08/23/2013 Live Update

[Apple]

Cobra, I am asking again:

When you have a chance, can you explain or give a link to h1 and h2? I have tried to search a link but could not find it.

Thanks a lot!

just happened to have it...viewtopic.php?f=3&t=16

[fehro]

SPX 5m, 15m

[Cobra]

breakout. it seems the usual very strong Friday close comes back.

[stlwater]

Cobra, I am asking again:

When you have a chance, can you explain or give a link to h1 and h2? I have tried to search a link but could not find it.

Thanks a lot!

just happened to have it...viewtopic.php?f=3&t=16

It's great signal to enter provided you combine it with some classic TA... support and resistance areas. Then you'll see the setups worth taking. You'll see an H1 as you near support which you'll want to ignore.. then you'll get the H2 at support... I found this to be the case in my trading before being exposed to it here on Cobra's forum (when I saw a whole strategy based on it I felt validated). There is another technique that I'm playing with which involves candle related signals and I'm trying to program a backtest but it looks damn promising. I only began to notice it in the last year.. it could be a great signal / entry for bottom feeders looking to get in on a trend-start early and with lower risk. Will keep working. Cobra, I haven't forgotten about the backtest on Base and Breakout. That's still on my list.

[joegamma]

FOR LATER...I/T shows more failure indicating end of bullmarket....download/file.php?id=49554&t=1

The ratio of new highs to nyadv is not giving a clear signal to stay bearish, weekly at that link from weekend board.... daily is bearish, but weekly could reverse like in april...

Theory that advancers tend to stay within a range, but NYHGH will fall at end of bull markets (not mine-taken from Morris" Breadth Indicators book and forgot who he cited))

[stlwater]

Cobra, I am asking again:

When you have a chance, can you explain or give a link to h1 and h2? I have tried to search a link but could not find it.

Thanks a lot!

just happened to have it...viewtopic.php?f=3&t=16

It's great signal to enter provided you combine it with some classic TA... support and resistance areas. Then you'll see the setups worth taking. You'll see an H1 as you near support which you'll want to ignore.. then you'll get the H2 at support... I found this to be the case in my trading before being exposed to it here on Cobra's forum (when I saw a whole strategy based on it I felt validated). There is another technique that I'm playing with which involves candle related signals and I'm trying to program a backtest but it looks damn promising. I only began to notice it in the last year.. it could be a great signal / entry for bottom feeders looking to get in on a trend-start early and with lower risk. Will keep working. Cobra, I haven't forgotten about the backtest on Base and Breakout. That's still on my list.

Specifically what I mean when I say classic TA setups is: Suppose you suspect an area will be support... well, as price nears that area you will want to see a strong H1 PRIOR to the support line, so as to EASE into the support area (soft landing) if it is a hard landing often times it will just break through (bad risk) better to look for another support area lower... I use H1/H2 to validate my TA and my confidence in my support/resistance calls... It really seems to help. Some things don't trade like that though. Commodities tend to move sharply and reverse sharply.. so you do have observe the market for a while to see how it reacts.

[BullBear52x]

this blue wedge should be the proper text book

[Out of Bounds]

Looks like I lose today. Staying short over the weekend.
My bearishness is getting stronger.

[BullBear52x]

or this, right or wrong price pays.

[Cobra]

members only update at 3:46 pm
http://www.cobrasmarketview.com/2013/08 ... ay-update/

[Cobra]

very strong Friday close back indeed.

[skittlesmds]

Cobra,

Can I request a strong Friday close? A good power hour with more up and up on ES during AHs.

Thank You Cobra! lol

[Cobra]

guess that's it for today. Friday tends to close very strong and into AH. Monday on the other hand has been down 4 weeks in a row because on Friday people kind hope some stimulus packages could be released during weekend AS USUAL, only found disappointed on Monday. Thank you guys, I'll see you TONIGHT.

before the close, please take a little time to vote for me, thanks. http://stockcharts.com/public/1684859/tenpp

[joegamma]

SPX 5m, 15m

yellow line on 15min, you think we gap up to fill Monday morning?
TIA

[fehro]

SPX 5m, 15m

yellow line on 15min, you think we gap up to fill Monday morning?
TIA

I don't think so. Resistance slightly above on other charts.. maybe a small pop monday sideways for the end of month.. then resume downward action to 1540ish

[ALdaytrade]

SPX 5m, 15m

yellow line on 15min, you think we gap up to fill Monday morning?
TIA

I don't think so. Resistance slightly above on other charts.. maybe a small pop monday sideways for the end of month.. then resume downward action to 1540ish

fehro,

Do you have a longer term projection in a chart?

[fehro]

SPX 5m, 15m

yellow line on 15min, you think we gap up to fill Monday morning?
TIA

I don't think so. Resistance slightly above on other charts.. maybe a small pop monday sideways for the end of month.. then resume downward action to 1540ish

fehro,

Do you have a longer term projection in a chart?

Here's a couple to check out