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F5.6 And Be There!
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F5.6 And Be There!

by The MoleAugust 23, 2012

After having suffered through several sideways summer snoozer weeks we are finally off to the races. Booyaka! Almost all of our setups posted earlier this week are proceeding nicely. Which is our well deserved reward for remaining focused and not getting distracted by either the news or the noise. The tape has been moving fast and now it’s time to start taking profits on some of our setups. We also have new exciting victims in the bullpen so let’s jump right in:

Real quick before we get to our setups – here’s a chart I emailed to my subs before the NYSE open. Due to two engulfing candles we were seeing a very interesting setup on the S&P E-Mini. At the time we were inside two opposing Net-Lines placed less than eight handles apart.

Well, I hope you took the short entry as we are well on our way. Given the NLSL breach and the exhaustion candle two days earlier (touching our 100-day Bollinger band) I think it is worth holding a few lottery tickets for a stab lower. And yes, there may be a retest of that NLSL – it’s admissible to take partial profits after a long down candle like this – especially early in a correction.

Gold – after testing our patience for two weeks we finally got our entry on Tuesday morning. Hard to believe we proceeded to our first target range two sessions later. I would take partial profits here.

More longer term I however believe that gold could push quite a bit higher. We got a prime entry and I think it’s worth keeping some of those positions in the running for an advance higher. We may see a little counter reaction here however, so be prepared for that. The targets shown above are medium to long term – please keep that in mind.

Silver – still in the running but I would take a few positions off the table as it will probably respond to a temporary weakness in gold. My first target range is highlighted above near 31.74.

Here is silver’s medium to long term panels. And again I think that more upside is a possibility as well.

Treasuries – the 30-year is pushing our buttons a little. I got stopped out back at the 100-day SMA but did not take a long positions due to the NLBL right above. This would be my next attempt for a short position – or of course a long if it manages a breach.

EUR/USD – that was a fine clean inside day entry and we are near target. I will start scaling out and then wait for instructions at the Maginot Line.

USD/CHF – another fine ID entry and we are approaching the 100-day SMA. Which means it’s time to start banking coin.

Alright, time to dive into a few more setups – a stainless steel rat never rests. Being a trader is a bit like being a photographer: F5.6 and be there! Meaning – be patient, don’t over think it, and be there when opportunities present themselves.
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More charts and non-biased commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
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AUD/JPY – this one may be a bit late in the game but I like this SMA breach. If you are in it hold it until support. If not (more likely) then I would wait for support or take it on a 25-day SMA retest (a.k.a. last kiss goodbye).

CAD/JPY – sell signal and now approaching its Maginot Line plus the 25-day SMA. As you know I like entangled SMAs as that raises the odds of support/resistance. I would be long there with a stop below the 25-day SMA. If both SMAs are breached I would definitely flip it for a short positions as there’s nothing but air below.

More on the currency theme: EUR/JPY is honoring us with a double inside day + NR4 (fourth narrowest range day). You know what to do – if not check the cheat sheet to get up to speed on how to trade inside days.

I’m patiently waiting for a long breach on Cotton. Yes, a reversal play on a touch is possible but I think a short squeeze will pay the big bucks. Keep an eye on this puppy – be assured that I will.

Similar setup but in the making right now over in copper. This thing is coiled up to the max and an SMA breach promises to accelerate us higher. Of course it’s permissible to be short until that happens.

ZN – a bit more advanced than ZB, so I thought I’d post it as a setup. You know the rules – a breach is a long and a failure keeps the down trend intact.

Our discipline and patience has been paying off in spates this week. So let’s not get complacent and stick with our game. Now go out there and have fun but keep it frosty.

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Public Service Announcement: From the who is honoring me now department – I am proud to announce that Evil Speculator made it to number four of the top 100 option trading sites. Irks me a little that we didn’t make into the trop three but I assure you that this oversight will be remedied by next year. You all should be very proud as this place wouldn’t be what it is without every single of you guys. The comment section has been on fire all year, even through the dire summer months, and rarely do I have to resort to moderation. Everyone is focused and to the point but we manage to keep it fun. I will work hard to make this place even better. And I hope all my steel rats will be along for the ride and of course bank mighty coin in the process. Thanks guys!

