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So going off this hideous chart, why would anyone have been going long after Mon 8th/Tues 9th?  Because you trade upswings on lower timeframes?  What kind of trend is that, anyway?  Isn't it just going sideways?

The lines and indicators aren't telling me anything that I can't already see.

Confused.

No wonder so many people lose money.

 

140564827_WallStreet_20200624_16_47.thumb.png.365d5a43cec71018f432ca64d121ad43.png

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Maybe the 50 day SMA will provide support again?

DJI-Daily.thumb.png.ed5668948ddf2aaf392be96c695c74a0.png

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A nice wee drop to 24000 would be good for my coffers, Erika Badu 😘

DJI-Daily.thumb.png.4251d6f6889528b43f6e94ace78f012c.png

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S&P Daily sitting on support at 3038.

Dax and Dow H1 stuck at the low from yesterday afternoon.

image.thumb.png.b37b98c9d11a0009c2ed401acb2fe87f.png

image.thumb.png.6f847c2f9a97c9a103dd12a68774cb2e.png

 

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Posted (edited)
23 hours ago, Guest Just Me said:

I suspect many trading possibly look a bit more in depth

Fundamental analysis?

Elliot Waves?

Or analysing charts with the power of hindsight?

Edited by dmedin

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46 minutes ago, Caseynotes said:

Dax and Dow H1;

It's all higgledy-piggledy bonnie loon :( 

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23 hours ago, Guest Just Me said:

But hey, that's just me and perhaps that's what traders do and perhaps I need to study 'dumps' and 'erections' far more to become a successful trader. 

So what are you studying that makes you successful?

Stuff on Dailyfx?  'Here are a dozen lines; price may do this or it may do that.  If it does do that then it may do this; or it may not.  And if it does this then maybe this will happen, or maybe that.  And  by the way, 62% of IG's clients are long and they are a bunch of idiots who lose all their money.'

How is that working out for you?

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Unemployment claims were slightly more than expected.

But Chris Beauchamp was probably right yesterday, there won't be another dramatic drop.  ;)

 

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Guest Just Me
1 hour ago, dmedin said:

So what are you studying that makes you successful?

I'm not successful.

1 hour ago, dmedin said:

So what are you studying that makes you successful?

You.

1 hour ago, dmedin said:

How is that working out for you?

Not good.😄

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31 minutes ago, Caseynotes said:

Why levels are so important for trading.

image.thumb.png.5be99d410d171e80c5a7a0ee4483c25b.png

 

 

That looks great although I don't know what that alternating-coloured line is.

On IG's 1 min chart you can see it bouncing off daily pivots, PRT lets you have hourly, four hourly pivots etc.

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Doesn't work when I try it.

Must be doing something wrong.

I mean ... if all you're doing is buying and selling bounces off pivots then why even have 'indicators'?

It's like all these hideous f*king charts plastered with sh!te to make the 'analyst' look like they know what they're talking about.

And the punters (who are a bunch of losers, mainly) lap it up and ask for more.

I am both confused, and stupid - I know that I know nothing.  What?

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Posted (edited)

Well here's a conundrum.  It looks like it was just another 'wee dip' in the DJIA, but most IG clients are long.  

2097637730_WallStreet_20200625_15_22.thumb.png.a97aedfc5625bebf8d0280d40ee6b1f6.png

So, what do I do in the here and now?

Not, like Chris Beauchamp, smugly look back months from now with his awesome powers of hindsight and say that most IG clients were dumb losers.

 

ANSWER: Don't go long or short.

JUST DON'T TRADE!

Edited by dmedin

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45 minutes ago, Guest Just Me said:

I'm not successful.

You.

Not good.😄

🤓😂

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PSAR and MACD (PSAR is for confirmation and use as a trailing stop) with 200 SMA as filter.

At the moment, no trades advised. 🥴

2125760714_WallStreet_20200625_16_33.thumb.png.1f7a3ec292e51a2c2f3dc0062999bc0d.png

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Posted (edited)

5 and 20 with RSI gave a sell signal though.

No 200 SMA filter used.

When using the RSI you have to be prepared to through your crossover rule out the window when you see a divergence followed by a big candle penetrating the 5 SMA 🤯

1461944186_WallStreet_20200625_16_50.thumb.png.b2e0a27654ccc09d1ef6480c272bb939.png

Edited by dmedin

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This would have been a good trade, Erika Badu.  💃 See, I am awesome at backtrading 🤓

2029828843_WallStreet_20200625_17_13.thumb.png.7e9e35ab150a4148521c3c6f30327aea.png

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Dax is approaching 'buy' signal, and the good news is most IG clients are short 😁

1966486888_Germany30_20200625_17.18(1).thumb.png.97f18a3fb0f389df18b1aeb5c42ffa5d.png

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Well, that was another unproductive and unprofitable day :)

Here's to tomorrow!

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Veronica!  The DJIA just managed to achieve an erection 🐮

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Posted (edited)

What do you think, Samwise Gamgee?  And how about it, Peregrin Took?

Edited by dmedin

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16 hours ago, dmedin said:

That looks great although I don't know what that alternating-coloured line is.

That is just an on-chart stochastic (smoothed) instead of it being in a sub window.

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Zut alors, Peregrin Took 😀

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Nasdaq 240 min

Struggling with 10K

Nasdaq 240 min.png

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17 hours ago, Kodiak said:

Nasdaq 240 min

Struggling with 10K

Interesting insight into Nasdaq's repeating 5% corrections near the end of the vid 'understanding auction imbalances' just posted in Technical Analysis thread.

image.thumb.png.43ae5c7fd9fb8f685976e8f263b963ef.png

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