35854 replies to this topic

[Godfather]

I use the Cash to trade Top40.

Will the same apply

[BBW]

BBW, you have to jump in here; it is the most profitable trade you'll ever have to make. That's, of course, if your system allows.

 

The target is 44100, brother! What say you?

Thanks. Already in, but mostly because I have to (hedge my big short )

[Roundtree]

BBW, you have to jump in here; it is the most profitable trade you'll ever have to make. That's, of course, if your system allows.

 

The target is 44100, brother! What say you?

You can exit your trade at 44100 and wait for 44170 to be hit, then go short. 

[BBW]

 Chart of Alsi Daily

alsi daily.png

Self explainatory.

Maybe, but not so much to me!? Does that small "double top" really constitute one and if so, does it mean a discontinuation of the trend and which one? Sure, time will tell, but nice to have an idea beforehand and "debate" and learn about the charts!

Roundtree, I also prefer to trade "naked", but only just because I have not found even ONE indicator I can trust on a regular basis; they all are sometimes right and sometimes wrong, it seems to me! But I like trend lines (maybe because it's the simplest).

[Roundtree]

BBW, you have to jump in here; it is the most profitable trade you'll ever have to make. That's, of course, if your system allows.

 

The target is 44100, brother! What say you?

[Roundtree]

OK! Well, won't you please confirm this rookie observation of a double-top (@+-44100) on the SA40Futures(Jun14) contract on the 4-hour (and smaller) charts?? Could this be a longer-term resistance? (Expecting to hear 2 different opinions from the Argento/Farouk vs Roundtree/Zoomz camps!??)

BBW, I'm like Humphrey Bogart in Casablanca; I stick my neck out for nobody. I'm like Switzerland; completely neutral. These little cat fights aren't for me, brother.

 

About the double top; I've been watching it and wondering if it is in fact a double top. My conclusion is that it isn't; because we have not double topped after reaching 43865, which was the target calculated from the 2nd April low. Instead, the market is currently busy with the top. We have hit the low of that top formation - 43358 - which we retested yesterday (for some strange reason, we have retested it today, and that's why I'm starting to wonder what in the world is going on). Anyway, we now have to go to 44170 to sell and only after that will we go down to 42540. 

 

I don't disagree that we have to go down, all I'm saying is that now's not the time.

 

Once again, I don't know much about indicators - I trade naked charts with no stops - so chances are the market will prove me wrong and punish me severely for it. But I'll stick to my system.

 

Happy days, brother. 

Edited by Roundtree, 15 April 2014 - 12:24 PM.

[farouk]

 Chart of Alsi Daily

 alsi daily.png   357.12KB   44 downloads

Self explainatory.

 

[BBW]

 

As per previous posts double top confirmed as you said with a PF count to around 42780ish TOP40F, that is my target for this mini correction and shorts and will go long there!

 

Last nights comeback (last hour) in the US might very well be short covering so tonight there could be blood on the streets!

 

Once hit I expect new highs for our market as EM's are very strong atm, don't know if US going for new highs but will launch a strong rally into early May before the major top!

 

IMO of course....

 

A

Thanks. Stupid question: Does that small dip in between on the Dailies also constitute a double top and is that the one you use as real confirmation?

[gannet]

OK! Well, won't you please confirm this rookie observation of a double-top (@+-44100) on the SA40Futures(Jun14) contract on the 4-hour (and smaller) charts?? Could this be a longer-term resistance? (Expecting to hear 2 different opinions from the Argento/Farouk vs Roundtree/Zoomz camps!??)

 

I was looking at exactly that a few mins ago.

 

It does look to be solid resistance and might well be the top.

 

If not ... then a tad over 44300 would be the next target? But that does look a long way off at this time.

[Argento]

OK! Well, won't you please confirm this rookie observation of a double-top (@+-44100) on the SA40Futures(Jun14) contract on the 4-hour (and smaller) charts?? Could this be a longer-term resistance? (Expecting to hear 2 different opinions from the Argento/Farouk vs Roundtree/Zoomz camps!??)

 

As per previous posts double top confirmed as you said with a PF count to around 42780ish TOP40F, that is my target for this mini correction and shorts and will go long there!

 

Last nights comeback (last hour) in the US might very well be short covering so tonight there could be blood on the streets!

 

Once hit I expect new highs for our market as EM's are very strong atm, don't know if US going for new highs but will launch a strong rally into early May before the major top!

 

IMO of course....

 

A

[Roundtree]

It looks like the FTSE is headed for 6484 and that may be the reason why we are just hanging in mid air. Let's see what happens (to the Top 40) when the FTSE gets there.

 

I opened my trade last Thursday and it doesn't seem to be showing me its hand. The next step down is 43030, but that is not how the system works; we have to close at highs first before taking a step down. In this case the "high" is 43715.

 

And so we wait.

[BBW]

Well said!

 

A

OK! Well, won't you please confirm this rookie observation of a double-top (@+-44100) on the SA40Futures(Jun14) contract on the 4-hour (and smaller) charts?? Could this be a longer-term resistance? (Expecting to hear 2 different opinions from the Argento/Farouk vs Roundtree/Zoomz camps!??)

Edited by BBW, 15 April 2014 - 11:33 AM.

[Argento]

One does not need to be an expert to contribute (something/anything, or just be part of a healthy discussion) instead of trying to criticize people who actually do contribute.

Well said!

 

A

[OceanWalz]

Thanks for that (very uncomfortable) ZAR view Farouk - that will be ZAR losing ground even with rates going up - wonder where and worse we'd be if it was not for China buying  up so much of our resources (and one day there will be none left!) - 

[BBW]

One does not need to be an expert to contribute (something/anything, or just be part of a healthy discussion) instead of trying to criticize people who actually do contribute.

Fair enough

[AJS]

Maybe we're not all as informed/educated/clever as the experts...?

 

One does not need to be an expert to contribute (something/anything, or just be part of a healthy discussion) instead of trying to criticize people who actually do contribute.

[BBW]

Thanks Farouk, fully agree on your charts view and how 'the tape' is the only source to trust!

 

Funny how guys comment on others charts and advice while contributing no charts and only make comments (50% right?) once in a blue moon (maybe red today)...!

 

A

Maybe we're not all as informed/educated/clever as the experts...?

[farouk]

Farouk, Thanks for for clear helpful view void of the cutesy "cool' mumbo-jumbo  - of many other posts on the blog

--- Do you think you can venture a view on the ZAR relating to your USD charts given? I know we all have our own view of ZumaRands

 

Note charts take a bit of time and pain so i am just going to talk about what i see on the charts.

The USD/ZAR was trading inside a triangle from December 2001 to December 2013.

An extreamly bullish breach took place in December 2013 and a target with a minimum figure of R17.00

Note the recent low on the Zar @ R10.35 was actually a test of the triangle breached line.Hence that breached resistenance line is now strong support .

[Roundtree]

The real problem with this thread is not that people make calls on how they see the market; it's the hostile and childish reaction from those who think they are the only ones who are right.

[AJS]

Funny how guys comment on others charts and advice while contributing no charts and only make comments (50% right?) once in a blue moon (maybe red today)...!

 

A

 

My thoughts EXACTLY!! Ditto.