One thing is that we really didn't see the fear gauge ramp as
yet (many like to see for a significant bottom)..continue to
trade what's in front of you.
The triangle scenario (still intact) would not see such
capitulation (to confirm must see a THRUST above
trendline)
No it's too early to day. If the market closes with a
hammer it's possible that the triangle scenario is the one playing
out and that could be wave e. For triangle patterns you won't
have the capitulation washout for a wave e that is inside the
triangle pattern. You would only get that capitulation washout for
a wave C or abcXabc type pattern. A hammer formed today is a
positive but you still can't say for certain which pattern it is,
NO ONE CAN, it's too early. If you are long, have a stop at
today's lows, or go long if price goes higher and breaks the
downtrend line. The market is in this choppy narrowing
range, it chops people up, best to take profits more quickly when
the market is not trending and is in a pattern like this.
one thing we can't do is give direct trading advice legally.
also everyone is doing something different, plenty of people
might have went long for a day trade off the symmetry break, others
might see the hammer and decide to try a swing long with a stop at
the doji low. Others may be short, who knows. But what
we do know is that the market is very choppy as evident of this
large triangle pattern and is not trending.
trading is not about certainties, it's about seeing
opportunities and taking shots when you see good risk reward.
Please stop with the disparaging comments, we do a good job
at giving you guys powerful tools like symmetry, education etc, you
seem to be annoyed because we can't say with 100% certainty which
one it is, that's ridiculous
cool - hope that helps. I'm torn here too. If you asked
me, I was honestly hoping that the market would have stayed down
and sold more the next several days and washed out with the abcXabc
playing out, that would provide really great long opportunity.
With today's reversal the triangle could still be intact. If
one had to be long, seems like a stop could go at today's lows now.
Otherwise given the volatility we are seeing just because a
doji forms doesn't mean that the market can't reverse again
tomorrow or next week and go back down again to new lows. It's too
early to call now, both options are still valid at this point, but
today's recovery is a positive for now.
Ducati - quite frankly you question is NOT clear at all.
What instrument are you referencing. In case you're not
aware, we cannot provide direct investment advice.
If you want to know - I sold part of my EZPW as part of my
plan
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One thing is that we
Posted by steve on 3rd of May 2018 at 02:24 pm
One thing is that we really didn't see the fear gauge ramp as yet (many like to see for a significant bottom)..continue to trade what's in front of you.
The triangle scenario (still intact) would not see such capitulation (to confirm must see a THRUST above trendline)
Are saying that there is
Posted by ducati on 3rd of May 2018 at 02:42 pm
Are saying that there is a greater possibility to back below the 200 again . Isn' todays candle very bullish
No it's too early to
Posted by matt on 3rd of May 2018 at 03:12 pm
No it's too early to day. If the market closes with a hammer it's possible that the triangle scenario is the one playing out and that could be wave e. For triangle patterns you won't have the capitulation washout for a wave e that is inside the triangle pattern. You would only get that capitulation washout for a wave C or abcXabc type pattern. A hammer formed today is a positive but you still can't say for certain which pattern it is, NO ONE CAN, it's too early. If you are long, have a stop at today's lows, or go long if price goes higher and breaks the downtrend line. The market is in this choppy narrowing range, it chops people up, best to take profits more quickly when the market is not trending and is in a pattern like this.
one thing we can't do is give direct trading advice legally. also everyone is doing something different, plenty of people might have went long for a day trade off the symmetry break, others might see the hammer and decide to try a swing long with a stop at the doji low. Others may be short, who knows. But what we do know is that the market is very choppy as evident of this large triangle pattern and is not trending.
trading is not about certainties, it's about seeing opportunities and taking shots when you see good risk reward. Please stop with the disparaging comments, we do a good job at giving you guys powerful tools like symmetry, education etc, you seem to be annoyed because we can't say with 100% certainty which one it is, that's ridiculous
Than you , that is
Posted by ducati on 3rd of May 2018 at 03:15 pm
Than you , that is all I was asking
cool - hope that helps.
Posted by matt on 3rd of May 2018 at 03:25 pm
cool - hope that helps. I'm torn here too. If you asked me, I was honestly hoping that the market would have stayed down and sold more the next several days and washed out with the abcXabc playing out, that would provide really great long opportunity. With today's reversal the triangle could still be intact. If one had to be long, seems like a stop could go at today's lows now. Otherwise given the volatility we are seeing just because a doji forms doesn't mean that the market can't reverse again tomorrow or next week and go back down again to new lows. It's too early to call now, both options are still valid at this point, but today's recovery is a positive for now.
Today is not yet complete...
Posted by steve on 3rd of May 2018 at 02:48 pm
Today is not yet complete...
So would you take profits
Posted by ducati on 3rd of May 2018 at 02:49 pm
So would you take profits or hold in hopes of a couple more days up
Take profits on what exactly?
Posted by steve on 3rd of May 2018 at 02:50 pm
Take profits on what exactly? Trade your plan in accordance with your style and don't be concerned with others who may have a different approach.
Man how much clear can
Posted by ducati on 3rd of May 2018 at 02:51 pm
Man how much clear can I be
Ducati - quite frankly you
Posted by steve on 3rd of May 2018 at 02:52 pm
Ducati - quite frankly you question is NOT clear at all. What instrument are you referencing. In case you're not aware, we cannot provide direct investment advice.
If you want to know - I sold part of my EZPW as part of my plan