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2 hours ago, Caseynotes said:

Buying high 👇

image.png.9ff2ac7b07fc48c83fc5ca015aa4fd09.png

 

 

I think, if anything, technical traders should despair of things like this - nothing will ever prepare you for such events.  People will study this chart for years and probably never see anything like it ever again.  (Or incredibly rarely.)  Just goes to show that the little people are not welcome in the big boys' playground!

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53 minutes ago, dmedin said:

 

 

I think, if anything, technical traders should despair of things like this - nothing will ever prepare you for such events.  People will study this chart for years and probably never see anything like it ever again.  (Or incredibly rarely.)  Just goes to show that the little people are not welcome in the big boys' playground!

I'm looking hard at this chart and just can't discern what you see that would have disbarred you from buying the high around 420 back in Dec same as these 'big boys'? 

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15 minutes ago, Caseynotes said:

I'm looking hard at this chart and just can't discern what you see that would have disbarred you from buying the high around 420 back in Dec same as these 'big boys'? 

Did you not see my thread on how to get rich with a simple MA system?

I'm the best at hindsight 🤣

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3 minutes ago, dmedin said:

Did you not see my thread on how to get rich with a simple MA system?

I'm the best at hindsight 🤣

good point, what I've maintained for a long time is that none of us have the resources to provide us with and kind of accurate forethought so the next best option is just to follow those who do 😳

  • Thought provoking 1
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7 minutes ago, Caseynotes said:

good point, what I've maintained for a long time is that none of us have the resources to provide us with and kind of accurate forethought so the next best option is just to follow those who do 😳

I should have been more clear, I'm not talking any kind of mental capacity but rather expensive analytics and computer modeling.

Edited by Caseynotes
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7 minutes ago, dmedin said:

Yes 😻

noooo, but it's at the bottom of the screen so surely it can only go up from here???  

 

I'm sure everyone recognised the chart and of course you are right, 'follow the trend til the bend at the end' and there ain't no bend yet.

 

It was of course the NASDAQ futures. 

 

Oh wait, 'inverted'.

image.png.122e86fb1e7dc8b3f44c4c812b332281.png

 

  • Great! 1
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1 minute ago, dmedin said:

They have a point, it does look overextended and it's reasonable enough to want to try and find some extra confirmation before entering a new trade.  You're really just looking for a justification to get in, and find a reasonable stop loss point.

fair enough and you don't really just want to be jumping in on FOMO but what sort of confirmation would you be looking for? I would think drilling down time frames and look for a pullback where at least you would have a reasonably clear stop loss position is really the best you could do.

The only real confirmation is to sit and watch it travel another million points with you on the sidelines and that's no real help.

Buy low and sell high is relative, a pullback on a lower time frame may well be the best low you're going to get.

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3 minutes ago, Caseynotes said:

fair enough and you don't really just want to be jumping in on FOMO but what sort of confirmation would you be looking for? I would think drilling down time frames and look for a pullback where at least you would have a reasonably clear stop loss position is really the best you could do.

The only real confirmation is to sit and watch it travel another million points with you on the sidelines and that's no real help.

Buy low and sell high is relative, a pullback on a lower time frame may well be the best low you're going to get.

But the signals on daily and weekly charts are stronger.  You can use Fibs to trace out little waves, and the RSI helps.  The picture painted by e.g. 1 hour chart and the daily chart are just too different for me to reconcile. 

I suppose you can have tight stop losses on short time frames and only trade in one direction, if you're got the discipline to not keep re-entering the trade and continually get your stop loss hit.🤡

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1 minute ago, dmedin said:

But the signals on daily and weekly charts are stronger.  You can use Fibs to trace out little waves, and the RSI helps.  The picture painted by e.g. 1 hour chart and the daily chart are just too different for me to reconcile. 

I suppose you can have tight stop losses on short time frames and only trade in one direction, if you're got the discipline to not keep re-entering the trade and continually get your stop loss hit.🤡

you shouldn't be looking at a higher time frame chart that looks like that and even be thinking of trading in the opposite direction really. Time frame analysis always starts high and works down to your preferred trading chart so in your mind you have the bigger picture before looking to trade.

Momentum = force and can carry a market a far greater distance than imagined.

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  • 2 weeks later...

Sanders is about to be hamstrung by his party while crooked Hillary becomes Biden's running mate. If Biden gets elected president he will be quickly retired on health grounds and Hillary will finally 'get her turn'.

Yesterday Biden accidentally endorsed the reelection of Trump 🤓

 

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4 hours ago, Caseynotes said:

Sanders is about to be hamstrung by his party while crooked Hillary becomes Biden's running mate. If Biden gets elected president he will be quickly retired on health grounds and Hillary will finally 'get her turn'.

Yesterday Biden accidentally endorsed the reelection of Trump 🤓

 

 

The media won't talk about Biden's dementia.  :D

The Democratic Party would rather see Trump re-elected than put Bernie forward.

There's only one way the American people can break out of their corrupt political system now.  It's called the Second Amendment :D

Edited by dmedin
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