Considering the Trading Markets TPS strategy:
1 day above RSI(2) = 75
2 nd day above RSI(2) = 75 then buy 10%
3 rd day etc. etc
10, 20, 30, 40%
Then sell when RSI(2) < 30.
OK, so what happens when there is an intervening close below RSI(2) = 75 (as just happend)
Would today's close count as the 20% entry day?
I don't know this setup.
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wow, very strong close. another very very good news tonight?
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Cobra wrote:nothing to say, 10 min to go, I said low was in. let's see how market closes today, should be pretty much guarantee another higher high tomorrow.
rhight wrote:I thought I saw you refer to it a couple times. It's out of their "High Probability ETF Trading" book.
I don't remember I saw the setup.
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well, guess that's it for today. this bull is unstoppable. thank you ladies and guys, I'll see you tomorrow.
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Al_Dente wrote:PAGING GUAKAM:
“Just Buy The F***ing Dip .. it's from ZeroHedge animation video, where frustrated bears would describe the bulls mentality. When QE2 was going on, every dip was immediately bought …..”
Thanks 4 jbtfd ……and thanks for spelling it cryptically… I just tell the kids it means “fuggettaboutit.” They run around house yelling fuggettaboutit, fuggettaboutit, dog all barky barky chasin em…
(PS: that seekingknowledge make us work too hard, like that ol’ michelle)
Sorry. I'm still new to the site and trying to learn the rules. I thought I should let a seasoned blogger respond. I won't do this again. I promise!
cougar wrote:SPY seems to have gone high enough for now…
But a third round of shorts covering could take it in the 120 zone, which should be a critical resistance.
If we go above 120... 121.22 should be the top for this well engineered “rally”.
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This is in "swing-range" and not for day trading.
"...a third round of shorts covering..." seems to be hear. Hope that not many of us contribute to its so-called "success".