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Nasdaq Bounce to 6269

Short term Upside Tgt

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#11 SemiBizz

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Posted 22 August 2017 - 09:28 AM

The volume dried up yesterday, should see a strong bounce...

 

 

 

6269 Volume Resistance ...

 

Close to .50R and we have confluence there...

 

 

 

Looking for signs of price rejection and we don't see it... better odds of course at .618, around 6300...

 

See if we can get odds for a trade somewhere...

 

Confirmed by volume/price action.

 

No trades yet.


Edited by SemiBizz, 22 August 2017 - 09:29 AM.

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Volume is the only vote that matters... the ultimate sentiment poll.

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#12 SemiBizz

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Posted 22 August 2017 - 09:45 AM

I see a lot of breath and bandwidth passionalely dedicated to "UP" or "DOWN" every day on this board.

 

I don't see many that can quantify it...

 

OK Up, Down... WHERE (specific PRICE) ?

 

I mean anybody else care to stick their neck out...?

 

 

To me up or down is all relative...

 

To some people the market is always UP, no matter where it is on a daily basis...

 

For me, it's only a flight plan, knowing the next move, specific price destination.

 

 

Up or Down, I could really care, I just want to know where prices are going so I can act accordingly.

 

We also have some "TA Deniers" on this board, who don't believe prices can be forecasted.

 

Who don't believe in price prediction...

 

Because they have tried everything and it didn't work for them, so there can't be anything out there that works for us...

 

Well, check out my price targets... they hit with regularity.


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics


#13 SemiBizz

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Posted 22 August 2017 - 09:48 AM

Nasdaq hit 6269 and hasn't moved for 30 minutes...

 

That is a consolidation at the target, not a price rejection... yet.


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics


#14 SemiBizz

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Posted 22 August 2017 - 10:04 AM

6281 last resistance before 630X test.


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics


#15 NAV

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Posted 22 August 2017 - 10:17 AM

This is where you go wrong with PRICE-BASED methodology...

 

Some guys got their SELL triggered on price..

 

We had it a long time ago on VOLUME basis...

 

And because we saw that volume dry up...

 

We're out here watching the runup...

 

6268.28...

 

Getting closer

 

A further blowoff would take us 50 points higher...

 

 

You got no clue about trading price and trends. Stick to what you know and understand, which is daytrading. Did your volume catch the entire Trump rally ? I know my price-based trending system did. My system has been IT long for last 6 months on the SPX. I am not a IT trader, but i traded pretty much every dip on a ST basis and milked the entire rally. 

 

If you want to learn a bit, i can explain. An IT sell has been triggered using various approaches (not just my method). An IT sell is a higher timeframe sell. Just because a sell is triggered on a higher timeframe does not mean you enter a trade right away. IT sell establishes the context. Now you switch to your lower TF (could be 15-min or 5-min), wait for a bounce and failure to initiate a short. Not just blindly pull the trigger anywhere and everywhere you feel like. Don't automatically assume trade of others that they have not posted. If i would pull the trigger based on oversold or overbought or some funny numbers, i would not have put in countless hours to build a system. BTW, I have not done a single trade since Aug 10, when my trailing STOP on longs got hit.

 

Today we got the bounce after the IT sell. If we get a failure, i will initiate a short trade either today or tomorrow based on when i get the setup. This will be my first long in a long time.

 

P.S - I have stopped trading the VST signals against the IT trend. I now only trade in the direction of the IT trend.


Edited by NAV, 22 August 2017 - 10:23 AM.

"It's not the knowing that is difficult, but the doing"

 

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#16 SemiBizz

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Posted 22 August 2017 - 10:28 AM

I don't take drawdowns, and I'm not a captive of the crooks who steal your money overnight...

 

I have FREEDOM....

 

Your system just went to SELL, mine went to sell at the high on the reversal on volume on 7/27 at the 6460 high on the Nasdaq

 

That SELL was confirmed at the close of 6370, just under the 3.618X Fibonacci on 08/08, documented in great detail on this site...

 

Nasdaq did not close over 6370 since, I outlined the 6193 Fib and Volume support target, which was tested on Friday, within 8 cts.

 

You can't trade the way I do, so take your drawdowns, and let them fleece you overnight.

 

I don't have to.


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics


#17 SemiBizz

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Posted 22 August 2017 - 10:32 AM

6281 last resistance before 630X test.

 

OK JUMPS THE CREEK... should see 6281 consolidation ahead of next move... still looking UP.


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics


#18 redfoliage2

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Posted 22 August 2017 - 10:32 AM

This looks a classic reversal.  Let's see how much higher it will go.  I see 6350 is a minimum .............


Edited by redfoliage2, 22 August 2017 - 10:33 AM.


#19 SemiBizz

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Posted 22 August 2017 - 10:34 AM

I've seen enough, this is supposed to be a "Fearless Forecasters" T.A. site, you allow TA deniers like NAV to come on here and piss all over people's work.

 

There's no respect given.

 

I'm done here.

 

Anyone who is interested in my work can pay for it...

 

I'm done.


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics


#20 NAV

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Posted 22 August 2017 - 10:38 AM

I've seen enough, this is supposed to be a "Fearless Forecasters" T.A. site, you allow TA deniers like NAV to come on here and piss all over people's work.

 

There's no respect given.

 

I'm done here.

 

Anyone who is interested in my work can pay for it...

 

I'm done.

 

 

TA Denier ? No i am not. I use TA everyday.

 

How about this ? You talk about numbers. I will post my trades real-time with entry, exit and stop. Can you do the same ? Not some Fib numbers and waypoints. You get that free on charts. Real-time trades, i mean. Are you game ?

 

You are the one who start the pissing contest everytime, ridicule others and show how omnipotent you and your methods are.  And then act like a victim and run away. You will come back. Seen this drama for 10+ years on this board. 


Edited by NAV, 22 August 2017 - 10:42 AM.

"It's not the knowing that is difficult, but the doing"

 

https://twitter.com/Trader_NAV