Cheers,


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at various social media waterholes below.
  • Darth_Gerb

    DG picked up some GLD, important line crossed. long term position.
    http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=3&mn=0&dy=0&id=p05298461632 

  • Skynard

    Puts back on:)

  • StrikeFirst

    Congrats Mole.

    If I check out some of those other blogs on the list…. does that make me a bad person?

  • AMCabrera

    This place is really unique. This place feels like family.

  • I Bergamot

    Congrats, you deserve it.

  • http://evilspeculator.com molecool

    And you’re the crazy uncle :-)

  • http://evilspeculator.com molecool

    Persona non grata!

  • Skynard

    No clear div on the ZL 5 min yet.

  • Skynard

    Hehehe!

  • ridingwaves

    I ment’d ROSG a couple times over last month…

    boom….

  • Darth_Gerb
  • Skynard

    Wow! Nice pick Bro. Will pay more attention:)

  • DarthTrader

    /ES made it to 1398 then bounced just .50 above the ABC target of 1397.50.   Quite often if a market stopped just before a target price level it is building cause (marshaling it’s forces) to blow on through.  I took some profits and redeployed in expectation of further downside tomorrow.

  • Skynard

    Oh come on, take out SPX 1400 for fuck’s sake!

  • Darth_Gerb

    UUP update.
    Fan line approaching.
    http://s16.postimage.org/ob0t8259f/UUP.png

    Mole, sorry for the piss.
    I shall use a urinary bag from here on out.
    A crumb from the lair door is finer that the biggest feast at the hearth of other forums.
    -DG

  • BobbyLow

    Came close to my stop on Crude today but it’s not going to hit.

    This is a tough one because I think that my stop will probably get hit tomorrow so I should close today at a better price.

    But then again, why have a rule for a stop if I’m not going to use it?

    Sooooooo, we’ll see what tomorrow brings.  

    Just thinking out loud.     :)

  • DarthTrader

    Read my comment below

  • Darth_Gerb

    break a rule, then again, then again..   then you’re a rule breaking junkie.

  • finansreven

     http://www.youtube.com/watch?v=L397TWLwrUU

  • newbfxtrader

    lol /cl making an outside reversal to the downside. What do you think?

  • Rightside_ot_trade

    /ZW yesterday’s ID NR4 almost got 2R today,
    now under 25DMA and back inside weekly 100 BB’s

  • AmazingLarry

    They don’t call you Molecool for nuttin.

    I will shamefully admit I spent many many wasted hours at ZeroEdge when I could have been here gettin my account PHAT! Luckily my positions started small so I didn’t get wiped out. Really kick myself for that, but every rat has to find his way through this maze somehow. Just need to close some positions and I’m subbing; no more dinking around. 

  • Skynard

    Been short /ZW & /ZS, took some heat but green now. /ZW has been puttering around the 62 a few times and now looks good.

  • http://evilspeculator.com molecool

    Thank you for the kind words, Larry. And hey, better late than never 😉

  • http://evilspeculator.com molecool

    I somehow forgot to post this chart today – not sure why. In essence I would use that NLSL as the stop out point.

  • Skynard

    Sorry that I missed it but it’s been lingering around the 62 for 3 days now. Mole just posted a chart w/ the NLSL and would be short there.

  • AMCabrera

    EUR/JPY is about as simple as it gets. Check out the daily chart. I will go short or go long and very willing to deal with whips and saws.

  • BobbyLow

    Thanks Mole.

  • Darth_Gerb

    Copper overstepped it’s bounds today.  but held it’s ground.
    http://stockcharts.com/h-sc/ui?s=$COPPER&p=D&yr=0&mn=2&dy=0&id=p23099564834 

    -DG

  • amokta

    So many free charts – for a minute, i thought Mole had forgotten to apply NSA encryption :-)

    Gld, slv up – so what happened to correlated markets?

  • Skynard

    JPY still showing bull flag, if broke to the down side will take that trade since it’s so beat up.

  • AMCabrera

    still correlated to confusing the correlated who like correlation. So all is fine.

  • AMCabrera

    yea most certainly just waiting for my orders to get triggered. No hurry.

  • Skynard

    Shooting star, short on a close below today’s low:)

  • Skynard

    When my AUDJPY short is stopped will try a long for sure.

  • Skynard

    FYI, my Forex account has now doubled. Drinks on me tonight:)

  • AMCabrera

    SkYNARD!! SKYNARD!! 2 to 4 dollars! jk good job mate

  • Skynard

    Been taking advantage of those NL’s and keeping longer trend trades. Good example was my most recent EURAUD trade, still long on 1/2 position(50k).

