I_AM_FROM_THE_FUTURE

SMALL DROP. TRADE WAR GETTING IGNORED. MARKET NO LONGER CARES??

Long
SPCFD:SPX   S&P 500 Index
SMALL DROP ON CHINA TARIFFS. NO BIGGIE. THIS WOULD HAVE BEEN -800 DROP ON DOW JONES, BUT LITTLE REACTION. JUST A KNEE JERK. That is what makes me worried about holding short position.


Disclaimer: This information is for entertainment only, it may be incorrect and should not be used for your investment decisions as you may lose all your money...and.. although my name says so, I am not from the future and don't know the future. I may or may not hold positions in symbols I talk about. I may change my mind and not tell you because posting stuff is not my priority. I just post things for fun based on what I learned and that may be incorrect.

Comments

All those gaps are getting filled... I really fail to see the wisdom in drawing conclusions in the first 5 minutes of the day... you wondered why there wasn't a bigger drop? Well just 2 hours later there's the answer friend...
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@Luke8111, Everyone can be clever after the fact.
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Traderholic I_AM_FROM_THE_FUTURE
@I_AM_FROM_THE_FUTURE,
One can also be smarter before the fact.
1) you have your resistance - no breakout. Why assume it will?
2) the support area from your lines (perfectly drawn btw - nothing wrong with them) is a more likely target.
3) what was your target and stop-loss - hence your R/W ratio?
4) I went short on the bad news. Made some pips. Had my stop loss so didn't make much of it. Then waited - and boom! A reaction from the dear president sent the indices to hell.
+500 pips on the day

Sometimes you have to wait. I think the market saw the tariffs as an opportunity for a big rate cut at first and then got nervous.
I know you state that your chart is for entertainment only. But still - suggest a strategy for enter/exit. Many of us are trading with real money :-)
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@Traderholic, No.. You are just clever because you got lucky and you have to let it out:) Ok. One time I did not predict Trump's twit. Look at my previous calls. Each time I shorted before the twit went out. Actually the bad news matters less now. The bad news were China's tariffs. Market had a small drop from that and drifted higher. Trump's twits could have created a buying opportunity into panic.

Sometimes you take a risk, and it does not work out. As long as you are right more than wrong you win. Post your analysis as you trade. I will follow it and catch you many times I'm sure:)
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Traderholic I_AM_FROM_THE_FUTURE
@I_AM_FROM_THE_FUTURE,
I am done publishing charts. I have some on a weekly and daily basis that I keep in mind. I then trade on Price Action during the day.
I have seen your charts and they are not bad. All I am saying is that I am seeing a lack of confirmation and stop-loss/profit taking.
Without them they are more or less useless. I say the market go up and eventually i get it right due to lack of perspective.
You can make money even if you are wrong more than right and vice versa. Risk management is king in this game.
So with all due respect I beg to differ :-)
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@Traderholic, I don't put stop loss often. I only use stop loss when I add large amount and am really worried about it. I only had a small long position due to the risk. Also a long order is less risky then short. You can always let it sit even if it is a losing one. Eventually it will recover. I lose more with stop loss orders because they almost always get hit as if someone knew that I have a stop loss order and goes there to get it.
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@Traderholic, That I did several times. not just once. every time before twit went out. Look at my posts.
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@Traderholic, The thing is, market keeps recovering very fast from each of these drops and stays at that resistance line. That is the weakness of this ascending triangle. Unless we break down the support, which is quite possible, we will go back up to that resistance soon and drift there until it breaks out. Lets see what Monday brings. If it does not break the support, we are on the way up again.
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@Traderholic, Oh.. I don't make suggestions for others. I post for myself:) I disclaim it that I may be wrong. Can't be right always.. sometimes your bet is off. It would have been too easy otherwise.
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@Traderholic, I saw you were shorting gold:).. How did that work out?::).. I've been holding gold and silver for a while, but did not trade it so did not write about it.
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