35854 replies to this topic

[@sirgrantfleming]

Stops should be around here somewhere... 40960 - could get ugly for shorts?

 

Into the great wide open
Under them skies of blue
Out in the great wide open
A rebel without a clue

 

Thanks Tom Petty

[Lekkerry]

<music_note> aan die einde van die reënboog... <music_note> A van Rooyen!

 

where my short will be waiting for the upcoming correction.

[Argento]

If she breaks 40670-ish then we look at a target of around 40880-ish, where my short will be waiting for the upcoming correction.

Cool, also got it like that!

 

Correction might just have about 800 points in it..then backup for new highs, is a cycle top around the 15th Nov and it being options expiration in the states should be a turning window for a bigger correction second half of November!

 

December should be bullish again...that is my play and good mula to be made if you play the waves!

 

But let's not get ahead of ourselves...

 

A

[K~~]

If she breaks 40670-ish then we look at a target of around 40880-ish, where my short will be waiting for the upcoming correction.

[Lekkerry]

Whoop-whoop yeah!

 

 

This sideways dullness just correcting the overbought oscillators to go higher...typical bullmarket stuff!

 

But a good correction is not too far away....charts will show when...but not yet!

 

A

[bear catcher]

Hi Argento as Roffey said within a year to 18 months

[Argento]

Karlwynv, just last week (think it was mid-week), the charts were over-bought on 1m, 5m, 15m and the 1h and it just kept on marching on.

 

Frustrating (challenging) at times to time a entry / exit if the market is on steam-train mode going up on virtual money (QEn).

This sideways dullness just correcting the overbought oscillators to go higher...typical bullmarket stuff!

 

But a good correction is not too far away....charts will show when...but not yet!

 

A

[bear catcher]

Short 40580

[Redeemer]

Interesting point there K...but that also reflects poor risk management.

If one is aiming 100 pips, then it's not wise to use a 500pip SL....that's a 5:1 Risk:Reward ratio.

However, I agree with you, as this is what lots of traders do in practice and end up wondering how the stash gets wiped out in a moment!

 

A is right, of course! Take this scenario. You buy the dip every day for a week, and make 100 points per day. 500 points in the bag. Next trading day you buy the dip with 500 points S/L.... You get the idea...

 

POOF! Whole weeks hard earned points gone. 

 

The market is very overbought at the moment, almost all time frames. Careful about overextending on the long side!

 

K

[Lekkerry]

Karlwynv, just last week (think it was mid-week), the charts were over-bought on 1m, 5m, 15m and the 1h and it just kept on marching on.

 

Frustrating (challenging) at times to time a entry / exit if the market is on steam-train mode going up on virtual money (QEn).

 

A is right, of course! Take this scenario. You buy the dip every day for a week, and make 100 points per day. 500 points in the bag. Next trading day you buy the dip with 500 points S/L.... You get the idea...

 

POOF! Whole weeks hard earned points gone. 

 

The market is very overbought at the moment, almost all time frames. Careful about overextending on the long side!

 

K

[Redeemer]

Or just go away and chow the profits Bear...

 

Ok out long 200 points in the bag. Now maybe sell the rally time?

[bear catcher]

Ok out long 200 points in the bag. Now maybe sell the rally time?

[bear catcher]

Ok out long 200 points in the bag. Now maybe sell the rally time?

[K~~]

Making money with markets is never easy...still need to know your entry and exit points, only take one drop to continue to take away that easy money!

 

A

 

A is right, of course! Take this scenario. You buy the dip every day for a week, and make 100 points per day. 500 points in the bag. Next trading day you buy the dip with 500 points S/L.... You get the idea...

 

POOF! Whole weeks hard earned points gone. 

 

The market is very overbought at the moment, almost all time frames. Careful about overextending on the long side!

 

K

[Argento]

Sunesis bought the dip at 40380 looking very good will continue buying the dip. Why stop making easy money??

Making money with markets is never easy...still need to know your entry and exit points, only take one drop to continue to take away that easy money!

 

A

[Argento]

Hi A
Probably a typo but your count refers to J200 ( Top40 Spot) but your chart to the Top40 Dec Future?

Oeps!

 

Futures indeed!

 

Thanks S

 

A

[bear catcher]

Sunesis bought the dip at 40380 looking very good will continue buying the dip. Why stop making easy money??

[Sunesis]

If you have made money in the past weeks by buying dips. It will be fair to say sitting on the sidelines now would not hurt your account.

One thing i learned is after a nice market run. Its best to take a week off trading.

 

I'm taking a break until next week.

 

See you next week

Enjoy

[Sam]

Busy with the return move of this bullish triangle, turnaround Tuesday should live up to it's name!
 
PF count for this pattern is 41166 (J200), then a good short back to 40300ish.
 
Should run up nicely into friday/Monday!
 
A

Hi A
Probably a typo but your count refers to J200 ( Top40 Spot) but your chart to the Top40 Dec Future?

[Sunesis]

Deutsche Bank releases some very poor results. Q3 profit down 94% due to increase in funds for litigation reserves.  Lets see how the Germans act. DAX

BP beats expectations and raises dividend to 9.5c (up 5.6%). Adjusted Profit $3.5bn vs Analysts exp of $3.36. Lets see how the English act. FTSE

 

Everyone is jumping into long positions now. Market does not like one sided boat. A one sided boats tips over at some point.

 

Pigs get fat, and hogs get slaughtered