14 replies to this topic

[SemiBizz]

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

[CLK]

http://stockcharts.c...1073&r=7774.png

[fib_1618]

Nasdaq Key Reversal Day

Sigh...this is NOT a key reversal bar, it's a simple outside range day.

There are very strict rules for this to be considered "key".

In any event, today's bar does suggest a down close on Thursday.

Fib

[BigBadBear]

Fib, The highfiving by the bears is becoming deafening. You would think the market is down 1000 points

[rkd80]

Fib,

The highfiving by the bears is becoming deafening. You would think the market is down 1000 points

BBB,

There is plenty of bullish sentiment on this board and it outweighs the bearish high-fiving. imo.

[selecto]

Fib, I guess it depends on which authority you like.
I like Edwards & MaGee, who hold as follows:



By the way, the last one of those on the Naz was in May; the next day was the leg closing low.

Edited by selecto, 20 June 2007 - 05:23 PM.

[fib_1618]

By the way, the last one of those on the Naz was in May; the next day was the leg closing low.

Yes, and though many thought that it was a "Key Reversal" at that time, it again turned out to be a simple outside range day...a short term (1 day) trend change indicator bar. Same thing in January too when I took the time to write a tutorial on the subject.

Everyone has to go with what they believe is correct. I just follow the rules that I've learned over the last 30+ years of trading and attempt to keep the majority from mistakenly believing what they think they see as fact, when in actuality, turns out to be a simple case of a knee jerk reaction to support an emotional bias.

Fib

[n83]

By the way, the last one of those on the Naz was in May; the next day was the leg closing low.

Yes, and though many thought that it was a "Key Reversal" at that time, it again turned out to be a simple outside range day...a short term (1 day) trend change indicator bar. Same thing in January too when I took the time to write a tutorial on the subject.

Everyone has to go with what they believe is correct. I just follow the rules that I've learned over the last 30+ years of trading and attempt to keep the majority from mistakenly believing what they think they see as fact, when in actuality, turns out to be a simple case of a knee jerk reaction to support an emotional bias.

Fib

wow..we are not worthy

see the definition posted..it says a bull market can have many such Key Reversal Days..a Key Reversal is not THE top..just a key high-gg

Disclosure: LONG!

[colion]

[quote name='fib_1618' date='Jun 20 2007, 06:52 PM' post='295070'] [quote]
Everyone has to go with what they believe is correct. I just follow the rules that I've learned over the last 30+ years of trading and attempt to keep the majority from mistakenly believing what they think they see as fact, when in actuality, turns out to be a simple case of a knee jerk reaction to support an emotional bias.

Fib



[/quote]



What are your rules?

[Mr Dev]

Nasdaq Key Reversal Day

Sigh...this is NOT a key reversal bar, it's a simple outside range day.

There are very strict rules for this to be considered "key".

In any event, today's bar does suggest a down close on Thursday.

Fib

I was also watching the outside day pattern near the close,...and thought to myself ...whats been following our

outside days have been.....inside days.... we'll have to see how she starts off tomorrow and take it from there.

oh and I was watching a OHLC chart not a candle chart that is obviously OFF !


And the min I say that.....it corrected itself hahahahaha

It can be what ever you want it to be but use other TA to determine if you think it is a KRD. Especially since the candle is filling a gap!
Nice seeing ya FiB

Edited by Mr Dev, 20 June 2007 - 10:20 PM.