  • AMCabrera

    Yea, then you add in AUD/JPY just this week it has fallen from 83.60 to 81.90

  • Skynard

    Yes those two pairs have helped immensely.

  • Skynard

    Shorted EURUSD now, see how this one goes:)

  • newbfxtrader

    nice work bro! My FX mates rock!

  • AMCabrera

     yea I’ve never been a fan of divergences either. 

  • newbfxtrader

    Exactly. Just stay in the trend. You need daily divergence at least plus break of trendline and then a retest that holds to get on the other side. That’s what I did on eur/aud. Worked out well. But mostly I try to just follow the trend. Will be interesting to see the COT data tomorrow. Weather is changing it seems.

  • Skynard

    Many times the hourly is used and after a successful move such as today, will reposition my stop at the expired BL because the daily does not exist yet it keeps me in the game.

  • 737flyer

    moved

  • MidLife

     Way to go Sky! Next thing ya know you’ll be pimping your own service :)

  • AMCabrera

     vassals of the HRE are not allowed to leave without Kaisers consent. 

  • Skynard

    See how this sucker tested that SL twice. Hiddy ho!

  • MidLife

     LOL. Very true!

  • Skynard

    Took /CL short on a breach of the hourly NLSL:) Trend line break as well from 86.92.

  • Darth_Gerb

    take some off the table.  right AMC?
    (glug glug glug, bartender, another!)

  • BobbyLow

    Congratulations  Skynard!

    I think you’ve worked very hard and very smart to accomplish this.

  • Rightside_ot_trade

    Excellent!

  • Joe_Jones

    Cheers to that

  • Skynard

    Where to?

  • Skynard

    Perfect timing on ZFX signal:)

  • Skynard

    Have to watch this one now, in back test. Check out the div, ecks!

  • Skynard

    Tagged the 100sma on the hourly. Done:)

  • 737flyer

    Well I had another one right above yours but it is now gone. Maybe admin got rid of it.

  • AMCabrera

    Highly important for eur/usd to crack below 1.2530 and stay below. Not just punched through because if it just punches through the fix for the day may be in.

  • Skynard

    Hehehe, getty up Buck:)

  • AMCabrera

    well it just leaked right under

  • AMCabrera

    damn eur/aud oooh me me, how sad that I let this one go so early.

  • AMCabrera

    Ok be careful now Im pulling half profit from eur/usd. putting the rest at b/e 1.2560

  • AMCabrera
  • Skynard

    Ah, if it was a link you  mat be right:0

  • newbfxtrader

    Counting on it!

  • http://iberianviews.blogspot.com/ catracho

    seems like bullish sentiment returning to dollar..BUT I would view that as a contrarian play, ie dollar will go down more over next couple of weeks..therefore euro, Aussie etc go up…

  • AMCabrera

    reducing short in the eur/jpy to quarter lot.

  • Skynard

    Now we are getting somewhere, that’s a 1400 SPX break. Come to daddy:)

  • neowave

     what is target for es today?

  • newbfxtrader

    Are you serious? How about 1420?

  • Darth_Gerb
  • Skynard

    RUT 800
    SPX 1390
    /ES 1388

  • DarthTrader

    Look at the Aug 2 or 3 Candles as they had hi Vol and a large price spread.  Also on this last leg up Aug 3 high is near the 61.8% 1390.19 and Aug 2 is at the 50%  1382.38

  • fuw

    Dax testing important support area at 6900 now (also daily MA20). This would be a natural retrace in the current uptrend. I’m testing long positions now.

  • newbfxtrader

    lol wait for the rebound to sell. JSTFR?

  • DarthTrader

    Also on the hourly chart /ES had an ABC down to 1397 which completed this morning, broke through . . . now we are testing the break.  If it reverses the next primary target on that chart is the 161.8% Extension at 1384.74

  • bdoone

    For CS fans (yeah, I miss Convict Scott too, there, I said it) I remember some of his more prescient posts that talked about ‘significant tops/corrections’ not being pop-n-drops, but should have a (preferably failed) re-test of the highs…A Re-test Sell Variation I think he called…Just saying.
    If I have time I’ll try to pull them from archives…I believe from Spring and Summer of ’11…and he was usually spot on! 

