I've learned to sit out certain periods being around you guys
here. Waiting for one of those strong waves to trade (wave 3) or a
reversion to mean system trade signal. I often take notes and it
does sink in over time, then I apply to my plan.
Sometimes I literally can't figure out where we are in the
waves. It usually seems like it is not clear until it is already
well in progress where we are.
It takes alot of experience (YEARS) - just like when I walk into
a Art Gallery with 1000 paintings on the wall - I have no idea
which painting is worth $1000 or $100,000
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SPX Fibs
Posted by steve on 20th of Oct 2022 at 11:22 am
$SPX - Chart Link
SPX unable to get above
Posted by steve on 20th of Oct 2022 at 12:43 pm
SPX unable to get above the Golden Zone (3724-3741) Fibs posted earlier and now breaking below 3681 would serve to confirm Wave A top (3762)
Trail those stops down guys
Posted by steve on 20th of Oct 2022 at 02:16 pm
Trail those stops down guys - 20+ points from even that last entry on SPX
With OPEX have to watch
Posted by steve on 20th of Oct 2022 at 02:23 pm
With OPEX have to watch for traps and wise to scale
Bounced right off 3681 to
Posted by fredsaid on 20th of Oct 2022 at 01:01 pm
Bounced right off 3681 to keep us guessing.
Am watching for a move
Posted by retirefire on 20th of Oct 2022 at 11:26 am
Am watching for a move up to 3741, 5 waves up?
NO - those are simply
Posted by steve on 20th of Oct 2022 at 11:28 am
NO - those are simply Fibs - forget about wave stuff and trade your signals
.786 is a FIB that I manually added as stockcharts does not reflect
You weren't kidding when talking
Posted by fundamentalvalues on 20th of Oct 2022 at 11:24 am
You weren't kidding when talking about this being a more complex pattern, chop city
Yes more complex FOR SURE
Posted by steve on 20th of Oct 2022 at 11:32 am
Yes more complex FOR SURE and thus I tend to AVOID trading the indices and prefer to focus on SELECT NAMES
Choppy areas, hope to get
Posted by apple on 20th of Oct 2022 at 12:31 pm
Choppy areas, hope to get a system trade soon.
I've learned to sit out
Posted by fundamentalvalues on 20th of Oct 2022 at 11:34 am
I've learned to sit out certain periods being around you guys here. Waiting for one of those strong waves to trade (wave 3) or a reversion to mean system trade signal. I often take notes and it does sink in over time, then I apply to my plan.
Very WISE - the main
Posted by steve on 20th of Oct 2022 at 11:38 am
Very WISE - the main purpose of mapping is to identify a potential Wave 3 or C (those are the premier waves to trade)
Wave B's are notorious for making fool's out of traders (me very much included)
Sometimes I literally can't figure
Posted by fundamentalvalues on 20th of Oct 2022 at 11:41 am
Sometimes I literally can't figure out where we are in the waves. It usually seems like it is not clear until it is already well in progress where we are.
It takes alot of experience
Posted by steve on 20th of Oct 2022 at 11:44 am
It takes alot of experience (YEARS) - just like when I walk into a Art Gallery with 1000 paintings on the wall - I have no idea which painting is worth $1000 or $100,000