(binned per thread starter’s request) The Journey

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I am focused a lot on the major Indexes at present and not least SPX.

The Triangle in the higher time-frames is noted as something major but I think we need another push down and so I am short with my Stop just above the deemed relevant "Invalidation level"

Hello,

Are you able to share the Fibonacci indicator (the green lines on the right of your screen)

Thank you

Sure Buddy.

I high-lighted the "Expansion points" on my H1 Chart. Shows also that my SL is now set in profit too

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Looking ahead. I am too cautious about the "Strength" of the "Triangle" and wish to pay it due regard.

I expect a large bounce at the very least at the Base Line and this could be the trigger point for a new all-time-high.

I try to keep an open-mind however.

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I took the Gains just ahead of Target.

For me this one is "psychological" because I keep bouncing off the "Highs" on my "Month-To-Date" statement. I will rest here for a moment and breath a little

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My Preferred Count and View in FTSE100 / UK100 is rather Bearish

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My Preferred Count and View in JPN225 is also rather Bearish.

Yesterdays Entry may be a little premature but I remain hopeful

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Wave Count for DAX / GER30 paints a very Bearish scenario.

Wave y (2 or B) may already be complete

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I am hoping that SPX has developed a 3-3-5 Flat which slopes down and thus that we may get an Extension of the Thrust down about now.

Target @ 2605.4

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I dont know about You guys but I will share my "Diary / Journal" method, because it is effective and simple.

I NEVER account for the "Reasons" or "Logic".

I make a Note of the last FULL £10 gain and "lock it in" so that my Diary shows for example the last BALANCE round number reached. EG (as present, £3150).

Then, I make a note upon each trade of the financial loss or gain where I am in relation to the next £10 Parameter. EG -5, +7, -25.

I will not amend the "Round Number" to a lesser one than the highest point reached. This instantly shows me what work I have to do to recover any short-falls and losses and also what I have to do to get to the next Balance Level, the next £10.

So, my Diary Journal is really just a series of entries on what is almost like a "Shopping List" and is always pushing me to the next £10 target. Once established I then update the Monthly Gain to the next full £10 and start again.

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I am Scalping Long and Short at such a rate that sharing step-by-step is not practical. Price action remains range-bound in SPX and so maybe further downside is warranted and to be expected.... but not guaranteed at all.

Meanwhile, I hit a new Monthly High in realised gains and my Diary reads now as £3160 and "Floating" at +7.

My "Method of Accounting" may be weird to some, but for me it keeps me "On the Ball" and things simple. In practice, if I make £100pm then I am on target to achieve a reasonable annual gain of 40%. Being used to 20% before charges on most decent equities type contracts (pension and Oics and ETFs) this means that I have an "Out-performance" factor in my favour.

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SPX may extend and become perhaps an Expanded Flat and push towards the next Target (in Black).

I am flat for now.

Daily performance is good and new levels reached.

Diary shows new Balance of £3170 and "Floating" at +1

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SPX could be facing a new low.

The Triangle in the "Bigger Picture" suggests CAUTION around the Lows and the Base Line of the Triangle (or above it).

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I am out for now.

Price action is too choppy to get a reliable and strong signal today.

I can see now an argument to go either way but given the time of day it is best that I wait for later or tomorrow morning and take matters from there.

Profitability has been good considering the conditions.

Monthly Performance shows that and my Diary is at £3170 and Floating at -1

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Thursday 26, 2018 ~ Good Morning!

SPX is painting an ambiguous picture. The Triangle may be complete. I would like to think it will have more downside but we could be facing the early stages of a new Impulse which would expect a new all-time high and so there is plenty of scope but not much opportunity to make a certain decision at this point.

Meanwhile, my Diary reads::: £3170 +3

Requiring just around a further £10 will achieve my £100 monthly gain target and so I suppose I can afford to be patient if I am able to be patient

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Apple, Facebook and Google all appear vulnerable to further declines and so it not so easy for me to get too Bullish in my bias yet....

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I took a couple of small gains but the best move for now appears in SELL. My Stop is at the top.

Somewhat 50/50 but we can't sit here all day watching, can we?!

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It has been quite an eventful day...... in some ways. My lower abdomen is painful and if that is not bad enough upon a "minor trump" while sitting at my desk I actually made a dirty deposit in my pants! This is not something that happens normally and hopefully I will NEVER mention it again

Trading took a back seat and which was a little lacklustre too with an ever-present "Money Come, Money Go Syndrome".

Diary reads £3170 and +4 Floating.

Friday and Monday next will be the final two trading days of April to make up the few pounds needed to accomplish the Target figure..... if my "internals" are up to it

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I can not be so certain that I can safely assume that Wave E of the Triangle at a senior degree is complete. If not we need another Zig-Zag down towards the base line of the triangle.

However, I think that we are in a situation where SPX (at least that one and others likely too) can be in the early stages of a Major Move to a new all-time High.

With this in mind, I have established a rather "uncommon" but effective adapted Fibonacci Fan but with the segments at 10% for the purposes of determining pull-backs and also stops for the anticipated Trend.