Jump to content

Recommended Posts

26 minutes ago, dmedin said:

How about practicing Elliot Wave?  

I can see the usefulness of listening to someone with experience in price action and chart structure on a five minute chart, but I doubt Elliot Wave would be useful. I will brave the idiosyncratic lingo of Al Brooks.

Share this post


Link to post
3 minutes ago, AndrewS said:

I can see the usefulness of listening to someone with experience in price action and chart structure on a five minute chart, but I doubt Elliot Wave would be useful. I will brave the idiosyncratic lingo of Al Brooks.

 

Well good luck with that, five minute charts are no use to me.

Share this post


Link to post
6 minutes ago, dmedin said:

 

Well good luck with that, five minute charts are no use to me.

Look at it another way. If someone can’t spot something on a five minute time frame (and the type of analysis is useful for longer time frames) how good are they really?

  • Like 1

Share this post


Link to post
8 hours ago, AndrewS said:

Look at it another way. If someone can’t spot something on a five minute time frame (and the type of analysis is useful for longer time frames) how good are they really?

 

Is your 'Al Brooks' good?  And if so, why's he spending his time teaching and not trading on the five minute charts?

Share this post


Link to post
Posted (edited)
8 hours ago, dmedin said:

 

Is your 'Al Brooks' good?  And if so, why's he spending his time teaching and not trading on the five minute charts?

I am not going to answer that, except to say that I have seen some of his videos and am confident I can benefit from seeing more.

There is also Bob Volman’s “Understanding Price Action: practical analysis of the 5-minute time frame”.  There is a lot of free introductory  videos posted here that look alright to me, but I don’t think I have much to learn from.

One of the difficulties beginners have is they can’t tell what they may not benefit from and is probably ****, hence all the You Tube advertisements I am getting while watching Brian Watt’s videos.

I got censored. 😀

Edited by AndrewS
  • Great! 1

Share this post


Link to post
Posted (edited)

I'm not sure how or why, if you've already been profitable 1700 out of 1900 times.

A lot of TA education is cherry picking and showing you the awesome power of hindsight and isn't useful at all for trying to trade.

I imagine it's good money though, as you have lots of desperate and gullible people paying you money to receive 'training'.

Edited by dmedin

Share this post


Link to post

FTSE 100 - now something like 53% of IG clients short, just a little while ago is was 60%+ long.  See how people get stopped out when it makes a false break down.  If they were looking at higher time frames and keeping deeper stops they would stay in their trades and make money.

969237560_FTSE100_20200720_07_38.thumb.png.a4411155ab036557c96ad266ff8f1bb4.png

Share this post


Link to post
Posted (edited)

Great start to the week, indices selling off heavily :)

 

Edited by dmedin

Share this post


Link to post

Have the Great Chieftains of the EU reached a deal?

689249832_Germany30_20200720_10_04.thumb.png.d78950c9bf2dd1d668592582090b436d.png

Share this post


Link to post
Posted (edited)

@Caseynotes is on holiday?  Or withholding his presence as a punishment? 😲

Edited by dmedin

Share this post


Link to post
Posted (edited)

The Dax has broken through the 88.6% retracement level, next target is 100% :D 😻😘

742423319_Germany30_20200721_09_16.thumb.png.99b8a8824b62200b9fee8d1851985e6b.png

Edited by dmedin

Share this post


Link to post

Next target for the Nasdaq is 11400 😘 😘 😘😻

2024838779_USTech100_20200721_09.18(1).thumb.png.fe72166e4f3aa52c4ebe13f3cdf6fb19.png

Share this post


Link to post
On 18/07/2020 at 21:23, AndrewS said:

Since the high of the Nasdaq and the consolidation at the recent highs the Indices have been going there own way somewhat. The Dow and S&P500 as well as the Dax and FRA40 have had low correlations. Actually the Dax and S&P500 resemble each other more than they do the Dow. But this is something one can see on the charts in real time. The Dax pulling ahead on its own to make a high for the week leaving the Dow behind  (perhaps because upbeat information was due from China in 12 hours time). To my eye, the Dax visibly resembles the S&P500 more than the Dow for a couple of months.

But I am not going to dump the Dow in favour of the S&P500 because of a one day loss in the last twenty days.

OK I am probably done for the day so I will post.

I am looking at the S&P500 more than the Dow now.

 

SPX500Daily.jpg.9681ff7236df271db27fea9bf5b6f469.jpg

Share this post


Link to post
46 minutes ago, AndrewS said:

OK I am probably done for the day so I will post.

How gracious of your lordship ...

:D

Share this post


Link to post
6 minutes ago, dmedin said:

How gracious of your lordship ...

:D

Oh and a yearly mid-pivot and the weekly R2 held the Dax after it had risen about a days ATR from midnight.

GER30M5.jpg.e4e20a9f90300c52276bc0a013768b39.jpg

  • Great! 1

Share this post


Link to post

Hold the doors Samantha, is this the start of an immediate reversal? 🤔

1325089502_EUStocks50_20200721_17_12.thumb.png.7213240b1d0d3a520489ba384a9b02b9.png

Share this post


Link to post

Hmmm.  Not the most encouraging sign 😲

1434396800_WallStreet_20200721_20_39.thumb.png.88185add75cd716a7f01f2668620f056.png

Share this post


Link to post
Posted (edited)

Not much doing overnight.  😫 :( 

Edited by dmedin

Share this post


Link to post
Posted (edited)

Indices now sh!tting the bed once again.

Edited by dmedin

Share this post


Link to post
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 :) 

:)

Share this post


Link to post

Yep, Wall Street hasn't come close to beating its June 9/10 high and probably won't for months to come.

Share this post


Link to post

FTSE 100 is shaping up for a potential short ...

1895628810_FTSE100_20200722_11_45.thumb.png.908ffbef161bc8cfcd731a5fe02ef759.png

Share this post


Link to post

Finally got some action going on, cabron!

738265107_WallStreet_20200723_09_50.thumb.png.812df0d76f72f1ce1081639165c475a9.png

Share this post


Link to post
22 hours ago, dmedin said:

FTSE 100 is shaping up for a potential short ...

1895628810_FTSE100_20200722_11_45.thumb.png.908ffbef161bc8cfcd731a5fe02ef759.png

NO :D

Share this post


Link to post

Nope.  Indices slide all the way back down again :P 

Share this post


Link to post
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 :) 

:)

Share this post


Link to post

Is Nasdaq about to sh!t the bed big time?

1380767288_USTech100_20200723_18_32.thumb.png.11bb045d37f136317b4e72a39446716a.png

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×