Just wanted to ask Db if you posting the XLE chart has any significance to the NQ, or if you're just applying SLA/AMT to a different instrument. Is there also any particular reason why you choose to follow XLE versus CL that is all the rage these days, or rather, does one lag the other or vice versa and hence is there correlation? I didn't know what XLE was and now that I see its the energy sector, it got me curious as to the reasons for your interest here. Thanks.
The latter. I avoid instruments that are "all the rage". If it moves properly, an etf can be held for days, weeks, months.
I should also point out that XLE is the only S&P Sector ETF that is at a multi-year potential buypoint.
Actually I'm blowing Wyckoff's trumpet. And in case you didn't get the memo, the sort of passive-aggressive hostility you exhibit is characteristic of the unsuccessful trader.
I'm a bit confused about what your question refers to, but if you mean what is the purpose of the XLE weekly chart posted, then we can certainly see that price is now at the bottom of the channel. AMT would favor going back up, and hence why you say that its the only one at a potential buypoint.
No KP, he is referring to a chart that I posted then removed as it was not really relevant to this thread. Sorry.
Watson... I'd like to give you a genuine reply if I may because I'd like to believe that you are actually looking for help and not just coming here to troll. Have you heard that expression "Whether you think you can, or think you can't, you're right"? If your deep down belief is that what Db teaches doesn't work, then what else do you have to prove? People with an agenda like this usually find comfort in seeing others fail so that they can feel better about their own failure. If you're trying to tell Db that what he is doing to make money doesn't work, then you're really just wasting your time. I think you absolutely have to put the ego aside... it has no place in trading whatsoever. If you really want to move forward, you just have to admit to yourself that for the past 5 years you haven't been doing well and that you in fact don't have the skills yet to trade profitably. So if you don't know how, and you believe that people can trade, then you have to open your mind up to there being something out there that you don't yet know but can learn. Right now you're just coming off rather rude. Db has an incredibly thick skin so none of your comments will affect him one way or another. But if your comments continue to be rude, it will be simple to just have them removed from this thread if he so wishes. So you won't accomplish anything in this regard. But if your act of lashing out here is really just frustration with failing, then start by fully accepting your failure. I'm by no means a professional in this regard and all I can tell you is all the shit that I've been feeling through my own struggle to learn to trade. You're not a failed person, you're just simply a trader that has failed to make money in the past. What you've been doing up till now didn't work, that's all. So you can either choose to learn to move forward, or be stuck with your failure and find comfort in trying to find others to agree with your viewpoint. Choose whichever you feel will be more beneficial to you in the long run.