11 replies to this topic

[Chilidawgz]

I trade daily/four hour charts. I am  neither a bull or bear. Only trend on a shorter time frame matters to me.

 

 

[pdx5]

Please make it easy for me.
Up or down today?

[Chilidawgz]

Please make it easy for me.
Up or down today?

My style is not like that. I don't day trade. I trade trends which last several days to maybe a week or several depending on what price does. The charts show that I sold Dec 7 and Tuesdays chart, the second one, shows confirmation of the sell signal. Whether Wednesday's price goes up or down, my system shows we are in a downtrend. My sell moved my stock portion to cash, Currently, I am short treasuries using TBF.

 

Edited by Chilidawgz, 22 February 2023 - 06:20 AM.

[pdx5]

Thanks for the explanation.
I sold all of my tax deferred (IRA & annuities) longs at end of January and planning to sell the remaining cash account this week on a up day (if there is one haha)

Usually I prefer to hold for 12 months to get lower tax rate, but i am getting nervous fighting the FED.

Edited by pdx5, 22 February 2023 - 08:40 AM.

[K Wave]

Yep, but bulls still have multiple support areas on various time frames just below 4K on SPX...

 

IF bears get through those as well.....then trouble likely....

 

4K, 3795, 3950, and 3900 all have to be taken out to flip things fully bearish.

 

Always tricky when you have out of sync time frames....but bears took a potentially huge first step yesterday...

 

For bearishly inclined, you would want to see a big break in the Utes for a big clue, as they lead at this stage in a bear market.

[skott]

I trade daily/four hour charts. I am  neither a bull or bear. Only trend on a shorter time frame matters to me.

 

 

 

 

So why did you make the initial sell? It doesn't look like your EMA had crossed below yet

Edited by skott, 22 February 2023 - 01:00 PM.

[Chilidawgz]

Oh my, never post late at night: The charts show that I sold Dec 7.

I meant I sold on Feb 7. The PPO signal line triggered and the RSI had reached overbought.

[Chilidawgz]

Thanks for the explanation.
I sold all of my tax deferred (IRA & annuities) longs at end of January and planning to sell the remaining cash account this week on a up day (if there is one haha)

Usually I prefer to hold for 12 months to get lower tax rate, but i am getting nervous fighting the FED.

That's the beauty of trading in a tax differed account, no tax consequences.

[Chilidawgz]

"So why did you make the initial sell? It doesn't look like your EMA had crossed below yet"

 

My system uses the PPO crossover with the RSI as it's main trading signal. EMA's just show a general trend but they are not useful for my trading.

[K Wave]

Yep, but bulls still have multiple support areas on various time frames just below 4K on SPX...

 

IF bears get through those as well.....then trouble likely....

 

4K, 3795, 3950, and 3900 all have to be taken out to flip things fully bearish.

 

Always tricky when you have out of sync time frames....but bears took a potentially huge first step yesterday...

 

For bearishly inclined, you would want to see a big break in the Utes for a big clue, as they lead at this stage in a bear market.

Utes doing what they need to here today....now bears lookin' for HARD DOWN soon.