The NQ is stuck. how many times can you hit new ATH price in 2 days? 5? 10? 20? I watched Sam Zell, Billionaire Investor on CNBC this morning saying what myself and a few others say in the room. While Retail traders use their stimulus checks gambling in the market, like the cocaine monkey hitting the cocaine button and ignoring food and water till they drop...
I have a long trade on right now, so don't mistake me for what some call a "Bull". Being a Bull or a Bear is a 50% strategy, you will make money half the time in the long run. I trade futures, and on a typical Monday we go UP, so yes I hold longs. I have a long term trade with the Maximum number of contracts my broker will allow, June contracts. On days like...
It's been a while since my last report. To recap: In my last post of Dec 17th I pointed out that we were set to go down. We have, ( except for a short Christmas Rally, after Christmas ending in early January every year ) Today we are way up, and my stop isn't going to be taken out because I expect for us to continue down in the coming days/weeks. I got in a...
I mentioned going short recently, and if nothing else I am a super early warning machine. I warned about the correction in February 2020, starting in December as an example... Then the Rally up in March. Right now we appear to be rolling over, we might not be seeing new all times several times a day from here on out for a while. The lavender lines indicate the...
So, in my previous My Idea i suggested we might go down, anywhere from a 1.272, to a 1.28, to a 1.6 fib extension down, but what happens after that? I think we blast up from there to new all tim highs on the ( I think I picked a lavender target area line). Note the two arrows, the red one down to target areas, then the green one UP to nw ATH.
@Chartmojo shares the ShawnZ Bollinger Band Indicator with us many times a day, ShawnZ didn't invent Bollinger Bands, but they really seem to work... When Price crosses the standard deviation plot lines and then comes back they carry weight. Notice the 4 hour SELL signal, and last week was a "complex counter trend, corrective wave in Elliot". Wave 2 is a simple...
In my last My Idea" i predicted a correction. With new ATH's every few hours some thought I was nuts. He who laughs last laughs longest. :-) Now that the correction has come to pass I am expecting a 50% retrace of the correction, probably today, maybe by 10 or 11 AM, maybe even before the cash market opens. A 50% retract is average. 38% retrace is more...
We are in possibly the strongest most Bullish Market ever... The Buy the Dippers are in seventh heaven, and the permaBear Contrarians are in the dumps... BUT if you read My Idea about Seasons, and how there is a time for everything under heaven... I'm beginning to think about getting heavily back into SQQQ and using 60" charts instead of daytrading Futures... This...
Thank you TradingView. This is an awesome tool. I like it on a 30 minute chart. This is the timeframe that was used when they came out with Volume Profile TM. Allows for laser precise entries and exits.
For those of you who follow my , you know I trade based on what I think "Paper" is doing. if you look back at my 65 ideas I have posted it is hard to find a chart that didn't come to be true over time. You have heard me talk about The Bilderbergs, the Ultra rich Billionaires who meet in secret every year since 1954 all the Kings and Queens, Presidents, the Wall...
It feels like 95% of the people in the room are Bearish.... We know that ~95% of Retail Traders are wrong... some say 80% whatever it is a majority that lose, so often wrong. The last 7 trading days were hellish for Bulls, just like 2018 was hellish for Bulls (wave 4 year) refer back to my 30 year Elliot wave study. Time will tell, but don't give up the idea we...
Before we got the BIG 14 day correction I was doing EXTREMELY well in my trades (30 winning trades in a row over 30 days). My contract (work) ended the same day the correction started... This post is not about me, it is what I learned that might help others... I also did OK shorting. I was buying SQQQ and SPXS as shorts and selling them the next day, along...
We are actually overbought on the Weekly Camilla Pivots, above R4. I think we could go up on Monday, but by Tuesday at the latest a return to the down trend, 2 days of Bullishness, could well be a fakeout. They have been hurting the Bears, and those following the seasonal election statistics that point. down, then up into the election for 5 or 6 weeks
I know we have all seen charts like this where it is many DMAs and/or EMA's and you can't be LONG once they have all crosser over, because each line is a wall that has to be attacked, and eventually beaten. I have used these, and every type of indicator, including Market Profile which is a completely different kind of chart. There are time/price opportunities in...
I made $1800 last two days shorting, transferred to my personal bank account now that is a professional trader, right? Everyone who likes the idea should let me know if you'd paid to be in private classes with me, no interruptions. I am not a licensed Broker so it would be training, watching me trade, everyone testing theories and learning. You would need to...
The renko option really shows trend, and if this correction is as big as the last one the 200 DMA is a long ways down still. I colored it orange. I will ber selling my TQQQ's between now and early market hours. and adding more SQQQ
I believe we are in a bullish cycle, Intraday, butnear the top. The chart is the Renko Overlay, which I modify using heankin ashi candles It's Mortdiggiddy's Renko Overlay with heinkn Ashi candles which show trend. For Ellitition's we are in wave E in an ABCDE which if it continues could run a little longer before reversing. When we thi the high tommorow...
We may continue up into the Channel we have been trading, but we can seen how overbought, then oversold we were and indeed how unhappy the market is with the FED. Every time Powell spoke the market immediately turned red and corrected down. I don't know if it sheer hatred of how the FED sold us on the idea they would loan money to prop up the market, and then...