dmedin

Apropos of the right-wing lunatics, crackpots, misanthropes and racists that are paraded about in your videos every day, this guy would be right up the trading community's street no doubt? Greed is good! Neil Woodford: disgraced money manager and partner took £13.8m dividends before fund collapsed https://www.independent.co.uk/news/business/news/neil-woodford-fund-manager-dividends-equity-income-collapse-a9274251.html

If this is put into law, it would broaden public participation in the stock markets - effectively ensuring a perma-bull scenario because no politician/president would let the markets tank if tens of millions of voters were hit. https://uk.reuters.com/article/us-usa-tax/trump-administration-eyes-10-middle-class-tax-cut-proposal-idUKKBN208230

I love the idea of fractals and waves within waves, but it's just more than I can deal with. Simpler is better ...

DailyFX invited this a$$hole on to their show and he was given a sycophantic airing of his jaded old views ... Interesting choice of guests, maybe it reflects the political views of DailyFX? Thank God white people populated America, and not the blacks," Faber wrote, according to an excerpt of the print newsletter obtained by Business Insider. https://en.wikipedia.org/wiki/Marc_Faber

Perhaps we can call this a 'DailyFX divergence'? What are the implications? Or maybe the 'analysts' are just hedging their bets. They are guaranteed to be right 😄

@fbehler I think it's only fair to tell you, but SignalCentre does not trade its own signals - in their 'small print' they tell you that it's all 'simulated'. They get their money from selling their signal 'service' to clients like IG. In my experience the signals given are appallingly bad.

And here's a really excellent one, with every possible S/R imaginable. He's sure to catch at least one of them!

Here's DailyFX using a Fibonacci extension for DJIA.

In this example I just went long because it stopped making a pattern of lower lows and lower highs, and the MAs aligned (in fact they were aligned at the morning star/bullish Doji that bounced off the 50 SMA). What is the use for Fibonacci, unless you are thinking this is a retrace rally in which case you would use the Fibonacci extension? How is that better than straightforward 'Dow Theory' and using trailing stops to lock in profits?

Yes, my question is, can you really just draw up Fibs or do you have to use them in the context of an EWP pattern system(which is pretty much inaccessible for most people).

Surely the big money interests know that there will be many traders looking to buy retracements and will use that knowledge to give fake signals ... that's what I can see when I use Fibonacci to trade. Fibonacci is only ever useful when used in hindsight and you deliberately manipulate it to line up with certain historical price points. 😞

Socialism for the rich you mean. The social/culture wars stuff is totally compatible with global financial capitalism. In fact, it's ideal because it allows the creation of highly profitable niche markets and it's a boom to marketers and hucksters of all varieties.

The MACD and Stoch just confuse me ... what exactly are they giving you that a simple combination of MAs doen't?

PRT can draw S/R for you ... why not just leave it to the machine?

Think I'll stick to 20 50 200 SMA on all time frames. (Except weekly where 10 and 40 equate to the 50 and 200 daily SMA) Looks better on the hourly chart. Stochastics, momentum, Williams %R, Directional Movement, MACD and CCI don't really help me.

🤔 Doesn't look right on a weekly chart.

I originally thought you could use Fibonacci lines like support/resistance. But that doesn't seem to be the right approach. What's the advantage of using Fibonacci without also applying Elliot Wave Principle ideas regarding lengths of waves? So the simplest rule is you measure from bottom to top and if price comes back 23.6 - 50% before going back up again then you buy? Is that really effective? It doesn't seem like it is. 🤔

Are these better S/R lines? They look better to me 🤔

I've just seen some videos on Twitter. Stuff the mainstream media doesn't show us about China. We need to stop relying on that country to make our goods. Even if it means higher prices (higher prices = better treatment of HUMAN BEINGS who make the stuff) and less consumption (LESS CONSUMPTION = better quality and less WASTE). The world needs to change, desperately!

Maybe the virus and the movement towards green energy and socialist uprisings all over the world are leading to a new world order and the stock market won't recover this time?

I missed another couple 'filters'. - Check at least the next highest time frame (H1 -> H4) to see if there's a noticeably different candle formation. Sometimes the situation appears very different, for example looking at H4 there was no reason to consider going short today - Have a prejudice against trading against the trend (so, not swing trading - no point in trying to do that if I can't even trade in the direction of a trend properly) - Even if the EMAs are in alignment and curving a certain way, look at previous highs and lows as it might just be a correction (in particular, look back at previous cross overs and see if there was a precipitous price movement). Higher highers, lower lowers and all that. etc etc. Haha, it would be easier just to buy an option and check on it once a week. Or buy and hold. Too much work 😫

This now meets my conditions for going short. But under the conditions (Friday, closing soon and Monday holiday) I may hold off. As for FTSE I am going to let it run for another hour to see if it will slip below S1.

Will need to decide whether to close at 7pm 🙂

Is the tide turning at the eleventh hour? 🤠

Well, the 20 EMA looks poised to drop beneath the 50 EMA and if it does, it would justify a short . 😾