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Which colour is magenta exactly? I see two different shades of purple?99er wrote:SPX
I am bearish here, expecting prices to tumble from the upper channel line (purple) past the mid-channel and down to the lower channel line where the Wolfe Wave target (magenta) rests. This may prove to be a rapid descent.
Put another way..."Surf's up."
Wow 99er, that is yr longest post explanation on record, so what u really mean is "surf's down"99er wrote:SPX
I am bearish here, expecting prices to tumble from the upper channel line (purple) past the mid-channel and down to the lower channel line where the Wolfe Wave target (magenta) rests. This may prove to be a rapid descent.
Put another way..."Surf's up."
lots of contrarians here....toplight wrote:It's interesting that it's a breakout day and most people are looking to short
SPY hourly chart is still bullish until 123.2 gets broken. Up we go baby.pady wrote:tdo722 wrote:Okay I'm with you. Just bought 500 shares sds. where's your stop loss? day high?BullBear52x wrote:Here is SSO
Dont you guys think there is one more high ? I feel so, because the last runup from 119.82 was like 4 hours. Wave 4 of this impulse ( which is playing now ) should also be same time frame ? One more runup after that for Wave 5 ???
When I posted that commentary (10 min ago) VIX vol. C/P was ~1. Now it is >2cougar wrote:VIX is very intriguing. Still strong. The fan line is now resistance. I am watching the VIX=33 level.
HOD= 32.76...so far.
Sailing against a strong wind is taking a risk to have your ship wreckedstucap wrote:lots of contrarians here....toplight wrote:It's interesting that it's a breakout day and most people are looking to short
Are we taking surf board, car, bus, train, airplane? surly,It is a dizzy day. Maybe we should wait to get 1250 first. Y0ur dictionary getting fuzzy too. What happend to MACD guy on your chart?99er wrote:SPX
I am bearish here, expecting prices to tumble from the upper channel line (purple) past the mid-channel and down to the lower channel line where the Wolfe Wave target (magenta) rests. This may prove to be a rapid descent.
Put another way..."Surf's up."
Do I ever, but it feels like there will be another higher high above 1240, like around 1250 or even 1270. I may take 30% of short position today and add to it if we go higher.wayne0708 wrote:anyone feels like shorting here?
Ha! StrikePrice is sooo right! Let me reiterate his comment, "You figure something out, you let us know." This is truly, truly THE hardest part of trading ... and everyone has their own style. Some folks are momentum traders, some swing, some long, some intraday. Profit taking is different for each method. I, personally, let stochastics and moving averages tell me when to sell. When the moving average trio (10/20/50) roll-over and stochastics moving under 80, I'm out and sitting on sidelines. Otherwise, let her ride.StrikePrice wrote:Sounds fun. Everyone knows Exits are the hardest part. You figure something out, you let us know.Masm wrote:So, I am a novice trader. I'm trading ES mini intraday and I have developed a method that is PDG at catching turns. Although, many turns go by with out my method producing a signal. But when it does signal it's right more often than not.
I'm paper trading 95% of the time but gaining confidence...in part due to Cobra and others here. Thanks!
My problem with this method is Exits. So far, the most cautious exit gives 3-5 point (typically) but often I get out at such a poin only to watch what would have been a nice run. Still working on this part of my method.
lost $70 this morning following your footsteps. Live and learn and now I will wait for the trend change at least before trying to go against the wind buddy.BullBear52x wrote:SSO update, for shorts, 45.25 is my stop, no but or is!
The southbound train is running into a wrong tunnel?GreedyKojiro wrote:Sailing against a strong wind is taking a risk to have your ship wreckedstucap wrote:lots of contrarians here....toplight wrote:It's interesting that it's a breakout day and most people are looking to shortunless that is part of your evil plan