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05/02/2019 Live Update

05/02/2019 Live Update

Postby Cobra » Thu May 02, 2019 9:23 am

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no idea up or down from here (down? I guess).
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Re: 05/02/2019 Live Update

Postby Cobra » Thu May 02, 2019 9:26 am


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Re: 05/02/2019 Live Update

Postby BullBear52x » Thu May 02, 2019 9:30 am

Neck line here or 2907.5

a little over sold, a bounce back above 32 is bullish today. (day trade)
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Re: 05/02/2019 Live Update

Postby K447 » Thu May 02, 2019 9:32 am

Good morning all. Yesterday I was asked how I look at charts, and the market. Normally I listen and watch more than post but I felt I could share some of how I look at things.

Two posts outline in general how I look for broadening formation triangles and what I do with them.

viewtopic.php?f=2&t=3430#p268067

viewtopic.php?f=2&t=3430#p268062

I do sometimes work the triangles and related scenarios on shorter time frames, even intraday, but generally not nearly at the rapid pace of others in here.
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Re: 05/02/2019 Live Update

Postby Trades with cats » Thu May 02, 2019 9:34 am

You have tremendous courage to hold overnight!
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Re: 05/02/2019 Live Update

Postby BullBear52x » Thu May 02, 2019 9:36 am

My pivot is at 22.75, leaning bullish because of over sold, Buy first, will see from here.
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Re: 05/02/2019 Live Update

Postby QED » Thu May 02, 2019 9:37 am

K447 wrote:Good morning all. Yesterday I was asked how I look at charts, and the market. Normally I listen and watch more than post but I felt I could share some of how I look at things.

Two posts outline in general how I look for broadening formation triangles and what I do with them.

viewtopic.php?f=2&t=3430#p268067

viewtopic.php?f=2&t=3430#p268062

I do sometimes work the triangles and related scenarios on shorter time frames, even intraday, but generally not nearly at the rapid pace of others in here.

Thanks for posting, but the links are not working.

.
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Re: 05/02/2019 Live Update

Postby BullBear52x » Thu May 02, 2019 9:40 am

resistance level.
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Re: 05/02/2019 Live Update

Postby Trades with cats » Thu May 02, 2019 9:41 am

ES 06-19 (8000 Tick) 2019_05_02 (7_39_24 AM).png
For what it is worth today, FT71 looking for up, then down or down then up. Up move into 29 to 35 where he will go short, a down move to 14, 12 11 area where he will go long. Both cases he is looking for flat close based on the shape of the overnight.

After yesterday flat seems like a good bet!
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Re: 05/02/2019 Live Update

Postby BullBear52x » Thu May 02, 2019 9:45 am

Morning bulls can not lose at this point. Half off the table. stop at 22.5, come and get it. :geek: :ugeek:
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Re: 05/02/2019 Live Update

Postby K447 » Thu May 02, 2019 9:47 am

QED wrote:

Thanks for posting, but the links are not working.

.
Link works for me. :|

Perhaps right click on link and open in new tab?

Or just go to yesterday's thread and look through the last few posts of the day
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Re: 05/02/2019 Live Update

Postby Trades with cats » Thu May 02, 2019 9:49 am

Following the script we have all memorized Elon Musk is raising 2 billion to keep the doors open. Once again his stock is straight up because "he is buying". Anybody ho thinks markets are rational needs to explain Tesla. :lol:
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Re: 05/02/2019 Live Update

Postby BullBear52x » Thu May 02, 2019 9:51 am

Stockcharts.com is no good again today.
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Re: 05/02/2019 Live Update

Postby BullBear52x » Thu May 02, 2019 9:54 am

move stop up to 26.5
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Re: 05/02/2019 Live Update

Postby te_fern » Thu May 02, 2019 9:55 am

BullBear52x wrote:Stockcharts.com is no good again today.


I'm having problems with it too!
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Re: TSLA

Postby K447 » Thu May 02, 2019 9:55 am

Trades with cats wrote:... Anybody who thinks markets are rational ...


