well...even with the melt up on the market, the SPY and ES
exhaustion short trades still have not triggered, it's tough to
trigger those, and shows you how stringent and overbought things
have to get before that system triggers. Plenty of times in the
past the market had even stronger runs to trigger that
Posted by DigiNomad on 19th of Dec 2023 at 04:34 pm
Do your exhaustion systems wait for a trigger to trigger?
E.g. I wouldn't think you would get a system trigger without
first getting a pullback or two (it's hard to get divergences on a
daily chart when a bad day is sideways and the rest of the days are
up)
Exhaustion short no - it triggers off the highs. Sometimes those
exhaustion shorts can be great shorts picking a decent high,
HOWEVER most of the time you just get a mean reversion pullback in
the uptrend and if you wait for a reversal trigger you give up too
much waiting for the reversal confirmation. But again, a lot of
things have to line up for that condition to trigger such as like
> 30 consecutive days above a short term MA, and RSI >
a certain level, and %R in the upper 90's etc
GOOGL--diamond- whichway ?--- forgive
Posted by Glad on 19th of Dec 2023 at 04:13 pm
GOOGL--diamond- whichway ?--- forgive my poor artwork
I'd really just label GOOGLE
Posted by matt on 19th of Dec 2023 at 04:28 pm
I'd really just label GOOGLE as a coil intead of a diamond
Higher! Tomorrow will be 10
Posted by DigiNomad on 19th of Dec 2023 at 04:22 pm
Higher!
Tomorrow will be 10 days up in a row and we're closing in on an 8 week in a row winning streak.
To the moon! Diamond hands, etc, etc.
well...even with the melt up
Posted by matt on 19th of Dec 2023 at 04:27 pm
well...even with the melt up on the market, the SPY and ES exhaustion short trades still have not triggered, it's tough to trigger those, and shows you how stringent and overbought things have to get before that system triggers. Plenty of times in the past the market had even stronger runs to trigger that
Do your exhaustion systems wait
Posted by DigiNomad on 19th of Dec 2023 at 04:34 pm
Do your exhaustion systems wait for a trigger to trigger? E.g. I wouldn't think you would get a system trigger without first getting a pullback or two (it's hard to get divergences on a daily chart when a bad day is sideways and the rest of the days are up)
Exhaustion short no - it
Posted by matt on 19th of Dec 2023 at 04:35 pm
Exhaustion short no - it triggers off the highs. Sometimes those exhaustion shorts can be great shorts picking a decent high, HOWEVER most of the time you just get a mean reversion pullback in the uptrend and if you wait for a reversal trigger you give up too much waiting for the reversal confirmation. But again, a lot of things have to line up for that condition to trigger such as like > 30 consecutive days above a short term MA, and RSI > a certain level, and %R in the upper 90's etc
when was the last time
Posted by icecoldjones on 19th of Dec 2023 at 04:25 pm
when was the last time this happened? for those quick with the charts