SPY broke symmetry on this

    Posted by timebandit on 4th of Feb 2022 at 10:25 am

    SPY broke symmetry on this bounce. UPDATE: bought the pullback, we'll see if it pays out. NOPE. Stopped out.

    remember there's still some art

    Posted by matt on 4th of Feb 2022 at 10:37 am

    remember there's still some art to this, as is all of trading and technical analysis 

    I like the measure symmetry from the waves - vs the whole moves. again art so I do measure both, however here's your chart again that first move stalled at symmetry.  Also 4th waves can break sym, and drawing too soon in a trend you will get larger moves later on. Again it's still more of an art and a tool but still very useful 

    Thanks for this info nugget.

    Posted by jtsurfah on 4th of Feb 2022 at 10:43 am

    Thanks for this info nugget. I've been wondering why a chart will look like a symmetry break sometimes and you comment that it stalled at symmetry. Makes sense now (with your comment about waves vs. total move) 

    Gotcha. Still working to master

    Posted by timebandit on 4th of Feb 2022 at 10:39 am

    Gotcha. Still working to master the art. These lessons all contribute.

    I love that you are

    Posted by matt on 4th of Feb 2022 at 10:41 am

    I love that you are practicing the painting. That's what it takes to start getting a better feel for it, looking at as many charts as you can and practicing the method as much as possible - after a while you start to get a feel

    It's a wonderful tool. Well

    Posted by timebandit on 4th of Feb 2022 at 10:45 am

    It's a wonderful tool. Well worth playing with

    OK, this time I think

    Posted by timebandit on 4th of Feb 2022 at 11:48 am

    OK, this time I think SPY broke symmetry . I'm going to treat pullbacks as buying opps in the short term

    This is great a lot

    Posted by craigm on 4th of Feb 2022 at 11:51 am

    This is great a lot of us following short term symmetry in real time. I'm learning a lot. I think we need another small push up for a decisive break and then pullbacks can be bought. Would love to hear from Matt on this

    Looks like symmetry is broken

    Posted by mdgfain on 4th of Feb 2022 at 12:10 pm

    Looks like symmetry is broken to me. Could MATT  or STEVE confirm or deny, please?  Thanks. 

    Symmetry is a measurement instrument

    Posted by steve on 4th of Feb 2022 at 12:11 pm

    Symmetry is a measurement instrument - I trade off patterns preferably into support resistance 

    it's a tool to use

    Posted by matt on 4th of Feb 2022 at 12:13 pm

    it's a tool to use in conjunction with your other tools, patterns, price action

    just like you a you have a set of sockets - you need the socket wrench along with it to be useful

    Agreed, it looks really close.

    Posted by fredsaid on 4th of Feb 2022 at 12:07 pm

    Agreed, it looks really close.

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