dmedin

More bad news: https://uk.reuters.com/article/uk-usa-health-j-j-expert-exclusive/exclusive-jjs-own-expert-working-for-fda-found-asbestos-in-baby-powder-idUKKBN1X913Z Very resilient stock though ...

@Mercury Very good call on EUR/USD, still rallying! 😺

Would you care to add any annotation or explanation to the chart?

The spread will eventually become more favourable if you hold on - an extreme spread is usually temporary ...

Yes a little, but I'm not looking at anything less quicker than day charts right now

Apropos, this is a little gem. https://www.ig.com/uk/trading-strategies/how-to-profit-from-downward-markets-and-falling-prices-191016

John J. Murphy 'Technical analysis' Steven Nison 'Japanese Candlestick Charting Techniques' Glen Arnold 'The Financial Times Guide to Investing', and his book on banking Ramki N. Ramakrishnan 'Five Waves to Financial Freedom: Learn Elliott Wave Analysis' (clearer than Prechter and Frost initially) Prechter and Frost 'Elliot Wave Principle' (very difficult to follow initially) Edwards and Magee 'Technical Analysis of Stock Trends' (excessively wordy but interesting) Dewey and Og 'Cycles: the mysterious forces that trigger events' Hurst 'Profit Magic of Stock Transformation Timing' This plus www.investopedia.org, Reuters and IG articles is more than enough ...

@nit2wynit Yeah let it run, but adjust your limit now and then.

@nit2wynit Have you had a look at Steve Nison's book on candlestick charting, it is really the bee's knees and essential when you're trading on very short time frames. There was a nice bullish hammer-type formation in there that portended an upswing.

Yes.👍

Keep selling the rallies - till there's nothing left?

Go with the flow, Obi Wan. Be one with the Force. Or as Jesu said to Paul on the road to Damascus, don't kick against the thorns.

As a 'best seller' he must surely have been 'cashing in' with his books and his talks.

@nit2wynit well that was actually a great place to get in short again, anyway

@nit2wynit In the heat of the moment I would have taken my profit here but with hindsight you can see it would have been better to let that position sit open for much longer

@nit2wynit This gap low is very bearish, I would enter short here and keep a stop somewhere above (in the gap) and then gradually move my stop lower to lock in profits. 😎

@nit2wynit Definitely, I have an issue with coming in too late. The point I was making about the gap at around 15:00. If I had missed that gap, the most sensible thing would be not to enter a trade. Have to wait for strong signals and not try to 'compensate' which almost always means coming in too late. Yeah so basically I would have gone short if I had been trading and saw the gap down, and held it. But if I came in later in the day and missed the gap I wouldn't have traded that one at all.

We should be looking for the ATHs to get tested as support now?

Back down again.

On a gap down (or up) you should ride it out, it will be some time before the gap gets filled.

It's on a wave back up my bonnie wee loons. Red is where I have a stop and green is where I'm targeting. 😻

Did you short that gap lower? BTW do you find MACD useful considering you already have MAs on your chart? I personally find the MACD to be too noisy.

S&P 500 record high. https://uk.reuters.com/article/us-usa-stocks/sp-500-hits-record-high-at-open-idUSKBN1X715I

Are the green orders your manual entries and the red crosses your sells? If so I would be interested to know your rational for buying and selling at those points. Towards the end you have a big bull run, and I cannot understand why you would be closing in and out of that so much when you could let it run.