%% I do something like that also; not with DOW transports, even if they are part of SPY/S&P 500 LOL.Victory+ Victor is helpful, never was quite sure how he draws his straight trend lines?? Mine seem to be much more crooked LOL-200 +day............ moving average..LOL
Here’s how Victor draws his straight trendlines NOWADAYS. He copied the technique from me, hahahaha. Take your trendline to one of the best Aikido tools in existence. Regular trendline drawing is as per Bible, TA of stock trends. However since nobody on planet Earth has ever had the kahunas to tackle the BEND IN THe TREND, It is my driving area of interest. here’s how
You have to stop agreeing with the PURE PRICE action patron saints and be willing to draw upon the best of the best of Price’s best and most trustworthy friends. There are only 2. pick one. On any timeframe watch for a significant Macd wave low that Price is showing as a series of higher highs. Then draw the log scale trendline on Price, not on Macd. This technique will keep you in the trend until it bends and get you out ooooohhhhhh so close to the top. .
Weekly SPX. ... Macd started disagreeing with Price on 12/23/13 and kept disagreeing on all subsequent minor tops till it could bear it no longer and crashed into the wave low on 2/8/16. Notice that this Macd wave low is even lower than that of the 9/26/11 Macd Low. That’s a bonus. Now draw your empire trend busting trendline from 2009 low thru’ 2/8/16 Price low and extend. Trendline break occurs on 10/22/18. But Overnight would be petrified to TP and go S. So he waited and waited. Next opportunity came 11/19/18. Again he choked. Then on 12/3/18 he came to my house for a hug. Only then did he TP and exit. And mind you this is weekly timeframe, hardly the sharp tool for chiseling out finer nuances. But look ooh la la. ..... where is the magnificente SPX current rally at today? Why of course it has arrived exactly at MY trendline. . .
Oh yo yo yo Some INVESTOR cats who swear by the RSI 60/40 trading system which works on all timeframes, are now petrified to notice and act on that SPX weekly already gave BEAR Market signal when RSI < 40 on 12/17/18. Hahahaha. What scares the daylights out of them? Hahaha. RSI says it’s still a BEAR because it has not taken out RSI 60 yet. The Christmas rally put them into such serious doubt they cannae sleep. They were ready to can the system. I’m in evaluation mode of this system for the next 6 months or so so it’s by no means in my top 3 just yet. However, one gots to follow one’s system at all times, religiously.
%% If i had to chose the most useless of PSAR + RSI, or 65dma-tough , tough choice.My choice would be all 3, even though PSAR helped on silver trend @ $50 area once.LOL/true. NOW if only we can find another trend like$50 silver; maybe TSLA hits $50. LOL Victory;NOT a prediction.
$1 bet that Jeffrey Kennedy is watching this ONE thing on SPY like a hawk. ...... It’s called the hook. Macd refuses to cross signal line upward but instead turns down. He loves these types of trades (daily). Will it work this time? Sure would be sweet