2 replies to this topic

[hiker]

price bounce has moved to the d/t line on the 2.5 day and 3.5 day..what next? this may too simple for a short setup, but some will try it...with risk management just a few points above..could set up an even larger short squeeze or buy trigger move...time will tell see 200sma on 3 minute...price action has stalled there for now and 5sma is just trying to move above 200sma which if continues will be a confirmed buy signal on 3 min 15min on prelim buy with price and the 5sma in bullish cross of 15sma on 15min...15min 200sma is about 1508+ above btw, these MA's and use of 200sma is what is in Jea Yu's newest book..see pages 1 to 20 and 270's for why he uses these MA's and on what timeframes and how he adds the displaced 3 ema along with those above....www.undergroundtrader.com do not want to take credit for this system..it is what he teaches in a variety of ways...have been using it since last year. Mark...looks like ISRG precisely followed your script from two Saturday's ago...and is now back on the move up...

Edited by hiker, 30 July 2007 - 12:14 PM.

[hiker]

if trading SPX cash off the 3 minute chart...it continues to say stay long, even though the 5 and 15 min sma's are in whipsaw action in their crossovers...in any event those 2 sma's and price remain above the 200sma on the 3 minute..so depending on your other trading methods and risk tolerance staying long vs selling may consider the distance to the 200sma below for the 3 min vs. the distance to the 200sma above for the 15minute there is also the move above the near-term d/t line to consider for risk management or for the sell signal if a confirmed move below again develops I am also looking at the 10day 5minute chart and several d/t lines that are relevant to today's price action the 15 minute is not showing great conviction when looking at the current shape of the 5sma, and the powerful move seen in the relative distance between the 5 sma and 15sma may be only good for the short term....it needs to prove itself now....giving it some more time is up to the patient or careful trader right now, depending on your preference personally I am watching these two priorities in this order: for a move back below the failed d/t line..in this case it is up to the trader to choose the 3 min, 15 min or 60 min for this interpretation..and its importance to judging whipsaw vs. the leading move a move below intraday horizontal of 1465

Edited by hiker, 30 July 2007 - 01:54 PM.

[hiker]

60 min chart is now on a preliminary buy signal as defined by 5 sma bullish cross of 15sma..preliminary because price and the two ma's remain below the 200sma on the 60 min