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  • #505,421
  • Aug 1, 2011 11:21am Aug 1, 2011 11:21am
Quoting gatorinla
upper mofu level on the 4 h was closed with a solid candle. indicating more strength. not a bs move. like the broken candle one was last night. #504679
Fair enough... i'll close out here... i've already given back nearly half of today's move as it is on her. .7820'ish was my last line of resistance anyways.
  • #505,422
  • Aug 1, 2011 11:22am Aug 1, 2011 11:22am
Quoting AllyB
that's what she said
  • #505,423
  • Aug 1, 2011 11:24am Aug 1, 2011 11:24am
Quoting fontu
4197 support broken & next waiting 4124 daily support perhaps today , 4028 target level then from daily close . short retaken below 4246 breaks . 4043 H1 sr & 4083 weekly sr to care . waiting go continue .
fontu
I like this chart better )it's a lot cleaner!
  • #505,424
  • Aug 1, 2011 11:24am Aug 1, 2011 11:24am
Quoting ShockWave
i smell something stinking , cloggie opened his @rse, excuse me mouth again, jeez man you are on wedding & posting , wonderfull social life u have, if it means something to you i dig u , i dig all people who make me smile...... i will be your friend man dont worry u wont be alone, i will admire your stupidity always i like clowns
Cloggie is fond of a saying that goes something like "Never mud-wrestle with a pig, because the pig like it."

Pick out the two of you in this picture.
Attached Image
  • #505,425
  • Aug 1, 2011 11:31am Aug 1, 2011 11:31am
Quoting sofia101
I like this chart better )it's a lot cleaner!
Thanks , it is from TD sequencial count analysis chart 2weeks back & updating just a little , daily & weekly play still to do ,now daily started.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #505,426
  • Aug 1, 2011 11:34am Aug 1, 2011 11:34am
Quoting AllyB
that's what she said

Do your time and enjoy the ride...
  • #505,427
  • Aug 1, 2011 11:34am Aug 1, 2011 11:34am
Quoting KumoDragon
Sure........... The month closing below x point means little if nothing, just like an H1, 4H, or D1 close below x point means little to nothing.

And what would you say if it closed below the monthly mpp and did the exact opposite? ....honest question.

Not the point of what I was saying to smurf though, he was acting like it was a stupid question to ask if there was a reason for the move.... outside of TA.

P.S. excuse me if I ignore the, "clues," from anyone on this thread. I've had more good trades screwed because of listening to...
id say it will come back.. and the other move is bullshit... set to suck in suckers. but if they had entered long at.near mpp.. with a near s/l then it was a good r/r trade. its not what i would say, its what i said. before the move.. we also had broken candles.. a good head fake clue. i trade r/r.. the risk north was greater then reward. there have been following 2008 2 other rejected high (LH) and 2 (LL)... in a descending channel. these are clear on the charts. we are are closer to the top of this atm then the bottom... so reward was greater lower with the month clue.. atm with the political
crap going on.. we can easily turn on a dime.. st... but it does not negate what has happened for 3 years. if it aint broke, it is the trend.
those who can, do. those who cant, talk about those who can
  • #505,428
  • Aug 1, 2011 11:34am Aug 1, 2011 11:34am
Quoting fontu
Thanks , it is from TD sequencial count analysis chart 2weeks back & updating just a little , daily & weekly play still to do ,now daily started.
fontu
Make sense ,nice
  • #505,429
  • Aug 1, 2011 11:39am Aug 1, 2011 11:39am
big candles depending on what the politicians say, I would say a bounce most likely.. but who knows. I am still holding, and will be holding.. going to get some foods

Attached Image
  • #505,430
  • Aug 1, 2011 11:39am Aug 1, 2011 11:39am
Quoting AllyB
that's what she said
i hope in a gargling sound.. in a nice, kinda smoke a cigarete way.

and i dont even smoke.
those who can, do. those who cant, talk about those who can
  • #505,431
  • Aug 1, 2011 11:41am Aug 1, 2011 11:41am
guys, can i ask times like these pattern trading dont actually work?
  • #505,432
  • Aug 1, 2011 11:43am Aug 1, 2011 11:43am
Quoting Ssm
Dude, with a candle like this, "morning star", seems that it is a failed Head and Shoulders.

