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just a back test of

Posted by roger on 23rd of Feb 2021 at 03:56 pm

just a back test of the neckline

LABU back inside the channel

Posted by roger on 22nd of Feb 2021 at 04:14 pm

LABU back inside the channel or the W pattern completed

SPY 60 sporting a potential

Posted by roger on 21st of Feb 2021 at 01:11 pm

SPY 60 sporting a potential inverse head and shoulders

I meant quarterly, not monthly but you get the picture

for example, when looking at the quarterly chart, the huge drop down to the neckline last year is not so surprising when looking at the big picture, and buying at the neckline made good sense,  and shorting at the top of the right shoulder will make good sense.  

I have the right shoulder lower than the left because I expect a weaker right shoulder for the reasons stated below.

I look at the longer term charts all the time because it helps to see the big picture and more confidence in swing trades.

When you think of it a monthly chart looks the same as a 60 min chart without the noise

The back test of the 34 ema is only 6 bucks away and the 13 only 2 dollars away.  It may be sooner than you think.

XLE  going to make a

Posted by roger on 12th of Feb 2021 at 04:59 pm

XLE  going to make a good short in not too distant future.  Textbook head and shoulders in the making.

Right shoulder maybe up to the 13/34 ema's  which are crossed down now.  Huge negative divergence.  (hugh in internet lingo)

what is odd is that the money flow is red (negative) on the chart. 

 To me it says this move is on low volume and a reverse action could be rewarding

That, and the stochastic as shown tends to cycle very well.  Now o\b

when it tags the line there might  be  a good reversion to the mean trade

I mean this thing is just going parabalic

yeah,  I think that trendline has been a magnet technically too

LABU nearing the top rail

Posted by roger on 8th of Feb 2021 at 02:17 pm

LABU nearing the top rail of this humongous 'W' pattern.  

Since it has been one of the big drivers, maybe this will signal some sort of top 

GDX  and miners - my

Posted by roger on 31st of Jan 2021 at 06:27 pm

GDX  and miners - my chart shows a good chance of a drop and pop tomorrow.  

LPI - here's one I saved in my chart list to see how it aged over time.  I kidded Steve that it didn't  look so hot on the monthly chart even though it provided a good short term trade.

The blue vertical line was the initial trade on the 11th and shortly after it began dropping like a rock until it hit bottom a year and a half later after a 24X haircut.  

That means if you had shorted it with $100,000 it would have been worth roughly 2 1/2 million at the bottom.

That's why I like to look at weekly and monthly charts.  It eliminates the noise of the daily charts and allows you to see the major trend, patterns, ect.

In this case four trending indicators were negative at the time on the monthly chart - moving averages, aroon, psar, and vortex.  

In contrast, the daily chart just looked like noise.

Which trade would you have liked to take.  Both is a good answer.   

almost there, don't stop now

I'd like to see it hit the overbought line in green on this move

has to get moving soon though

SPXS right shoulder yesterday with

Posted by roger on 29th of Jan 2021 at 11:17 am

SPXS right shoulder yesterday with psar buy signal

fighting with the neckline

MUX monthly measured move takes

Posted by roger on 29th of Jan 2021 at 10:57 am

MUX monthly measured move takes it to the long term downtrend line.   Has the psar buy signal 

I use psars on all my charts and trust me, they work.  A weekly chart gives the bigger picture whereas the daily is just noise sometimes

text book inverse head and shoulders too

TRX - weekly inverse head

Posted by roger on 29th of Jan 2021 at 10:09 am

TRX - weekly inverse head and shoulder with psar buy for a month

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