10 replies to this topic

[iloli way]

What a difference a '60-minute' made?! In that two 30 min candle sticks, price broke through three Primary Lines, and one Local Line. I am glad Ms. Market had finally made up her mind. Like I said the overhead pressure is also strong, turned out to be stronger than support, triggered panic profit taking sell-off along with my stop and moved me in cash accordingly. Percentage of the 3rd bull-flag to play out had also smashed to zero. Now, only breakout over the Primary Lines converging area again, OR breakdown of the bottom three lines(esp. the last Primary Light Blue line), will initiate a new long or short signal; otherwise, stay in cash as long as price staying in the cash zone. Until the last support - the Light BLUE line - is broken, the March bull trend is still standing in my book. Just an update of my LOL (Laws Of Line) trading system.
[attachment=13351:vst25.GIF]

[jjc]

One of the many rules burned into my brain: The third occurance of anything should be approached with extreme caution.

[inamosa]

One of the many rules burned into my brain: The third occurance of anything should be approached with extreme caution.

Good rule. I like that.

[Not Too Swift]

It is a product of western culture and logic. The first two occurrences set the pattern and the third confirms or denies. That is why we have three little pigs, three bears, and three strikes and you're out -- or not. Alan Dundes wrote a folklore article on the magic number three about thirty years ago, if you want to read more about it. If you were a Native American, you would likely use the number four instead.

[iloli way]

One of the many rules burned into my brain: The third occurance of anything should be approached with extreme caution.

"If does, I'll copyright my system LOL". That qualifies as "extreme caution" in my standard.

Folks, hope I'm not detecting a sense of sorrow or sympathy, I'll appreciate one when I need it. Let me make it clear:

I am closing longs with BIG profits built over times, all stated in my past posts; not a stop loss order.

This title is vs. my yesterday's title: "Not So Fast, no harm done so far", "harm" was referring to the bull trend, not my personal account.

[iloli way]

It is a product of western culture and logic. The first two occurrences set the pattern and the third confirms or denies.

That is why we have three little pigs, three bears, and three strikes and you're out -- or not.

Alan Dundes wrote a folklore article on the magic number three about thirty years ago, if you want to read more about it.

If you were a Native American, you would likely use the number four instead.

To me "Third is a charm" means hard to get.

Three is pretty important number worldly. "Heaven, Earth, and In-between" are big fundamental idea in Chinese culture. "Three legged Din" a principle to make any object stand up freely. So called "Adam, Eve, and Son(Daughter?)" is everyone's origin, that is so vague, don't you think? "Earth, wind and fire"? "Positive, negative and neutral". "Fateher, Son, and Holy Spirit" the "Trinity". "Executive, Legislative, and Judiciary". "Tax, Death and Us"...........I gotta stop.

[iloli way]

Bull flag is only one of the set-up. One set-up failed does not mean the bull trend is over. It's been hurt, but you look at the RED and Light GREEN lines below today's close in my first chart, they are all the same support lines of the previous two lows; and until they break down this time, we just can't rule out another bounce that may bring another thrust. But for an IT older bull, I just don't want to be greedy at the last bit of grease that the 3rd bull flag potentially would have but failed to bring to erode my profit.

[jack]

It is a product of western culture and logic. The first two occurrences set the pattern and the third confirms or denies.

That is why we have three little pigs, three bears, and three strikes and you're out -- or not.

Alan Dundes wrote a folklore article on the magic number three about thirty years ago, if you want to read more about it.

If you were a Native American, you would likely use the number four instead.

I will be looking for that article, thanks
Seven seas that run high

[iloli way]

See the Light GREEN Line bounce I was talking about? No doubt the market just opened less than 30 min now, but the rebound is impressive. Early bears covered, let's see any follow thru at close of another JOB Friday. [attachment=13356:vst26.GIF]

[Not Too Swift]

The Dundes article appears to be here in its entirety:

http://www.threes.co...m...15&Itemid=2

He lists more threes than you will want to know. But the effect is convincing.