I haven't monitored it today, you did have a symmetry break on
the 5 min SPX, which gave you a good buy signal on the abc pullback
here
then zooming out on a 15 min yesterday's bounce broke symmetry,
so even with the pullback this morning one would have been on the
lookout for a higher low, which we got.
for me I find - I have to laser focus on this stuff, otherwise I
miss it - too many distractions looking at everything.
best advice I can give is to pick something, some style, maybe
it's monitoring for symmetry breaks, maybe trading coils, abc
patterns, best if you can just focus on one thing vs jack of all
trades - the website has Steve and I at a disadvantage at times
because we have to look at so many things vs focusing on one
thing
but you guys have it easier - just pick some style or pattern or
method you like, and focus on it. If all one did was trade coils,
or looked for symmetry breaks and bought the higher lows or lower
highs, those are great methods
so for example had I been focusing on symmetry I would have had
in my head that yesterday's rally broke symmetry on the 15 min
chart, then on this morning's sell off I would have been looking to
aggressive buy it for a long trade because I would know the odds
favored a higher low.
otherwise going forward, bullish view is that pullback was a
small wave 2, bearish view is this is a wave c up
Posted by timebandit on 16th of Sep 2021 at 03:18 pm
Bought KWEB earlier today based on this premise: symmetry break
with the last advance and yesterday's low was above (barely) the
late August low. We'll see if it works out. Volume not that strong
today (screenshot of Matt's chart)
Posted by timebandit on 16th of Sep 2021 at 04:02 pm
Yes, that was my thought. Stop below yesterday's low and was
seeing the same thing, possible MACD kiss/Slow Stoch setup. You put
that on my radar screen and it's something I look for now as a
factor in taking a trade. CORRECTION: stop below late August
low
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Matt or Steve Have either of
Posted by rfa300 on 16th of Sep 2021 at 01:33 pm
Matt or Steve
Have either of you noticed any intraday symmetry on the SPX since the drop this morning and recent bounce ? Thanks.
I haven't monitored it today,
Posted by matt on 16th of Sep 2021 at 02:55 pm
I haven't monitored it today, you did have a symmetry break on the 5 min SPX, which gave you a good buy signal on the abc pullback here
then zooming out on a 15 min yesterday's bounce broke symmetry, so even with the pullback this morning one would have been on the lookout for a higher low, which we got.
for me I find - I have to laser focus on this stuff, otherwise I miss it - too many distractions looking at everything.
best advice I can give is to pick something, some style, maybe it's monitoring for symmetry breaks, maybe trading coils, abc patterns, best if you can just focus on one thing vs jack of all trades - the website has Steve and I at a disadvantage at times because we have to look at so many things vs focusing on one thing
but you guys have it easier - just pick some style or pattern or method you like, and focus on it. If all one did was trade coils, or looked for symmetry breaks and bought the higher lows or lower highs, those are great methods
so for example had I
Posted by matt on 16th of Sep 2021 at 03:01 pm
so for example had I been focusing on symmetry I would have had in my head that yesterday's rally broke symmetry on the 15 min chart, then on this morning's sell off I would have been looking to aggressive buy it for a long trade because I would know the odds favored a higher low.
otherwise going forward, bullish view is that pullback was a small wave 2, bearish view is this is a wave c up
Thanks Matt, Appreciate the examples and
Posted by rfa300 on 16th of Sep 2021 at 04:09 pm
Thanks Matt,
Appreciate the examples and details. I'll be looking ahead for things like these.
Bought KWEB earlier today based
Posted by timebandit on 16th of Sep 2021 at 03:18 pm
Bought KWEB earlier today based on this premise: symmetry break with the last advance and yesterday's low was above (barely) the late August low. We'll see if it works out. Volume not that strong today (screenshot of Matt's chart)
MACD KISS, Stochastic oversold, could
Posted by matt on 16th of Sep 2021 at 03:45 pm
MACD KISS, Stochastic oversold, could probably employ a fairly tight stop
Yes, that was my thought.
Posted by timebandit on 16th of Sep 2021 at 04:02 pm
Yes, that was my thought. Stop below yesterday's low and was seeing the same thing, possible MACD kiss/Slow Stoch setup. You put that on my radar screen and it's something I look for now as a factor in taking a trade. CORRECTION: stop below late August low