Inverted head and shoulders on the SPX?

Discussion in 'Trading' started by fantastic4, Jan 28, 2009.

  1. dsq

    dsq

    have you ever read the edwards mcgee book?do you even know what an inverted hs looks like???Obviously not and nor does the idiot in the video...That chart doesnt come close to an hs ...people using esoteric terms not even knowing basic crap about charting is basically what the problem is with a lot of ta and charting-everybody bends the rules to suit their predictions...what a joke...
     
    #11     Jan 28, 2009
  2. Continuing to cycle short positions in and out as we probe new highs......sold 867's to 869's this rotation up. :)
     
    #12     Jan 28, 2009
  3. Filled additional positions at 871.50s....first target now at 864.00
    :)
     
    #13     Jan 28, 2009
  4. Damn, that's a huge position you got open right before the Fed announcement.
     
    #14     Jan 28, 2009
  5. So based on your posts, you fight the trend by continuing to average in each time price goes further against you, and you never use stops? All right in front of the FOMC announcement? :confused:
     
    #15     Jan 28, 2009
  6. Ok...cycled positions out with initial news release drop to 868's and now have new position fills at 873.50 and 874.50 with new high. :)
     
    #16     Jan 28, 2009
  7. The news had the market trade to 868's so I cycle positions out and clear out remaining at b/e plus one tick on each new high attempt.......Short positions I have on now are at 873.50 and 874.50. Positions entered just above the previous high.......I will will keep doing this for each new high for today. First major target is now at 868.00 for just over 5 points.


    BTW....I do not FIGHT the major trend.....DOWN.
     
    #17     Jan 28, 2009
  8. ES 868.00's tagged out for a little over 5 points.....next target will be 863's :)
     
    #18     Jan 28, 2009
  9. Yes but news gives excellent price reactions/volatility........traded it live calls in the AIM chatroom that some of the ET'rs from the ET CHAT had set up the other day. :)
     
    #19     Jan 28, 2009
  10. ES 863's all filled for just over 10 points.......next target is at 858.00........then last 50% of position I will let ride according to daily price action. :)
     
    #20     Jan 28, 2009