A Complete Trading Approach

Discussion in 'Trading' started by Joe Ross, Apr 27, 2009.

  1. Hey Joe! I’m an intermediate-term trader in the full S&P 500. I’m trying to fill out my trading method so that it is a complete technical trading approach. Do you have any thoughts on this?

    A complete trading approach should equate about two or three weekly intermediate tops and bottoms per monthly major top and bottom movement. About the same number of short term tops and bottoms should appear for the intermediate term price movements. The advantage of a pattern recognition system, like the 1-2-3, involves always knowing where one trend is in relationship to other trends. Several times a daily signal will achieve a weekly time and price objective, without a short term reversal. A sharp retracement is normally expected after that occurrence, of about 150% of the normal short term counter trend movement. An S&P short term 300% over extension may expect a 180% counter trend overextension.
     
  2. ?....??.....???......!.....180 divide by 300 approximately equals 0.618, a fibonacci retracement! :cool: