35854 replies to this topic

[BlythZ]

Off topic, 

 

Am i correct in seeing an inverse Head & Shoulder on the Dow Futures 30 min chart? 

Those who use the autochartist function on IG, i just saw that Dow is expected to go up by 70 pips in the next 6 hours and S&P500 should reach resistance at 1983 in the next 9 hours

[mx125]

If you don't have reason do be long, you should be able to give reason to be short.   Hope it helps in your decision.

No reason to go short, but a bit scared to lose what I've got. Emotions and not common sense are talking.  

[Casenova]

Sy is taai om verder op te gaan. What do we do hold on or take profit? 

If you don't have reason do be long, you should be able to give reason to be short.   Hope it helps in your decision.

[mx125]

Sy is taai om verder op te gaan. What do we do hold on or take profit? 

[BlythZ]

Off topic, 

 

Am i correct in seeing an inverse Head & Shoulder on the Dow Futures 30 min chart? 

Attached Files

•  Dow Jones 30 min chart 22-07-2014.PNG   414.03KB   3 downloads

[BBW]

Cause of that quick dip??

[grantmu]

for anyone having problems with identifying waves (me especially) you could try using something called PHIMATRIX. this is a kind of FIB thing that works in a grid, it also has something of the Golden Ratio (Also a FIB thing), when I overlay this over the chart the waves seem to jump out at me. 

 

I have been doing this manually for now so if anyone knows of a program that can do this I would be very interested. 

 

here is the page I found that states how to do this,

 

hope this helps.

 

G

 

www.phimatrix.com/stock-market-analysis/

Edited by grantmu, 22 July 2014 - 12:57 PM.

[grantmu]

So much for that theory; forgot about the East. Still think FUNDAMENTALLY we should go/be down; unless JSE listed companies make money in recessions as well?

We are going to have to give larger and larger credence to the east, China is going to be the world production house if it is not already that, the days of made in china being dirty words are coming to an end, As south Africa is a mining economy we will in future depend more and more on the east as direction and the end product of all the material we mine.

[BBW]

I THINK we're in for a lekker see-saw ride with European markets (and our OWN) taking us down in the am's and the US taking us up in the pm's?

So much for that theory; forgot about the East. Still think FUNDAMENTALLY we should go/be down; unless JSE listed companies make money in recessions as well?

[Plasma]

Well said Grantmu

[Casenova]

This guy is someone who i can look up to!

 

"It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance." ~ Livermore

[Vertebrae]

There is always another take, especially for the short term, where judgement is a balance of probability.

Presently there is a triangle formation of the wave iv within the wave v of wave 3.

If c moves to the lower side at 45900ish (futures) this would also produce an equal legs retrace - provided 46820ish not exceeded.

That would also make c = 61.8% of largest wave in the triangle.

Plus the lower tramline meets the lower triangle line at 46000ish in a few days.

For me these things are also worthy of observation in the short term.

And I would prefer a more substantial foundation for the 5th of the 5th.

[BlythZ]

actually a failed head and shoulders taking it to that target too!!

That's true HDB so we should just sit tight on those longs. 

 

Thanks

[BlythZ]

This group as it is now provide some unique opportunities as traders, I am sure we each bring a skill to this group that has in the past allowed us to trade semi successfully, sharing of information provides opportunities to derive some benefit from other users in the group while at the same time trying to master new skills.

 

The Wave riders offer a truly unique perspective to trading, I for one am trying to learn this skill as fast as I can, having said that there are other skills I have seen on the group and now use daily.

 

The information is presented to all and each follower can use or ignore the information. The group is comprised of many users all at different levels of skill, taking the time to communicate a concept will make us all better traders.  

 

The more people ask questions the better off we will all be, Thanks to all the posters and all those prepared to share information, it is very much appreciated.

 

The art of providing help to others with no expectations of reciprocation is something the worlds people don't do often, it is nice to see that there are still good people in the world. 

 

G  

That is true G, 

 

We are learning on this thread 

[HDB]

Copied from @ALSITRADER on twitter:

 

#ALSI 30min chart double bottom in place, target 47100 but my guess is new all time high coming

actually a failed head and shoulders taking it to that target too!!

[BlythZ]

Copied from @ALSITRADER on twitter:

 

#ALSI 30min chart double bottom in place, target 47100 but my guess is new all time high coming

 

Attached Files

•  BtIZ72gIEAEQhAA.png   202.89KB   4 downloads

[grantmu]

This group as it is now provide some unique opportunities as traders, I am sure we each bring a skill to this group that has in the past allowed us to trade semi successfully, sharing of information provides opportunities to derive some benefit from other users in the group while at the same time trying to master new skills.

 

The Wave riders offer a truly unique perspective to trading, I for one am trying to learn this skill as fast as I can, having said that there are other skills I have seen on the group and now use daily.

 

The information is presented to all and each follower can use or ignore the information. The group is comprised of many users all at different levels of skill, taking the time to communicate a concept will make us all better traders.  

 

The more people ask questions the better off we will all be, Thanks to all the posters and all those prepared to share information, it is very much appreciated.

 

The art of providing help to others with no expectations of reciprocation is something the worlds people don't do often, it is nice to see that there are still good people in the world. 

 

G  

[Motion Picture]

Thanks guys, but just charts!

 

Hope you are learning and making some mula!

 

 

A

 

Learning we are!

And moola definitely we're making!

Account roughly 23% up for this month alone.

[warnerbroers]

time to listen to some green day 

[Argento]

Great quote by Livermore: "It was never my thinking that made big money for me. It was always my sitting. Got that? My sitting tight!"

O ye, great call as well sir!

 

A