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  • #321
  • Oct 16, 2019 10:55am Oct 16, 2019 10:55am
Quoting detector
I see weakness on the Dow, any comments, may short, the sloping res line has shown rejection of the price

Above 27 has been rejected many times however I have a hard time wanting to short when the market seems to be looking for any reason to break out to new highs.
I don't trade intraday though so everyone's analysis will be different.
  • #322
  • Oct 16, 2019 11:02am Oct 16, 2019 11:02am
Quoting deuce
{quote} Above 27 has been rejected many times however I have a hard time wanting to short when the market seems to be looking for any reason to break out to new highs. I don't trade intraday though so everyone's analysis will be different.
Granted D, but not looking that good, that said it turns on a dime, uncertain ATM so just holding gold, any impact gold to hold, had a spike on recent news, pot bubbling?, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #323
  • Oct 16, 2019 11:05am Oct 16, 2019 11:05am
Quoting detector
{quote} Granted D, but not looking that good, that said it turns on a dime, uncertain ATM so just holding gold, any impact gold to hold, had a spike on recent news, pot bubbling?, D
It's times like this a rabbit appears, mm, all the pundits are talking the market up, this makes me think the Kansas shuffle,D
I don't need to be good at the game, only good enough to beat my opponent,
  • #324
  • Oct 16, 2019 11:43am Oct 16, 2019 11:43am
At a crossroads with gold, hasn't crossed resistance but challenging while its at this level, any input, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #325
  • Oct 16, 2019 12:01pm Oct 16, 2019 12:01pm
Quoting detector
At a crossroads with gold, hasn't crossed resistance but challenging while its at this level, any input, D
New 4hr bar opened, spike down, now back up, shakeout possible to elude the rejection, chart has it up still, just to get above the res, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #326
  • Oct 16, 2019 1:21pm Oct 16, 2019 1:21pm
Quoting deuce
{quote} Above 27 has been rejected many times however I have a hard time wanting to short when the market seems to be looking for any reason to break out to new highs. I don't trade intraday though so everyone's analysis will be different.
D, I try more of an opportunist approach, the Dow was (would) a classic in and out situation, longterm is not me, although I have held over a few days, trouble is the analysis on the chart is for the time frame viewed, beyond the window everything changes, been looking at the 4hr, even that has it's draws, mainly entry, need to work on this for moving forwardD
I don't need to be good at the game, only good enough to beat my opponent,
  • #327
  • Oct 16, 2019 1:27pm Oct 16, 2019 1:27pm
Quoting detector
I see weakness on the Dow, any comments, may short, the sloping res line has shown rejection of the price
I am with you to short the dow, but I may not have any strong support evident, just because it has rally 1000 points from the bottom recently so I am looking for a short setup, biased view basically, too reluctant to go long now.

One good thing is, today have an inside bar, so bull has stopped for a pause for now, and technically, those oscillator like RSI and stochastic are saying overbought, so this may support my bearish view.
  • #328
  • Oct 16, 2019 1:44pm Oct 16, 2019 1:44pm
Quoting luckyvictor
{quote} I am with you to short the dow, but I may not have any strong support evident, just because it has rally 1000 points from the bottom recently so I am looking for a short setup, biased view basically, too reluctant to go long now. One good thing is, today have an inside bar, so bull has stopped for a pause for now, and technically, those oscillator like RSI and stochastic are saying overbought, so this may support my bearish view.
I let the trade pass LV, I wasn't wanting to be in the market only for a good visual opportunity, gold showed a good setup so took it, all speculative though, the Dow has provided many opportunities with this approach but sometimes it's a waiting game, sometimes quick and painless, I'don't use the conventional indi's so see a different set up, good trading, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #329
  • Oct 16, 2019 1:49pm Oct 16, 2019 1:49pm
Closed gold long for the hourly break, while the market is open we have control, an hour could make all the difference, can always re-open, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #330
  • Oct 16, 2019 2:42pm Oct 16, 2019 2:42pm
Looking like bit coin to hit 6500, this bring it to the lower boundary on the daily and the 50 ma on the weekly, with another few days for the brexit fiasco to complete I will keep an eye on the levels, better case scenario would be a big round number of 5000, still on the radar for a long entry, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #331
  • Oct 16, 2019 3:15pm Oct 16, 2019 3:15pm
Quoting timingchain
{quote} It sounds like you have done your homework beyond what I have. I have not done a 2008 comparison, nor looked at many other alternatives. I'm thinking about the transition from scalping and day trading to longer term--not ready yet.
I couldn't trade short term for US indexes personally. About the best I can do is fade VIX spikes, but that's about the only edge I have shorter term. Longer term its a question of economics which is where I excel at so all of what I do is long term. The money isn't bad if you use products like TQQQ.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #332
  • Oct 16, 2019 3:16pm Oct 16, 2019 3:16pm
Quoting luckyvictor
{quote} I am with you to short the dow, but I may not have any strong support evident, just because it has rally 1000 points from the bottom recently so I am looking for a short setup, biased view basically, too reluctant to go long now. One good thing is, today have an inside bar, so bull has stopped for a pause for now, and technically, those oscillator like RSI and stochastic are saying overbought, so this may support my bearish view.
If you're not in already I'd wait to buy on a new high. Let it prove it can keep going higher before getting in.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #333
  • Oct 16, 2019 3:33pm Oct 16, 2019 3:33pm
Off to bed all, speak soon, head is mashed D
I don't need to be good at the game, only good enough to beat my opponent,
  • #334
  • Oct 16, 2019 10:45pm Oct 16, 2019 10:45pm
Inserted Video
persistence and determination alone are omnipotent
  • #335
  • Oct 17, 2019 5:37am Oct 17, 2019 5:37am
Gold still challenging the rising res line, the assumption is after six 4hr bars making an attempt it could only be a matter of time for it to push through, the rejection has not force it into a continuation, it keeps coming back for more, this attempt looking more convincing creating a higher high above, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #336
  • Oct 17, 2019 6:25am Oct 17, 2019 6:25am
Dow has hit the sloping res line again 4hr, it's proving hard to pass, previous attempts have failed and price fell, the opening will be an interesting one, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #337
  • Oct 17, 2019 6:33am Oct 17, 2019 6:33am
All data released today are not looking good, but it didn't drop, isnt it manipulated?
  • #338
  • Oct 17, 2019 6:42am Oct 17, 2019 6:42am
Quoting luckyvictor
All data released today are not looking good, but it didn't drop, isnt it manipulated?
One would wonder LV, seems the indis are top heavy on the Dow, price rejecting, a recipe for a fall, but been here before, gold now over the support line and moving, WTI playing games but seing a fall on the hourly bar however creating an uptick wick (that could be new terminology LOL) D
I don't need to be good at the game, only good enough to beat my opponent,
  • #339
  • Oct 17, 2019 6:44am Oct 17, 2019 6:44am
1500 target off the bat if gold goes, 51 for WTI D
I don't need to be good at the game, only good enough to beat my opponent,
  • #340
  • Oct 17, 2019 6:52am Oct 17, 2019 6:52am
Quoting detector
1500 target off the bat if gold goes, 51 for WTI D
Closed out positions, Dow approching and looking to break the res line
I don't need to be good at the game, only good enough to beat my opponent,
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