Market action is confirming the setup - ideally we gap down monday but its not required.
FWIW I am out on another mini vacation until Wednesday with no computer access, just in case I seem to have 'disappeared' :-)
Posted 23 June 2018 - 12:20 PM
Market action is confirming the setup - ideally we gap down monday but its not required.
FWIW I am out on another mini vacation until Wednesday with no computer access, just in case I seem to have 'disappeared' :-)
Posted 23 June 2018 - 12:35 PM
Posted 23 June 2018 - 01:09 PM
I am really torn.
I trust breadth a lot and it has been persistently good. However price is telling me the market is going lower.
From a structure standpoint this could be the E wave of a triangle or a C from Januarys Top.
I know you have a decline now until mid-upper 2600s then a big rally that fizzles and another down before an all time high.
Lets See.
Breadth is good but better I wd say for longer trend determination - it likely is saying we are not yet close to ATH time wise at least.
For shorter term though I don't really use it - my focus for trading is purely short term ( except for occasional long term position).
My Shorter term system ( hours to couple days) uses mainly the following: volatility, tick , price momentum, sentiment, liquidity,
only clear buy/sell signals battle tested in recent market. Of course, there is no holy grail, its just about quantifying risk/reward, and setup probabilities.
Yes, I have had this setup for run down to 2680'ish, then up to 2820'ish then it gets 'fuzzy' - however, that is a road map and if the signals agree, I stick with it,
but it they don't then I need a new one. If we take out 2800 above before 2740 below OR my signals change to buy before break of 2740, then i'll need new
setup road map, for now, its 'tracking' well.
Edited by Entropy3.0, 23 June 2018 - 01:09 PM.
Posted 25 June 2018 - 06:57 AM
Posted 26 June 2018 - 10:49 AM
Good call by sticking to it.
Did get below 2700.
I can see 1 more dip and then going all in lol
Posted 27 June 2018 - 01:45 PM
Good call by sticking to it.
Did get below 2700.
I can see 1 more dip and then going all in lol
Thx.
Posted 27 June 2018 - 01:47 PM
Market action is confirming the setup - ideally we gap down monday but its not required.
FWIW I am out on another mini vacation until Wednesday with no computer access, just in case I seem to have 'disappeared' :-)
We did gap down and run to 2700 and had a bounce since.
My system is still putting high odds 2680, and new pattern setups odds increasing for lower lows to 2640.
Posted 28 June 2018 - 12:10 PM
FYI - For those following this thread, note I started a new thread here:
http://www.traders-t...nt-st-road-map/
Edited by Entropy3.0, 28 June 2018 - 12:10 PM.