My indicators are good !
Started by
NAV
, Jul 20 2007 03:30 PM
4 replies to this topic
#1
NAV
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Posted 20 July 2007 - 03:30 PM
ER2 was the only contract which made a proper hourly bottom today and turned up per my system rules. ES and NQ never bottomed as i posted below. NQ and ES took cue from ER2 and rallied in a dead cat bounce.
I did the right thing by buying the IWM calls and made profit on them. Although my system was screaming no bottom on NQ, i took a position on a fake momentum upturn and took a 5 point loss. Talk about human emotions !
I think Monday, there should be another good flush to clear those who picked the bottom today and create a traedable bottom. By then, my 120-min should also be in a nice oversold area. After that, SLINGSHOT III, maybe....
#2
ogm
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Posted 20 July 2007 - 03:50 PM
Trust your indicators 
Now.... I'm assuming that after today's close your SPX daily is apparently on sell now. So are you supposed to take the sell signals on 60 min charts, or still buy the dips ?
How does the system work ? 
Or is it in a permanent Slingshot mode, or Scorch, or whatever else its called ?
Now.... I'm assuming that after today's close your SPX daily is apparently on sell now. So are you supposed to take the sell signals on 60 min charts, or still buy the dips ?
How does the system work ?
Or is it in a permanent Slingshot mode, or Scorch, or whatever else its called ?
Edited by ogm, 20 July 2007 - 03:53 PM.
#3
NAV
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Posted 20 July 2007 - 10:18 PM
Trust your indicators
I always do. But then, every now and then, we all do something stupid.
Now.... I'm assuming that after today's close your SPX daily is apparently on sell now. So are you supposed to take the sell signals on 60 min charts, or still buy the dips ?
How does the system work ?
If i get a continuation sell on the hourly, i will most certainly take it. Surprisingly, my daily did not flip into a sell. Weekly is still strong and up. I will post some charts this weekend.
Or is it in a permanent Slingshot mode, or Scorch, or whatever else its called ?
It's a Bull market ogm.
Edited by NAV, 20 July 2007 - 10:19 PM.
#4
traderpaul
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Posted 21 July 2007 - 10:24 AM
NAV, we all do it.....If you didn't like the looks of the 5 min chart, you switched to 60 min chart.....then daily, weekly and yearly chart.....Ahh....That sure looks good.....
"Inflation is taking place now. Prices may not appear to be rising because they are making packaging smaller. "— Rickoshay
#5
atlasshrugged
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Posted 21 July 2007 - 02:50 PM
NAV, we all do it.....If you didn't like the looks of the 5 min chart, you switched to 60 min chart.....then daily, weekly and yearly chart.....Ahh....That sure looks good.....
i have three monitors so that i can have all time frames up simultaneously and then give the most significance to the weekly, daily, 180, 60 min, 10min, 1 min