  • Skynard

    Would like to see EURUSD break 1.25 again:)

  • DarthTrader

    Yes, Understanding that the market is constantly testing is very important.  

    Just like women LOL

  • Schwerepunkt

    Clouds are thinning above USD/JPY. Tenken above Kijun. Chikou is still below the cloud however. Picture is mixed, but there is potential for a big reversal for the USD. A little skirmish near the Spratleys would be a nice catalyst . . . or further QE from Tokyo. 

    http://screencast.com/t/fyxvr3HS

  • DarthTrader

    Market is Open

    Let’s see what that VIXen has to say

  • bdoone

    From common sense stand point: lure in dip-buyers & weak shorts to cover and give big boys fuel to sell into. 

  • MrMargin

    /ES ran into first line of support and today has a 69% positive historical seasonality. I don’t think we’re going to drop today but rather see some correction upwards. I could be wrong of course and in that case we’d probably see /ES 1365 sooner rather than later.

  • http://iberianviews.blogspot.com/ catracho

    I think 6870 is more important…it was the base area for the last months action…a break below 6900 may encourage some “late bears” ..looking to buy 6900 and below..stop 6850

  • AMCabrera

    going long aud/usd with 20 pip stop

  • MrMargin

    @amokta:disqus 
    Look at $NFLX, it’s doing exactly what I thought it would do. It’s even doing it when I though it would do it…

  • Skynard

    Do not see a div yet on the 5 min. Unhealthy for longs right now. 

  • fuw

    5min Inverted HS in DAX now.

  • ronebadger

    Barclays update:  I drove Phil’s clubs and caddie back to the clubhouse yesterday, but not Phil.  I DID touch Phil’s golfbag though, so let’s see how he makes out.  Got Tiger to sign my hat, too!

  • fuw

     Well, maybe I could have been more clear with my support area – I’m referring to the 6980-6900 band, so I think we are pretty much in agreement. I don’t like looking at single numbers for support, but rather areas that price can dip into.

  • Rightside_ot_trade

    Anyone trading /RB?
    Gapped down on today’s open trapping two weeks of longs, now retesting last weeks daily NLSL

  • Skynard

    Trans daily going down, nothing but air. Lost all ma’s now:) R.I.P.

  • Skynard

    Short /ES @ 1398.75

  • ridingwaves

    That’s a good thing…

  • AMCabrera

    homie G eur/usd gets above 1.2530 the fix is more than likely in.

  • Darth_Gerb
  • Skynard

    Still short, fake and bake:)

  • ridingwaves

    the ole vix take down strikes again..

  • newbfxtrader

    Aliens are buying?

  • Darth_Gerb

    it’s a Trap!

  • MrMargin

    Yes, except for the part where I chickened out yesterday and covered way prematurely.

  • Skynard

    /DX bull flag 5 min, watching for a reaction @ 1406 SPX.

  • Skynard

    Hum, right about tha:)

  • newbfxtrader

    Maybe. But I like to see some euphoria first. Too many bears. Too much neg sentiment.

  • saltwaterdog

    Newb… what indications are there of overly neg sentiment, besides the typical ZH blogs? I’d love to know people are actually bearish still– AAII data this week suggests the opposite, with Bull/Bear ratio up to 1.6, from 1.3 last week and <0.90 on Aug2.  The Bullish Percentage of 42% is it's highest since late March.  Now this is only one market demographic, admittedly….

  • ridingwaves

    ecb rumors floating market higher..

  • Skynard

    Taking one move shot at /ES @ 1407

  • Turps

    Bears are so cuddly, they just need to be hugged and squeezed and squeezed some more. Fortunately, this bear wasn’t short this time.

  • newbfxtrader

    Yes I saw that. I have commented recently about weather changing. Need to see the changes in FX too.
    http://www.dailyfx.com/technical_analysis/sentiment/?technicalSentiment=EUR/USD
    Retail is extremely long USD. This needs to change and then we have a massive dollar rally. I am thinking a couple more weeks of rally should do it.

  • newbfxtrader

    I am expecting this to be the last leg up. Clear the USD longs and then USD rally and everything else down including bonds.

  • Skynard

    SPX 15 min battling with 200sma right now. If this thing holds today wll reevaluate.

  • newbfxtrader

    Have patience. Isn’t it better to short on a retest of the highs with neg divergence (RSI MACD whatever you use) than now?

