simmon- that's
what triangles do, see my post from yesterday. Triangles are
an emotional roller coaster for traders i.e. one day the 'Bear's
feel like they are winning, the next day the 'Bulls' feel like they
are winning, etc. Triangles are notorious for chopping
traders up.
that's why if you can see that a triangle will form, it's best
to either sit out in cash and avoid the chop slop, or buy support
at the bottom of the triangle, and sell resistance at the top of
the triangle
triangles can be great for day trade set ups...in and out easy
peasy...just cant get greedy....and if you are lucky, you might
just find yourself positioned perfectly when it breaks and have a
super nice ride!!
Well, it's certainly nice to see some volatility back in the
markets. The FED has suffocated volatility with the melt up in the
markets. There hasn't been much premium on options for a while
now.
Triangles are good for contrarian traders. Most traders aren't
contrarion imo. It's better for most to sit out because it catches
many traders on the wrong side of the trade.
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10 pts move in 1
spx15,megaphone/inverse h&s...
Posted by simmon on 9th of Mar 2011 at 12:03 pm
10 pts move in 1 HR...wow getting really sick....Comp Algos are fighting each other
simmon- that's what triangles do, see
Posted by matt on 9th of Mar 2011 at 12:05 pm
simmon- that's what triangles do, see my post from yesterday. Triangles are an emotional roller coaster for traders i.e. one day the 'Bear's feel like they are winning, the next day the 'Bulls' feel like they are winning, etc. Triangles are notorious for chopping traders up.
that's why if you can see that a triangle will form, it's best to either sit out in cash and avoid the chop slop, or buy support at the bottom of the triangle, and sell resistance at the top of the triangle
triangles can be great
Posted by perthx on 9th of Mar 2011 at 12:38 pm
triangles can be great for day trade set ups...in and out easy peasy...just cant get greedy....and if you are lucky, you might just find yourself positioned perfectly when it breaks and have a super nice ride!!
Well, it's certainly nice to
Posted by cw12 on 9th of Mar 2011 at 12:46 pm
Well, it's certainly nice to see some volatility back in the markets. The FED has suffocated volatility with the melt up in the markets. There hasn't been much premium on options for a while now.
Triangles are good for contrarian
Posted by cw12 on 9th of Mar 2011 at 12:10 pm
Triangles are good for contrarian traders. Most traders aren't contrarion imo. It's better for most to sit out because it catches many traders on the wrong side of the trade.