If you don't want to watch the video, here is the trends going into 10/19/2022; Last Macro Trend Signal Spots 30m - 3709 Downtrend (10/18/2022) Higher Low 1Hr - 3681 Uptrend (10/17/2022) Higher High 2Hr - 3700 Uptrend (10/17/2022) Higher High 3Hr - 3682 Uptrend (10/13/2022) Lower High 4Hr - 3680 Uptrend (10/13/2022) Lower High 6Hr - 3759 Uptrend (10/17/2022)...
So I am shocked that the market is starting out again on a 2% gain for the day before the US Markets are open. Obviously major firms know how to purchase stocks using foreign markets, but this continued push in the foreign markets overnight is not something I see continuing to be allowed by US Traders. If you just want the trends, here they are; Last Macro Trend...
If you worked alongside me on Friday I had said we would fall down to around 3600 and get a small bounce. Based on this, I entered a trade after seeing we didn't push lower at the open and was able to capitalize overnight for about $2000. Can't complain about making money in your sleep, right? If you just want the trends, they are as follows; Last Macro Trend...
So I had warned against getting into the doom and gloom of a higher than anticipated CPI reading. I'd also stated I believed we were going to rally higher. Both came true. My suggestion to most, is that unless your trading strategy has a great way of reading this current market, is to step away now for a day, especially if you're up significantly for the week like...
Real quick, since recording this we had a huge jump up in the market. I'm guessing since things broke a key level or potentially a few of the Earnings came in. I'll update if I can figure out why that happened. Anyways, if you don't want to watch the video, here are the trends Last Macro Trend Signal Spots 30m - 3607 Uptrend (10/13/2022) Lower High 1Hr - 3644...
So we got most of the rally I had expected yesterday. I did not expect it to drop off 70% of the way through the rally though and drop off hard. That being said, I still expect than for us to reach up and grab a 2hr Uptrend signal. If you look, you see the 2hr now sticking out like a splinter in your finger as it is just running against every other trend...
So, the video is longer than expected, but I did talk about what it is I look for if I'm trying to grab at the peak of a low move to go back upward. Anyways, if you want the trends and don't want to watch the video, here they are; Last Macro Trend Signal Spots 30m - 3624 Downtrend (10/10/2022) Lower Low 1Hr - 3769 Downtrend (10/06/2022) Higher Low 2Hr - 3745...
So I had said that a perfect scenario to have a real rally, would include coming down low enough to grab the 6hr downtrend mark. I would have been satisfied with the 4hr, but again, had mentioned a perfect scenario would be that 6hr. Once we hit the 6hr, as expected it has gone a bit lower, but we have managed to flatten out and get above the trend line just a...
So we ended yesterday like we did Wednesday, with full on selling pressure. With that we got a 2Hr downtrend mark. I will likely continue to sit out of the market for the moment. With the 2hr beginning to show an uptrend, and the 4hr displaying it wants to continue the downtrend, I think the area in between is a clear No Go zone. Last Macro Trend Signal...
We snagged the 12hr Uptrend I'd said I believed we were getting, and then did reverse (so far) off that as predicted. If you don't have time to watch the video, here are the trends; Last Macro Trend Signal Spots 30m - 3793 Downtrend (10/06/2022) Higher Low 1Hr - 3769 Downtrend (10/06/2022) Higher Low 2Hr - 3707 Uptrend (10/03/2022) Lower High 3Hr - 3706 Uptrend...
So as I make my living trading on trends, and trends are now mathematically so out of sync, I will likely be sitting out of the market today (and most likely tomorrow as well). Obviously I had called a rally as we closed Friday, but certainly did not expect it to be hitting at this level. You'll see in the video that the Daily descending line appears it is going...
In the event you don't want to watch the video, here are the trends; Last Macro Trend Signal Spots 30m - 3636 Uptrend (10/03/2022) Lower High 1Hr - 3668 Uptrend (10/03/2022) Lower High 2Hr - 3707 Uptrend (10/03/2022) Lower High 3Hr - 3706 Uptrend (10/03/2022) Lower High 4Hr - 3745 Uptrend (10/04/2022) Lower High 6Hr - 3753 Uptrend (10/04/2022) Lower High 12Hr -...
I'm still sitting at my position of 3600, and with all the Downtrending timeframes, one might wonder why. I'm taking this position, because even if we are going to go down further, our current price action is beginning to be oversold too far away from our trends of the 3hr and above, excluding perhaps the Daily. So, on a short-term basis of the next week, I feel...
Not a lot of action overnight. On the Micro Level; The 5m and the 15m both have a higher high and lower low trend settled in. On the Main Medium Trends; All are in an uptrend. We are below our higher high uptrend of the 30m and 1h (purple and grey), but above the 2h and 3h (blue and red) uptrend lines. I'll likely wait for the micro levels to at least start...
So we are here again where the trend appears to be weakening. We are currently below the 30m lower high downtrend line, which I drew in this time. We haven't really been able to approach the 1-Hour Uptrend Higher High Line. I also drew in the 2-Hour Higher High Uptrend Line, which we have been failing to go below during several visits over the last week. All...
So trends continue to show a strong upside. Again, only the 12-Hour and Daily have a lower highs we are building improperly from. All other main timeframes are Higher Highs and Higher Lows. On the Micro Level, we actually have a lower high 5m, and the 15m had lower highs and lower lows we pushed past upward. The level I would watch to see if this Uptrend begins...
So I decided to wait until after the open to see how things turned out and it would be after we got our economic data for the day as well. In terms of trends, we had lower high 30m uptrends and higher low 30m downtrends ending yesterday, however we managed to get both back to higher highs and higher lows on the 30m. Additionally, we've struck twice off the...
Well, I had ended yesterday by mentioning I would be watching for a Gap Open, and sure enough, we had one. After closing at 4123, we opened at 4119. Overnight we had a change of the 1-Hour to a Downtrend right at 4099. Due to the major upswing of the 30m at 4143, it actually signaled lower than the 1H, and signaled in at 4085. This is really important to watch,...