A simple price action approach

its pretty simple to predict,being right is the problem,i f this happens ,and this,then this will probably be the outcome,lot of if;s ,but if you are watching for it and have things narrowed down to 3 or 4 scenarios,your choices are layed out and you can trade it vs 50 scenarios where its too complicated to come up with any vision

 

tl drawn if that becomes a low...its also a lunar eclipse forecast...just a possibility..as are alll predictions

 

Of course it is impossible to wait for all those charts to align...due to addictions to trade... or to get a statistically meaningful sample of those occurances to establish or deny positive expectation out of the setup.

There will be, of course, people that claim to win with that approach, the same as there are jackpots claimed everyday at Las Vegas slot machines...by WINNERS!

It is all about WINNING!.

 

Sorry, by "predict" I meant "predict correctly."

 

I believe that managing the outcomes is more important than predicting, but can't be sure. The sample size is too small !.

 

theres the rub,you just need to keep trying and raise the number/percenatge of times you are right,it can be done,just be prepared for when it doesnt work,as eud said

 

I bet you say that to all of the girls.

 

well price appears to not be continuing its uptrend. Maybe I was wrong. Wait, I don't predict; I can't be wrong.

I'm interested to see what SPY is going to do in the lat hour and 45 minutes of trading today.



I did think maybe it would come back down and bounce off that trend line and then go back up, but I have no idea.

It seems weird that price would break through a down trendline with a hammer and then keep going up. I mean... hypothetically speaking.

 

Seriously tho, would you guys say that if it doesn't bounce off this upcoming trendline that we are no longer in an uptrend?

Like at 132ish.

Or do you need a lower low to be made, such as something below 130, before the uptrend is broken?



There's also in inverted head and shoulders in there. Do you see it? The head is in the middle of March. That's super bullish right?

 

do you always use daily chart to prime your entrance into a trade?

as a short term trader, i would consider 131 as having broken the trend already but then that would be only my educated guess.

Among others, i also use 3 min chart to gauge my entrance among 30 min, daily and monthly et al as confirming supportive charts; which could be a far cry from your goals and objectives.