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16 hours ago, elle said:

noticed this on twitter

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Does this “Inner Practitioner” have a twitter mind reading certificate?

Am I jealous or angry that they received 931 likes for that post?

I reckon that maybe I am primarily just talking to myself.

  • Thought provoking 1
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This is an example of where I would have taken a trade on the four hour time frame (15 June).  Looking for a 2:1, stop is where the little box is and the big box is where the limit is.  As you can see the trade would still be open right now, nearly four weeks later.  (The other indices are pretty similar, except FTSE 100 - and I can understand why nobody would want to invest in BoJo's Britain.)

1675936600_Australia200_20200712_23_33.thumb.png.1cfdf71503a6f7d82279b2d60a8a698f.png

 

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And here it is on a five minute chart.  The 200 SMA is clearly useless because price moves up and down and crosses it constantly.   The same thing happens on daily charts of stocks.  Even buying when price > 200 daily SMA and selling when price < 200 daily SMA isn't particularly useful.  In fact, I can hardly spot any 'patterns' at all in daily stocks any more.

 

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Edited by dmedin
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At some stage in the near future Govt Covid aid payments to companies will come to an end and we will start to see just who and how many will actually survive the lockdown, the answer may come as something of a shock.

S&P looking to the monthly R1 and weekly chart resistance (red) 3233.

Dax and Dow H1 heading for the daily R1

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7 hours ago, dmedin said:

And here it is on a five minute chart.  The 200 SMA is clearly useless because price moves up and down and crosses it constantly.   The same thing happens on daily charts of stocks.  Even buying when price > 200 daily SMA and selling when price < 200 daily SMA isn't particularly useful.  In fact, I can hardly spot any 'patterns' at all in daily stocks any more.

why would you automatically assume that a 200 sma would be as relevant on a 5 min chart as it is on a daily? you need the experiment to see what ma might actually be being used on each time frame you look at. 

  • Great! 1
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On 07/07/2020 at 11:49, dmedin said:

Looks like we're got months of more-or-less sideways price action to look forward to, boys and girls.  Lots of false breakouts and money to be lost :) 

:)

 

Indices have just taken an absolutely incredible dump.

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Guest California lock down
43 minutes ago, dmedin said:

lol, who knows at this point.

Well California closed down all indoor operations. That is restaurants etc. Breaking news and market responded

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12 hours ago, Guest California lock down said:

Well California closed down all indoor operations. That is restaurants etc. Breaking news and market responded

Yea, I didn't see that until much later.  So much for the 'Twitteratti' being on the pulse.

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