Fundamentally, a lot can happen in this market in terms of geopolitics, and it happens so far outside of my time horizon that I choose not to pay much attention to it, I cant try to play politics, nobody can make sense of that trash, I like raw data.
Quarterly:
-Potential big resistance confluence.
-8 consecutive up Quarters?
Monthly:
-Not a very impressive new high.
-Pretty volatile from this perspective.
Weekly:
-This is where the action is right now, very clean.
-Trend line resistance held on the close of the week.
- If it retreats quickly id expect a collapse to the 60's, then a breakout
- Momentum extreme in a bullish turning neutral trend
***** I have Bulkowski's "Encyclopedia of Chart Patterns right in front of me and he gives this pattern a statistical probability of going short from here, in bull markets, 19 out of 23 times from his case study***
Daily:
I marked the first 2 highs in this swing, I like to do that and leave it, its not a valid trend line once broken, but it is a good gauge of market strength or weakness as the trend continues, and right here you can see it failed perfectly on its original supply line, indicating pressure.
Everything matters, even Geo Politics, just not my game, I manage risk, and right here, right now, the markets showing us good R:R, now I wait for a signal enter short, and use proper money management, and I can play on the daily once the trend changes, get short around 90 if im lucky, exit at 92-3 on losers and potentially ride some runners to sub 60.
Create your own luck by managing your risk properly, thats all thats in your definite control, what you risk.
Quarterly:
-Potential big resistance confluence.
-8 consecutive up Quarters?
Monthly:
-Not a very impressive new high.
-Pretty volatile from this perspective.
Weekly:
-This is where the action is right now, very clean.
-Trend line resistance held on the close of the week.
- If it retreats quickly id expect a collapse to the 60's, then a breakout
- Momentum extreme in a bullish turning neutral trend
***** I have Bulkowski's "Encyclopedia of Chart Patterns right in front of me and he gives this pattern a statistical probability of going short from here, in bull markets, 19 out of 23 times from his case study***
Daily:
I marked the first 2 highs in this swing, I like to do that and leave it, its not a valid trend line once broken, but it is a good gauge of market strength or weakness as the trend continues, and right here you can see it failed perfectly on its original supply line, indicating pressure.
Everything matters, even Geo Politics, just not my game, I manage risk, and right here, right now, the markets showing us good R:R, now I wait for a signal enter short, and use proper money management, and I can play on the daily once the trend changes, get short around 90 if im lucky, exit at 92-3 on losers and potentially ride some runners to sub 60.
Create your own luck by managing your risk properly, thats all thats in your definite control, what you risk.
www.amazon.com/Encyc...kowski/dp/0471668265