ZNTL - Chart Link- was you know was a nice long idea from Steve a couple weeks back

this is showing an example if one rode it up - whenever you see an extended doji candle, especially a black candle one like that, a stop can be laced at the low of that candle or just call it a day and exit

USO - Chart Link- price got between the 61.8 and 50% Fibs. You had a nice MA ribbon pinch which Steve showed last night

USO - Chart Link- here's where the education comes in: you had the MA ribbon pinch on the 60 min. What I like to do is zoom down to a smaller time frame like a 15 min chart. As you can see the 15 min chart had a nice wedge and found support at the 200 SMA

so this is an example of seeing a potentially bullish setup on a higher time frame i.e. a 60 min here, then zooming down to a 15 min time frame for a pattern and trigger

I've been saving a lot of these into a list for educational purposes.  Here's some examples.  They are all mostly the same, you get a big CCI spike down to say -250 - 350, then you get a positive divergence with the CCI, then you trigger off a doji candle or hammer that allows you to have a defined entry and stop.  Price is always way extended below the 9 EMA so that's your first target

KSHB - Chart Link, GVA - Chart Link, FCFS - Chart Link, BR - Chart Link

UVV - Chart Link, PRGO - Chart Link

$SPX - Chart Link- remember symmetry is fractal to the time frame you are watching.  On a short term 1 min chart intra day you had a symmetry break on the 2nd bounce, which told you to look for a lower high and you got it, if one bought that high low, in this high volatility environment that was 25 points!

$SPX - Chart Link- the longer time frame didn't break symmetry yet.  

again just showing that symmetry is fractal, use it to the time frame you can trade

here's a couple examples of my favorite day trade ES setup right now.  eventually I'll make a video about this.  

Apparently Tradestation added this custom renko bars a while back, they used to only be available in Ninja Trader.  Anyway my favorite setup is using a 4 tick box size with a 1 tick offset.  I added a few common indicators, but my main thing is price action and moving average configuration.  I add the 9 EMA in magenta, the 20 EMA in blue, and the 34 and 50 EMA's in yellow.  I don't pick top and bottoms, instead my favorite setup is to allow price to trend in a direction (up or down) which causes the moving averages to expand out.  You can see this with the candles going nicely above the moving averages, but also what happens is that the 9 EMA expands away from the slower 20 and 50 EMA's.  I then wait for price to pullback, and for the 9 EMA to pull back into the or close to the slower MA's.  I think place a buy a buy stop (if I'm looking for a long) at the price that would cause an up Renko. candle.  What's nice about the renko bars is that you know the exact price that will trigger a new bar, so you can set a buy stop at an exact price.  Should price continue lower and you don't get a reversal bar, no big deal, you cancel the buy stop.  My initial stop goes a tick or two below the reversal bar and I then trial it up over time should price go up like it is here.  

I also like to trade range bars since I can place exact buy stops for the next candles, I'll post an example of that too

Can you post one?  I have been in this since the 6's!  Thank you

BB has a nice looking weekly chart 

can you check?

i am a subscriber for how long?

the last fifteen years?

Nice breakout on TLRD.  Retailers seems to be perking up today.

NVROalso doing well.

That would be great Matt. It would be helpful if you also discuss how you use trailing stops and targets to stay in the trades. I used to be a member of BPT a while back but I got too busy at work to follow the site. I am now semi-retired and have plenty time off. I think you have the best trading service that I have seen on the Web. 

Thanks

Vertical Spread Options:

I am creating vertical spread call and put options on extended prices. Pro: I like that the position can only loose the cost of the options plus fees. Con: They expire and picking the price and duration is judgmental.

Do any of you trade these? If so I would like to hear your thinking.

PS: They might even be a good way to trade the SPY systems using in the money short term spreads.

is it a bull flag for higher ?

yes indeed you guys are on a roll!  thanks much! 

How about imagining celebrating your 25th with her.........OMG.....a good case for Kevorkian !!!

Thanks for posting the excellent charts

Steve or Matt, is there a link you can put on the site or lead me to it where we can see

this updated regularly?  Are the current systems still long or did they sell?

Answer: BPGDM still long BPENER reversed short on yesterday close. 

Traditional candlestick exited and/or short on GDX Monday and XLE last Thursday and something we have been harping on employing recently with prices quite extended. 

Steve, sorry I missed TZA on the watch list. I am not a day trader, more of a swing or longer teEM trader. I listen to your newsletters every day and I read the blog and I'm trying to learn. I'm still not as good as I want to be, but I smell an important top. Just because I dipped my toe in the pond, no need to squash me like a bug. 

Answer: No problem but give me a call to discuss so that we can avoid any confusion and help work out a trading plan that works with your time frames. I sent you a private message on your inbox with my number. 

mulisko, would be interested in that answer if you received one 

Maggi - I provided an answer to Mulisko below so please read it.

Because we use these terms daily – and confusedly – Ned Davis Research (as reported by Jeff Hirsch at the Stock Trader’s Almanac) has elucidated and clarified the definition of a bull and a bear market.

A cyclical bull market requires a 30% rise in the DJIA after 50 calendar days or a 13% rise after 155 calendar days. Reversals of 30% in the Value Line Geometric Index since 1965 also qualify. A bear cyclical market requires a 30% drop in the DJIA after 50 calendar days or a 13% decline after 145 calendar days. Reversals in the Value Line Geometric Index also qualify.” “Bull and bear markets are measured at peak and trough dates, so both the time and price criteria must be met as of the peak and trough dates.”