Back to www.cobrasmarketview.com |
Trading reversal pattern is always dangerous because it's against the trend!Petsamo wrote:Some guy told me that technical patterns such as H&S don't work on indices, only on individual stocks.
but it should apply to any chart. It's nonsense some patterns work for stocks but don't work for indices.Petsamo wrote:Some guy told me that technical patterns such as H&S don't work on indices, only on individual stocks.
Me too. My emotion didn't get me in the Bull run today and that was the trade of the day. I know a lot of good traders got in and I'm really glad for you.Cobra wrote:thanks. glad someone paid attention that indeed TA works. News doesn't matter. The reason I'm saying this is someone in my Chinese forum are complaining again that TA doesn't work. Well, everyone knows I'm purely TA and it does work. Tradings on the other hand is different because besides TA, there's a more difficult part which is EMOTION. I still cannot put my emotion away and that's why I'm still poor.jaaawf wrote:Tough week news wise for TA. We had Buffett and BAC, Earthquake, Jackson Hole Speech, Hurricane. That's an awful lot and I am probably forgetting something. You've navigated it well this week Cobra...thanks!
Cobra, I share your frustration with pattern failures!Cobra wrote:back testing the neck line, but I won't hope much for bears, yes, that's right, bears. H&S RARELY works, so I'm not surprised a strong rebound till the close especially I closed all my day longs because I was so disappointed. The market usually turns when I close all, just to make me more upset.
I said my day long which had descent profit.amour wrote:Corba, do not cut your long position, i believe it will be out of water probably late next week or early next next week, when we get to the end of triangle. i guess the direction is down-up-down to squeeze both short and long first, before the 2nd leg.
only 2% of posters say they lost money, so trading should not be that complicated. everyone seems to be on the right side all the times.StrikePrice wrote:Me too. My emotion didn't get me in the Bull run today and that was the trade of the day. I know a lot of good traders got in and I'm really glad for you.Cobra wrote:thanks. glad someone paid attention that indeed TA works. News doesn't matter. The reason I'm saying this is someone in my Chinese forum are complaining again that TA doesn't work. Well, everyone knows I'm purely TA and it does work. Tradings on the other hand is different because besides TA, there's a more difficult part which is EMOTION. I still cannot put my emotion away and that's why I'm still poor.jaaawf wrote:Tough week news wise for TA. We had Buffett and BAC, Earthquake, Jackson Hole Speech, Hurricane. That's an awful lot and I am probably forgetting something. You've navigated it well this week Cobra...thanks!
My philosophy is always live to trade another day...
Says it all! Total headfake. A rocket scientist couldn't figure out direction this week -- back and forth. Cobra did awesome job with big mess big boys are putting us through. Cobra, definitely don't be hard on yourself. I think you are still right that we are going to test the 8/9 low's ... and that prediction is the one that counts -- not this daily up/down crap.fuddleduddle wrote:All in all, headfake week galore. You've navigated this week very well, Captain Cobra.
Cobra wrote:well, as I said, H&S RARELY works, I'll forget about this pattern for awhile.
i use TA on every trade, the exact types of TA that i use are proprietary,TA doesn't work