Don't we all leverage the market irrationality (on various timeframes) to make money?
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Re: 05/02/2019 Live Update

Postby te_fern » Thu May 02, 2019 9:56 am

K447 wrote:
QED wrote:

Thanks for posting, but the links are not working.

.
Link works for me. :|

Perhaps right click on link and open in new tab?

Or just go to yesterday's thread and look through the last few posts of the day


The links take me to the first page of yesterday's blog.
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Re: 05/02/2019 Live Update

Postby BullBear52x » Thu May 02, 2019 10:01 am

checking out market profile (not the volume profile) we got poor high yesterday. this what got me to go Hmmm.
Last edited by BullBear52x on Thu May 02, 2019 10:03 am, edited 1 time in total.
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Broadening triangle formations, price discovery, prior range

Postby K447 » Thu May 02, 2019 10:02 am

I don't know what is up with the links (they take me straight to my posts). Cobra might be able to comment on why they do not work for you? :?

http://bbs.cobrasmarketview.com/viewtopic.php?f=2&t=3430#p268067

Reposted below from yesterday.
K447 wrote:
JFR wrote:Show us a chart, K447.
...


Chart of what?

I mostly swing trade options on individual stocks with expiries multiple months out, sometimes LEAPS

I rarely trade the actual indexes, if I do it would be options, mostly put options. I use the indexes and sectors more as a monitor of the market climate and weather conditions, within which the individual stocks trade.

I sold a bunch of AAPL leaps circa October 2018 (I would have to go back and check the exact dates), then stepped aside. Managed to sit out most of the ensuing whipsaws, then started buying AAPL options again in late November, and bought more during late December when prices were getting rather stupid low. FB was also 'highly discounted' back then.

Eased out of all Facebook long calls last Thursday (they worked out nicely) but bought another smaller long call position yesterday. Something of a flyer for me, this current FB trade.


K447 wrote:
JFR wrote:Show us a chart of FB or AAPL. Let us see how you think.

What you look at for trends, support and resistance, etc.

Just chatting here on a quiet day.


Ah, well, hmmm. I do not view support and resistance as actual things. I look at such levels as targets to be taken out (exceeded). Even if by only a penny, stop-losses at the precise 'previous support' price tend to be taken out, and often extend further to trigger additional stop losses 'nearby'. Same for resistance.

Price action tends to whipsaw up and down, expanding the triangles (broadening formations with higher highs and lower lows) over time. Eventually the vertical price spans get large enough to be interesting. Then I look to buy calls at the next low range or buy puts near the triangle top. The idea is to be in the trade while price runs (or rips) through the prior ranges from one side of larger triangle to the other.

Where and on what time frames the triangle top or bottom is occurring is important. Along with other things I look for to confirm or negate the situation.

Within the larger triangles there will be multitudes of smaller sub-triangles. Price discovery is a series of broadening formations, from the 1 minute chart on out to the weekly, monthly, even quarterly and yearly.

For AAPL, why buy in late December 2018? On the way down price in December 2018 took out the prior low from Feb 2018. That made for a rather large triangle. The Jan 2018 AAPL low touched $142.00. Way back in July 2017 the low was 142.41, hence the triangle became even larger.

SPY was already on its way up by January 2019, so the 'market climate' was conducive to AAPL running back through the triangle. Or at least making the effort. Similar story for FB.

There is more to it than just the triangles, but I look at charts through this lens. And always looking at multiple time frames. My typical chart view for a given stock is monthly, weekly, daily, 60 minute, 30, 15. And sometimes the five minute chart just for timing the entry moment.

te_fern wrote:
K447 wrote:
QED wrote:

Thanks for posting, but the links are not working.

.
Link works for me. :|

Perhaps right click on link and open in new tab?

Or just go to yesterday's thread and look through the last few posts of the day


The links take me to the first page of yesterday's blog.
Last edited by K447 on Thu May 02, 2019 10:45 am, edited 2 times in total.
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Re: 05/02/2019 Live Update

Postby Cobra » Thu May 02, 2019 10:03 am


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Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
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