. In other words, i don't buy at the tops and sell at the bottoms. Break of 1386 will change the hourly trend to down. Once a trend turn happens, i wait for the first retrace and failure to enter. Typically retracement failures on SPX hourly gives a stop of 5-10 points. With the current levels of volatility most trades on hourly can be managed with a 5-6 point stop."

Since there was no first retrace and failure (unless you count a 1 pt rally above 1386 as a retrace) and you don't enter on a break, I did not anticipate you had a position and if I am wrong, sorry about that. My assumption was based on your comments earlier. My comment was only for this particular time. I am sure that you used the Pure Price system well in other instances and in other markets.

http://www.traders-t...?...st&p=618331

Edited by alexthered, 11 April 2012 - 08:17 AM.

[SemiBizz]

The obvious resistance here is 1370. 1370 not just because that was the "old high", but because of 08/16/2007... low 1370. This is truly the gateway price here so we should see a battle.

http://bigcharts.mar...&mocktick=1.gif


More on August 16, 2007 here

[NAV]

Since there was no first retrace and failure (unless you count a 1 pt rally above 1386 as a retrace) and you don't enter on a break, I did not anticipate you had a position and if I am wrong, sorry about that. My assumption was based on your comments earlier. My comment was only for this particular time. I am sure that you used the Pure Price system well in other instances and in other markets.

Alex,

Just to be clear i am talking about cash SPX, not the ES. SPX gapped down, broke the pivot and traded up to 1378 and made a intraday low there. Then it rallied and retraced to 1387, which is a 9 point retrace from the bottom. I am not sure what is this 1 point rally you are talking about. And that retrace failed and gave me a sell @ 1383 per my system. Anyway i don't like to talk about trades that i don't post here on the board. I am just telling you how the method works, since you asked.

Edited by NAV, 11 April 2012 - 09:11 AM.

[TTrader47]

Alex, Just to be clear i am talking about cash SPX, not the ES. SPX gapped down, broke the pivot and traded up to 1378 and made a intraday low there. Then it rallied and retraced to 1387, which is a 9 point retrace from the bottom. I am not sure what is this 1 point rally you are talking about. And that retrace failed and gave me a sell @ 1383 per my system. Anyway i don't like to talk about trades that i don't post here on the board. I am just telling you how the method works, since you asked. [/quote] How does your "price based system" work? vs. breadth?

[IYB]

Price Follows Breadth-Even Kings Shall Bow

Sure it does. The NYMO crossover you have shown on the chart and per the last discussion we had, price was around SPX 1350. Would you tell us how you managed the 75 point drawdown (from 1350 to 1425) while the king breadth was leading ?

BTW "Pure Price" based system took zero drawdown and gave a sell at 1386 as i posted last week.

NAV- The NYMO crossover is just one of Seven Sentinels. A trading signal is NOT generated when one Sentinel crosses...it takes ALL SEVEN. I'm not here to argue. In fact, the surer that traders are that breadth does NOT lead price - the better it is for the SS's and for me... so that to convince them otherwise would be counter productive.

Continued success to you. I've always greatly admired and respected your work. D

[IndexTrader]

I think Alex makes a good point. At best, your comments about your price-based system were confusing. Your system gives a sell, but whether you take it or not depends on a "retrace", and then a failure of that retrace, both of which are undefined, and neither of which did you post at the time. I didn't think you had sold either, at least based on what you had said. As you yourself have said, the devil is in the details. This "price follows internals" stuff that you mentioned is a case in point ie the pesky detail of that severe drawdown before price followed. IT

[IndexTrader]

Price Follows Breadth-Even Kings Shall Bow

Sure it does. The NYMO crossover you have shown on the chart and per the last discussion we had, price was around SPX 1350. Would you tell us how you managed the 75 point drawdown (from 1350 to 1425) while the king breadth was leading ?

BTW "Pure Price" based system took zero drawdown and gave a sell at 1386 as i posted last week.

NAV- The NYMO crossover is just one of Seven Sentinels. A trading signal is NOT generated when one Sentinel crosses...it takes ALL SEVEN. I'm not here to argue. In fact, the surer that traders are that breadth does NOT lead price - the better it is for the SS's and for me... so that to convince them otherwise would be counter productive.

Continued success to you. I've always greatly admired and respected your work. D

Don: Your results on C2 reflect a large drawdown recently. I don't know what your Seven Sentinels were doing at the time. Did you short before your sentinels gave a signal?

IT