I don't know, I am a newbie. :-)
I think different people define their Head and Shoulders patters slightly differently, and have different requirements to call it trade-able. This one fit what I look for to trade it. I'm up 207 pips
"Discipline is the key ingredient to Personal Freedom"
  • #505,433
  • Aug 1, 2011 11:48am Aug 1, 2011 11:48am
Amaze me a little bit how many seems to catch the short today. Are you all countertrend traders? To me it looks like a trade against the trend if not looking at only 5 minute bars. Hourly pointing upwards all day at least until the close below 4350 and then it was still above daily pivot and would have been just a lottery to take a chance at ISM. Even the past daily bars had tails to the downside warning for a coming up bar confirmation.

Looking only on that 5 minute bar trend goes so wrong many times but that might be just me.
  • #505,434
  • Aug 1, 2011 11:48am Aug 1, 2011 11:48am
Quoting endyfor
guys, can i ask times like these pattern trading dont actually work?
Price always works just fine, no matter what times are going on.
  • #505,435
  • Aug 1, 2011 11:49am Aug 1, 2011 11:49am
Quoting Nighttrader
Amaze me a little bit how many seems to catch the short today. Are you all countertrend traders? To me it looks like a trade against the trend if not looking at only 5 minute bars. Hourly pointing upwards all day at least until the close below 4350 and then it was still above daily pivot and would have been just a lottery to take a chance at ISM. Even the past daily bars had tails to the downside warning for a coming up bar confirmation.

Looking only on that 5 minute bar trend goes so wrong many times but that might be just me.
Uh? Bull move Friday and last night was the retrace, not the bear move.

Also, the tails were viewed as demand consumption, not rejection.
  • #505,436
  • Aug 1, 2011 11:53am Aug 1, 2011 11:53am
Quoting gatorinla
i hope in a gargling sound.. in a nice, kinda smoke a cigarete way.

and i dont even smoke.
in your dreams
  • #505,437
  • Aug 1, 2011 11:53am Aug 1, 2011 11:53am
Quoting Venice
Uh? Bull move Friday and last night was the retrace, not the bear move.
It was up during the 10 days before that so I would say thursday and friday was the retrace for more bull. Could be as bear if taking the last months as a sideway then and not caring about that the last two weeks was up.
  • #505,438
  • Aug 1, 2011 11:54am Aug 1, 2011 11:54am
Monday’s reversal a rare occurence

August 1, 2011, 12:13 PM

Bespoke Investment Group runs the numbers on sharp reversals like Monday’s.
The Dow rallied more than 1% Monday on news of a debt deal, only to reverse to triple digit loses after the latest ISM numbers showed more slowing in the economy.
According to Bespoke:

…today is only the tenth time [since 1985] the S&P 500 has ever been up 1% or more in the first half hour of trading, only to give back all of that and more (0.5%) by 10:30 AM.

On average the markets have ended up 0.25% on such days.
But perhaps more tellingly, each such day has featured another move of 1% or more.
-Tom Bemis


Main article on marketwatch.


Happy to see that this is a rare occurence. Don't like these jokes
  • #505,439
  • Aug 1, 2011 11:55am Aug 1, 2011 11:55am
bastards......yesterdays low mofu, on the retest...
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Look Sharp/Trade Tight
  • #505,440
  • Aug 1, 2011 11:58am Aug 1, 2011 11:58am
Quoting Nighttrader
Amaze me a little bit how many seems to catch the short today. Are you all countertrend traders? To me it looks like a trade against the trend if not looking at only 5 minute bars. Hourly pointing upwards all day at least until the close below 4350 and then it was still above daily pivot and would have been just a lottery to take a chance at ISM. Even the past daily bars had tails to the downside warning for a coming up bar confirmation.

Looking only on that 5 minute bar trend goes so wrong many times but that might be just me.
what are the countertrend police...
Look Sharp/Trade Tight
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