still some chances of double bottom, no very good chances, some chances, wait.
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This is not strictly William Gann, but the system is based on his theories (or stolen form him ) The crossovers of the two channels show us the level of support/resistance. Quite amazing how this works ...
Cobra wrote:still some chances of double bottom, no very good chances, some chances, wait.
what is the reason not to call three push down? Or triangle breakout? Just try to learn. Thanks
double bottom is more obvious. For any patterns to work, it has to be very obvious so that everyone agrees therefore can work. If only a few people see some pattern, then few people are actually trading that pattern therefore chances are that pattern would fail.
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Cobra wrote:still some chances of double bottom, no very good chances, some chances, wait.
what is the reason not to call three push down? Or triangle breakout? Just try to learn. Thanks
double bottom is more obvious. For any patterns to work, it has to be very obvious so that everyone agrees therefore can work. If only a few people see some pattern, then few people are actually trading that pattern therefore chances are that pattern would fail.
Junior Buffett wrote:Just one observation, VIX has moved above it's 50 days MA and stayed there all day...which is kind of put S&P in a small time sell territory...
possible higher low, still double bottom has some chances, wait.
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Yesterday we had a great Ramp Express move during the last 15 minutes of RTH that completely reversed itself before Europe opened. With a tick chart it made a nice symmetrical move.
Looking forward to today's attempt at banging the close or what ever they call it these days.
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ES now 4 points above VWAP but getting to green is a long way away, but with a low volume market who knows what is possible with the help of modern computer programming.
Trades with cats wrote:Yesterday we had a great Ramp Express move during the last 15 minutes of RTH that completely reversed itself before Europe opened. With a tick chart it made a nice symmetrical move.
Looking forward to today's attempt at banging the close or what ever they call it these days.
Yesterday ramp did not even get back to the opening SPY price, IIRC.