Indices

[dmedin]

Time for me to suspend my trading for the day before it turns into a total clusterf*k.  Don't want to give up all of yesterday's gains

[AndrewS]

18 minutes ago, dmedin said:

The phoenix continueth apace to rise, Jeremiah.

 

The Nasdaq’s ballistic move up in recent weeks may have come to an end (not that I trade it).

[dmedin]

Suit yourself, trading the Nasdaq is highly profitable.

Nevertheless, I won't short it while it's above the 200 EMA.  And even when it's below the 200 EMA, I will always wait to sell a rally.

 

[dmedin]

Germany looks canny Eileen 🐮

 

[dmedin]

Keep pushing Eileen, you can do it 🐮

 

[dmedin]

Gird up thy loins, Samwise Gamgee, and keep fighting the good fight 🤠🐮🤓

[dmedin]

The FTSE 100 looks like it's hovering with its breeches down around its ankles, about to take an enormous dump.

 

[dmedin]

🤓

 

[dmedin]

The Lord be praised, Jeremy! 🤠

[dmedin]

It's a melt-up, Tom!  🤓

 

 

Edited September 2, 2020 by dmedin

[Caseynotes]

S&P pushes up to the monthly R1. Dax sits above the weekly resistance level (red).

FTSE and S&P daily charts.

Dax and Dow H1 charts;

 

[dmedin]

13 hours ago, dmedin said:

The FTSE 100 looks like it's hovering with its breeches down around its ankles, about to take an enormous dump.

 

False alarm

 

[Caseynotes]

Dax and Dow M15;

[dmedin]

4 hours ago, dmedin said:

False alarm

 

 

The Footsie has done a poopsie and is nearly a candidate for shorting again

The long wicks of rejection:

 

Edited September 3, 2020 by dmedin

[dmedin]

Pressure is still building 🤔

 

[dmedin]

There goes Nasdaq 🤯💨

 

[dmedin]

Well Tom, the indices are selling off now but it was to be expected.

FTSE 100 is already below its 200 EMA on the hourly chart and I'm short; Nasdaq is nearly below its 200 EMA on the hourly chart so I would only sell on a rally beneath 200 EMA followed by a turn.

But in general, wait for a bottom and then buy.  😘 

[AndrewS]

Forgot to check the 1 min chart when there was a high velocity move and so added it to my trade management rules.

[dmedin]

13 minutes ago, AndrewS said:

1 min chart

???????????????

[dmedin]

Well, Tom? 🤯

[dmedin]

29 minutes ago, AndrewS said:

my trade management rules

Very good.  Essential to have these and keep them up-to-date.

[dmedin]

At least the Nasdaq isn't overbought any more

[AndrewS]

24 minutes ago, dmedin said:

???????????????

When there is high velocity a 1 min chart can have more consistency than the price levels I look at in that price can go through those levels like a hot knife through butter.

[dmedin]

The Volatility Index is one of the few instruments where volume is still useful.

(It doesn't seem to have much relevance any more in stocks, indices or forex that I can tell.)

 

[dmedin]

Buy the dips, canny loons 🤓

 

[dmedin]

OR sell the rally, it depends  

[Caseynotes]

S&P stopped at the monthly R1 and retraces down to the monthly Pivot.

FTSE and S&P daily.

Dax and Dow H1;

[dmedin]

Buy the dips!

[dmedin]

Sell the rally, Peregrin Took?

 

[dmedin]

19 hours ago, AndrewS said:

When there is high velocity a 1 min chart can have more consistency than the price levels I look at in that price can go through those levels like a hot knife through butter.

I guess I'm just not clever enough to 'see' it.  In the same way that EWP people can see complex corrections and waves within waves within waves, I just see lines wiggling up and down.  These people say they have success with plain charts and no indicators and I wonder how they do it.  (Actually, my brain is telling me that they are complete chancers who are using already-completed chart patterns and hindsight to make themselves look good ... the question is, why?)

https://www.forexfactory.com/thread/369763-richard-demille-wyckoff-method

Edited September 4, 2020 by dmedin