Give your best explanation on why a rounded top is a sign of trend dying.

Discussion in 'Technical Analysis' started by Risepoint1879, Feb 10, 2019.

  1. traderob

    traderob

    I find this pattern works ....

    50% of the time.
    v7jfdrli4lqz.png
     
    #11     Feb 11, 2019
    Nobert, murray t turtle and schweiz like this.
  2. %%
    The PE is a bit low 50; + debt a bit hi=217%.
    BUT overall its still a good UP trend, if one ''knows'' how to read charts;
    up YTD
    UP 1 year
    Up 3 years
    Up 7 years
    UP 5 hour charts
    UP above 50 dma
    up above 200 day moving average
    up from your entry[OOPs 1 minute= noise chart]
    Above AVerage uptrend

    IF that was me; i would print out plenty of those daily/weekly/monthly charts;
    + change my plan =if one wants a profit??

    IF i wanted thrills + not much profits; keep trying to pull pennies out of 1 minute noise.Ever wonder why even hedge funds update clients every month+ not every 1 minute??:cool::cool: NOT a prediction;its still a good/liquid uptrend.
     
    #12     Feb 11, 2019
  3. iccenuol

    iccenuol


    Maybe you're over-analysing the issue? The chart below illustrates a bull phase on the ES, I've put an arrow under the last area of my buying interest within that particular phase. The point being, you follow your method until it stops working. Sometimes the tops are bit 'rounded', sometimes a bit 'pointy'...I wouldn't get too concerned about it, don't try and read too much into it buddy.

    ESH19_Barchart_Interactive_Chart_02_11_2019.png
     
    #13     Feb 11, 2019
  4. Some of that applies.

    But back to the OP... who "knows" about this being a "rounded top"? Odds good that neither is correct.

    For a possible rounded top, ref IWM from Aug-Oct.
     
    #14     Feb 11, 2019
    murray t turtle likes this.
  5. %%
    BIG MISTAKE to confuse a weather forecast with ''weather prediction/know'' Farmer Almanac is right about 80%.

    An uptrend is so full of tops/higher highs, higher lows, higher lows, higher closes; for maximum cost of commissions , maximum thrills+ maximum confusion, use only a 1 minute chart [sarcasm].Usually buy tech stocks/QQQ in OCT works well, ;except 2018 LOL:D:D
     
    #15     Feb 13, 2019