As per Matt's comments earlier, the current setup should be an
opportunity to take a low-risk short while the signal is still red.
Matt might comment on this in his newsletter tonight.
According to the logic of the indicator, the trend has turned
down. However, bounces up for up to three days do not change the
trend. One Friday we had one such bounce and there could e two more
days of that to come, based on the indicator.
A stop should be tight under yesterday's lows? I have a feeling
that this saurcer formation will break down like that on GDX a
couple of weeks ago. If broken, it's a 10 point drop down to
1955ish, isn't it?
Pardon me, if I am asking the same question. Where should have
been my stop on my short going into this morning if I trade
on daily charts: at the 50% of yesterday's solid candle (from open
to close)?
And the second question: since the price exceeded the size of
yesterday's candle (so we have had an
outsideday today), is the downtrend now over? Or
how would I be able to answer that question?
And for a longer trade? $RUT is making lower highs and lower
lows. I have 1140 as support. Would breaking it a good entry to
test its recent lows from August? Thank you, Steve!
try entering at a retest of yesterday's breakdown if that
happens. Or wait for a bounce in $gold. $gold is oversold on the
weekly charts but there is no positive divergence yet. A chance to
short was at a breakdown of 1270.
And as a possibility, if Scotland votes yes, $gold will fly like
a rocket. It's a close call out there.
there is positive divergence on daily charts of $gold, this is
not a place to go short. I would be a buyer of $gold after a flush
to 1190ish area, and it may happen this week.
What's a likely target of this drop in terms of strong support?
You mentioned the cluster/pivot range of 1973 (+ or - 7 points). Is
it 1973 or some other number? Thanks!
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Broken symmetry to the upside on $SPX
Posted by junkie on 10th of Oct 2014 at 12:09 pm
http://stockcharts.com/h-sc/ui?s=$SPX&p=10&b=5&g=0&id=t04269930139&a=157796568&r=1412799486512&cmd=print
The 11 point upmove has been exceeded on a move from 1912 to 1928.
Title: thanks for your updates,
SPX
Posted by junkie on 9th of Oct 2014 at 01:40 pm
Thank you for your updates! Please keep posting on your trades and your own comments, as I took a heavy short position at 1947.
Canadian stock index $TSX broke its channel and is due for a test
Posted by junkie on 28th of Sep 2014 at 05:07 pm
http://stockcharts.com/h-sc/ui?s=$TSX&p=D&yr=2&mn=0&dy=0&id=p63694167218&a=182867870&listNum=6
A backtest will come around 15350-500.
Title: this should be an
BPT MA Deluxe
Posted by junkie on 28th of Sep 2014 at 03:49 pm
As per Matt's comments earlier, the current setup should be an opportunity to take a low-risk short while the signal is still red. Matt might comment on this in his newsletter tonight.
According to the logic of the indicator, the trend has turned down. However, bounces up for up to three days do not change the trend. One Friday we had one such bounce and there could e two more days of that to come, based on the indicator.
Title: stops are tight below
SPX 3 Updated View
Posted by junkie on 26th of Sep 2014 at 01:32 pm
A stop should be tight under yesterday's lows? I have a feeling that this saurcer formation will break down like that on GDX a couple of weeks ago. If broken, it's a 10 point drop down to 1955ish, isn't it?
Title: more trading questions Pardon me,
SPX Daily
Posted by junkie on 24th of Sep 2014 at 05:31 pm
Pardon me, if I am asking the same question. Where should have been my stop on my short going into this morning if I trade on daily charts: at the 50% of yesterday's solid candle (from open to close)?
And the second question: since the price exceeded the size of yesterday's candle (so we have had an outsideday today), is the downtrend now over? Or how would I be able to answer that question?
Thank you in advance for your answers, Steve!
Title: how to trade this
SPX 60 View
Posted by junkie on 24th of Sep 2014 at 04:44 pm
How would you recommend to trade that setup? A stop from 2006 to 2019 is too loose, in my opinion in terms of risk/reward ratio.
Also, is your ending diagonal scenario still valid?
RUT
RUT 15 View
Posted by junkie on 19th of Sep 2014 at 12:30 pm
And for a longer trade? $RUT is making lower highs and lower lows. I have 1140 as support. Would breaking it a good entry to test its recent lows from August? Thank you, Steve!
Russell short
Posted by junkie on 19th of Sep 2014 at 12:20 pm
What would be an objective entry for $RUT short?
http://stockcharts.com/h-sc/ui?s=$RUT&p=D&yr=0&mn=6&dy=0&id=p93787282078&a=125481557&listNum=61
Title: be careful shorting around
GDX
Posted by junkie on 18th of Sep 2014 at 07:43 am
try entering at a retest of yesterday's breakdown if that happens. Or wait for a bounce in $gold. $gold is oversold on the weekly charts but there is no positive divergence yet. A chance to short was at a breakdown of 1270.
And as a possibility, if Scotland votes yes, $gold will fly like a rocket. It's a close call out there.
It's really tempting to short
Head and Shoulders formations on $CAD,$XAD,$XJY, a breakout of $USD
Posted by junkie on 18th of Sep 2014 at 07:27 am
It's really tempting to short $CAD right now: could anyone suggest a good stop size? 50 pips is not going to fly...
there is positive divergence on
GDX
Posted by junkie on 18th of Sep 2014 at 07:23 am
there is positive divergence on daily charts of $gold, this is not a place to go short. I would be a buyer of $gold after a flush to 1190ish area, and it may happen this week.
Title: Head and Shoulders formations
Posted by junkie on 18th of Sep 2014 at 12:14 am
http://rambus1.com/?p=27289
Title: Where is a strong
Dow 15
Posted by junkie on 12th of Sep 2014 at 12:16 pm
What's a likely target of this drop in terms of strong support? You mentioned the cluster/pivot range of 1973 (+ or - 7 points). Is it 1973 or some other number? Thanks!
Title: Potential Precious Metals Meltdown
Posted by junkie on 9th of Sep 2014 at 07:27 pm
http://rambus1.com/?p=26918
He predicts a 50% drop in GDX, a low in $gold between $985 and $1034, and $silver again below $7. There is very good chartlogy in that article.
http://breakpointtrades.com/market_analysis/legacy.php?nl_id=2184
Newsletter?
Posted by junkie on 9th of Sep 2014 at 02:53 am
http://breakpointtrades.com/market_analysis/legacy.php?nl_id=2184
Title: BPT MA deluxe is
Posted by junkie on 7th of Sep 2014 at 12:28 pm
http://bpt-news-images.s3.amazonaws.com/0048361001409947242.png
It looks like it's still a buy on the daily charts
watch a bounce in Euro
Posted by junkie on 7th of Sep 2014 at 11:53 am
http://www.insidefutures.com/charts/index.php?sym=E6U14&type=CANDLE&a=D&studies=RSI;MACD
It's headed to 128 at least, and 125 after that.
Yen is backtesting its neckline
YCS (Short Yen)
Posted by junkie on 7th of Sep 2014 at 11:39 am
http://rambus1.com/?p=26863
Perhaps after a bounce up it would break down
http://rambus1.com/wp-content/uploads/2014/09/ABCD-REVERSE-SYMMEETRY-GAPS.png
For a retest of the
SPX 5 min intra day
Posted by junkie on 18th of Aug 2014 at 05:37 pm
For a retest of the recent highs on $SPX, a buy point is at the close today or higher?