  • Skynard

    Nice div on the ZL 5 min. Well see who is being squezzzzzed today:)

  • Darth_Gerb

    At least I’m better the Pretcher.
    😉

  • DarthTrader

    Semblance of a down trend channel in place. 

    1413 area next resistance

  • Skynard

    Looks to me flushing the weak bears:)

  • newbfxtrader

    lol.

  • BobbyLow

    Mornin Folks.

    KISS

    For me I’m just trying to keep this “Keep It Simple Stupid”.    Haven’t checked any Financial News and don’t intend to.  

    But this is what I do know.   

    It’s Friday.

    The SPX has had about a 1.3% Correction since the 1427 High on Tues. 

    There is a storm in the Gulf probably helping to keep the price of Oil up.  (Ya I know that’s Bullshit)

    Financials sold off this morning but have since recovered.

    Energy Companies are pretty much flat.

    Oh and the E-Mini’s have been above VWAP since about 10AM

    So I’m staying away from the short side at least for now.

    Of course everything is subject to change at a moments notice.  :)

    And for giggles here is a 5 Minute SPX Point and Figure Chart.

    http://screencast.com/t/cpG37bWW 

  • Darth_Gerb

    Devils Soup.  Muwahahah.
    (I posted this a few days ago)
    http://s16.postimage.org/hv7xbtl77/chopzone.png 

  • saltwaterdog

    totally agree on shorting when divergences finally show up, but for now my focus on where sentiment levels are is to gauge the wall of worry.  That’s why I said I’d love to know people are actually still bearish into this rally, because I’m focused on the path of greatest pain.  Appreciate your comments…. SWD

  • MrMargin

    I’m curious, what are your experiences with short term P&F charts? Do they work out as well as longer term?

  • DarthTrader

    More like the 1412 area would be the 3rd contact on the upper channel while the lower channel line has over 4 points of contact.  Those are parallel lines in the screen shot.

    Jeez, what a sweet market.  Just keeps giving gifts

  • DarthTrader

    Looks like you need to expand you chop zone 

  • finansreven

     Well, they almost got my stop at SPX 1310.5 (they might still take it).

    Had a short eurusd from 1.2565 yesterday and took off half from the table at 1.2503 today. Put the stop at 1.2627 as I will then be BE at the whole trade. Plan is to either get taken out or stay until 1.21xx area. We will see what will happen. I think its worth a try, as it can gain a 400-500 pip and I only risk my profit.

  • ds2

    Mole – I saw this the other day and now again.  Blue line on Mole Osc but no blue arrow.  Should a blue line result in a blue arrow?

  • Skynard

    DS,

    A short time ago Mole changed those signals to be given on stronger limits so the signals would be more accurate.

  • Skynard

    ZL hourly signals turned, check out the 5 min green signal line. Not confiming is it?

  • BobbyLow

    I’ve just begun to experiment with the shorter term P&F’s (especially the 5 minute) as a supplement to my regular candlestick charting etc. 

    My trades are short term swings so the longer term P&F based on Daily can have more of a draw down on them that I feel comfortable with.

    So far, using 60 Minute P&F Charts have worked out real well for shorter term swings while eliminating a lot of noise.  I’m sticking with a 3 Box Reversal but as you can see by reducing the periods of time (from hourly on down) the Box Size automatically reduces when you use Percentage or ATR.   

    I’ve studied a couple of pretty decent books on P&F but I’m still relatively new to it.  

    However, I’m finding out that the more I use it, the more I like it.

  • Skynard

    Unusuall days as of late based from the TDA’s we have been receiving.

  • ds2

    Good to know.  Thanks!

  • Darth_Gerb


    The technique is over 100 years old. “Hoyle” was the first to write about it and showed charts in his 1898 book, The Game in Wall Street.[1] Richard Wyckoff also described the technique with charts in his 1910 classic, Studies in Tape Reading. The first book/manual dedicated to Point and Figure was written by Victor Devilliers in 1933. Chartcraft Inc, in the USA, popularized the system in the 1940s. Cohen founded Chartcraft and wrote on point and figure charting in 1947. Chartcraft published further pioneering books on P&F charting, namely those by Burke, Aby and Zieg. Chartcraft Inc is still running today, providing daily point and figure services for the US market under the name of Investors Intelligence. Veteran Mike Burke still works for Chartcraft, having started back in 1962 under the guidance of Cohen. Burke went on to train other point and figure gurus, such as Thomas Dorsey who would go on to write authoritative texts on the subject.

