I updated the spreadsheet for the SSO, which technically would
have been stopped out yesterday at #6 stop. Again it was VERY
close, and had the stop been just a tiny bit below the ATR
indicator it would not have. I think if one was still in, your stop
would now be at yesterday's lows - notice the fast BPT MA Deluxe
went red to green so that's where the stop would be if it was still
long. Nonetheless I updated the spreadsheet anyway, here's
the image and it's on the website of course. The question is
now this bounce is it a (b) bounce. We are below the ATR
indicator, so I could see this as an (abc) move down even for a
bullish cash would be better for a (c) down honestly.
The daily SPX - the fast BPT MA is now red again - this is
important because the stop on the daily would be that wave B
pullback a couple weeks ago way down there at 2445. I would move
the stop though just below the ATR indicator as I show via the
white dotted line i.e. maybe 2250. Now that the fast BPT MA
is red, once it goes green then the stop can move up to there.
Another question I had from some of you, you asked me didn't the
MACD confirm above zero, the 60 Stochastic confirm above 50%? Yes
it did, I discussed that on Monday's newsletter in fact. Again for
me in this market I prefer not to trigger on a daily, the moves are
too fast right now. If you were trading off the daily you would buy
a pullback near the ATR instead.
BPT MA Deluxe and DVTS updated comments
Posted by matt on 22nd of Apr 2020 at 12:53 pm
I updated the spreadsheet for the SSO, which technically would have been stopped out yesterday at #6 stop. Again it was VERY close, and had the stop been just a tiny bit below the ATR indicator it would not have. I think if one was still in, your stop would now be at yesterday's lows - notice the fast BPT MA Deluxe went red to green so that's where the stop would be if it was still long. Nonetheless I updated the spreadsheet anyway, here's the image and it's on the website of course. The question is now this bounce is it a (b) bounce. We are below the ATR indicator, so I could see this as an (abc) move down even for a bullish cash would be better for a (c) down honestly.
The daily SPX - the fast BPT MA is now red again - this is important because the stop on the daily would be that wave B pullback a couple weeks ago way down there at 2445. I would move the stop though just below the ATR indicator as I show via the white dotted line i.e. maybe 2250. Now that the fast BPT MA is red, once it goes green then the stop can move up to there.
Another question I had from some of you, you asked me didn't the MACD confirm above zero, the 60 Stochastic confirm above 50%? Yes it did, I discussed that on Monday's newsletter in fact. Again for me in this market I prefer not to trigger on a daily, the moves are too fast right now. If you were trading off the daily you would buy a pullback near the ATR instead.
sorry Matt this might be
Posted by erikvik on 22nd of Apr 2020 at 01:36 pm
sorry Matt this might be a silly question for those familiar with the BPT system, but is it long only? or do you use it to go short as well?