IDK hard to say. anyway price hasn't yet taken out
Thanksgiving week high so it technically could still form a
lower high or double top. However this could also just
be the 5th wave. Price action is king for now
anyway SPY system long from Tues that's doing well
obviously
again you have to understand symmetry first off. The long term
symmetry was never broken i.e. pullbacks for the whole year.
Symmetry is fractal, so while the symmetry from early Oct was
broken the bigger symmetry was not. Symmetry is a guild and works
well but it's not 100% and that's what makes a market.
secondly and I've talked about this before, however I think
you've been gone and only recently came back so you might not be
versed on symmetry
Whenever a symmetry is broken you generally form a lower high or
higher low, HOWEVER it doesn't always mean that price retraces all
the way.
for example in an uptrend after breaking a symmetry, you might
form a lower higher, which is really just a pause, then only get a
small pullback but that pull back doesn't go all the way back to
take out the low, then price goes right back up.
and of course remember on daily charts we are in that Stochastic
momentum condition, I said this week that the pullback was most
likely some sort of 4th wave, and also I talked about how sentiment
is too bearish, traders got as bearish as the Oct low on that tiny
pullback Monday and Tuesday, and when you see stuff like that the
market isn't ready to drop,
Thank you for clarifying it, Matt! I did not believe there _was_
a symmetry break, the whole thing looked to me like a stop run up
to daily time frames. The stop on the daily ES was 3073, and
the low was 3069. However, the close at the end of the day is what
matters, so if one were to hold a hard stop on ES, one would have
been faked out of a long position.
I did not expect a drop all the way either, as 4th waves are
triangles contracting to the apex.
I did put my account flat after a symmetry break, so I am not
benefiting from this run up. But I have not lost anything in the
process either.
This looks like a repeat of 2017 Sept to January of 2018. HFTs
merely buy the heck of this market before everybody else could.
Your old ES system went long near 3015 and has stayed long since
on various subsystems, by the way. Kudos to you and it for it!!
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IDK hard to say. anyway
so who is going to short this market?
Posted by matt on 6th of Dec 2019 at 11:05 am
IDK hard to say. anyway price hasn't yet taken out Thanksgiving week high so it technically could still form a lower high or double top. However this could also just be the 5th wave. Price action is king for now
anyway SPY system long from Tues that's doing well obviously
again you have to understand symmetry first off. The long term symmetry was never broken i.e. pullbacks for the whole year. Symmetry is fractal, so while the symmetry from early Oct was broken the bigger symmetry was not. Symmetry is a guild and works well but it's not 100% and that's what makes a market.
secondly and I've talked about this before, however I think you've been gone and only recently came back so you might not be versed on symmetry
Whenever a symmetry is broken you generally form a lower high or higher low, HOWEVER it doesn't always mean that price retraces all the way.
for example in an uptrend after breaking a symmetry, you might form a lower higher, which is really just a pause, then only get a small pullback but that pull back doesn't go all the way back to take out the low, then price goes right back up.
and of course remember on daily charts we are in that Stochastic momentum condition, I said this week that the pullback was most likely some sort of 4th wave, and also I talked about how sentiment is too bearish, traders got as bearish as the Oct low on that tiny pullback Monday and Tuesday, and when you see stuff like that the market isn't ready to drop,
Thank you for clarifying it,
Posted by junkie on 6th of Dec 2019 at 11:23 am
Thank you for clarifying it, Matt! I did not believe there _was_ a symmetry break, the whole thing looked to me like a stop run up to daily time frames. The stop on the daily ES was 3073, and the low was 3069. However, the close at the end of the day is what matters, so if one were to hold a hard stop on ES, one would have been faked out of a long position.
I did not expect a drop all the way either, as 4th waves are triangles contracting to the apex.
I did put my account flat after a symmetry break, so I am not benefiting from this run up. But I have not lost anything in the process either.
This looks like a repeat of 2017 Sept to January of 2018. HFTs merely buy the heck of this market before everybody else could.
Your old ES system went long near 3015 and has stayed long since on various subsystems, by the way. Kudos to you and it for it!!