  • bdoone

    Simple: Mole just has to come up with a TDRA indicator: Trend Day Reversal Alert indicator:)

  • MrMargin

    We have seen delayed TDs a lot lately where we move up/down for the first half an hour or so before reversing and trending in the different direction. I’ve started to use ADX on the 5m chart more and more and it’s a great tool for situations like that. Observe how it crossed above 30 right on a NR4 candle. That would’ve been a probable aggressive long entry or the second chance on that pullback to the 9 EMA again with an NR4.

  • Skynard

    Ah, still think it’s a short squeeze. That gives me a better reason the beleive it:)

  • BobbyLow

    Yep.  And I believe when they first started they were using 1 Box Reversal Charts (which you can still do) these have X’s and O’s in the same column.  These charts are very busy and I have the same problem with them as I do with other busy charts due to my relatively poor geometric skills.

    One of the books I read on the subject was by Thomas Dorsey  “Point and Figure Charting” “The Essential Application For Forecasting and Tracking Market Prices”  Third Edition 

    Another book that I read was “The Definitive Guide To Point and Figure” by Jeremy DuPlessis that Brishort recommended. 

    The Dorsey book is great especially for a beginner and the DuPlessis book is even better because it goes into more detail than the Dorsey Book.

    StockCharts also has a lot of basic information on P&F.

  • bdoone

    Repost from earlier: 
    For CS fans (yeah, I miss Convict Scott too, there, I said it) I remember some of his more prescient posts that talked about ‘significant tops/corrections’ not being pop-n-drops, but should have a (preferably failed) re-test of the highs… Re-test Sell Variation I think he called it.
    AKA: short squeeze. Shorts jumped in SPX 1410 on down, especially around/below 1400, squeeze begins, dip-buyers jump in.  Re-test highs, bus is emptied as shorts capitulate then longs get squeezed when real sell-off begins.

  • Darth_Gerb

    you’ve got to give Credit to the helluva 3 day down run.
    Speculative T [SPX]…

    http://s8.postimage.org/6gfeft0sz/evil.png 
    -DG

  • DarthTrader

    Had no comments on this Down Channel Earlier

    Do take a look we are just about at upper resistance

  • ds2

    At the 50% and volume is weak.

  • Skynard

    Got it, thanks. Momentum still down on most indicies. Right on top of it:)

  • Skynard

    Good place:)

  • ridingwaves

    jumping into ANTH on possible squeeze play as we speak.. .96 stop .90

  • Darth_Gerb

    when you miss by pennies, the snapback can be a b!tch.
    [SPY]
    http://s18.postimage.org/5se34utyv/temp2.png

  • newbfxtrader

    Told ya the aliens were buying….

  • DarthTrader

    This market is very accommodating . . . gives you great opportunities to improve your positioning.  

  • Rightside_ot_trade

    For some reason I’m not seeing an attachment

  • I Bergamot

     IMHO, a sound strategy will work across multiple time frames and for different markets. The world is fractal in nature, so are the markets. Sure, you need different settings for ES vs oil, daily vs 5min etc. Currently, different PF projections for SPX are from 1450 to low 1500. I’m positioned accordingly.

  • Skynard

    Chart please:)

  • DarthTrader

    Refresh your screen if that doesn’t work do you see the one I posted 2hours ago?

  • Rightside_ot_trade

    Ok its there if I look on the computer but not the iPhone

  • DarthTrader

    AS long as you keep banking coin

  • http://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨ 
    ¨°º¤ø„¸  N E W  „ø¤º°¨ 
    ¸„ø¤º°¨ P O S T “°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • Skynard

    Held through the storm on my 2nd day trade, see how it goes.

  • gsavli

    missed by penis indeed…

  • MrMargin

    I agree, a solid strategy should always be based on sound principles. However, I find that market “noise” (meaning the random component of movements) becomes a greater factor in lower time frames thus diminishing the effectiveness of certain tools or strategies. So my question is basically whether or not this applies to P&F charts.

  • I Bergamot

     Agree. That is why I use only daily for PF but with smaller box size ( 1/2 or 1/4 of 20ATR). This way the signal will be generated after all intraday noise. Also, keep in mind that PF charting disregards time and alot of noise with it.