I am not asking anyone to do my job ma' chap , I don´t do charts. Last time someone mentioned my mother online was during playing a game with a bunch of teenagers, not sure what to think here. I asked the question because you guys love charts, it is all about charts isn't it. The answer is different from yours, the market went up in a rally. Sorry but your TA has failed you. If you want to feel better, I am sure many TA experts would have replied in a very similar fashion. I picked that chart because it is an example of how institutional money can change patterns suddenly and leave your shitty TA techniques in underwear.
Automated risk and money management, dear. That is what worked, and keeps working. A bit of more action today, things are getting up to normal.
Replying to me? With what I described, institutional money footprints can be seen. Posting a single chart without price, volume and time is like giving someone a football but without teams, a field, nor goalposts and expecting them to call the outcome of a game.
Ok, I will give you a straight up answer. If I have to do something right here it is Buy. The trend is definitely up and it got too far extended too fast and had a double top and necessary retracement. Just eyeballing it it looks like the retracement stopped at about the 61.8% fib retracement and is heading up. That said, the 3rd bar from the end is a pinbar that rejected a very key resistance area and the last two bars are inside bars of the mother bar. So if it cannot break through the resistance at the top of the mother bar (third bar from end of chart) and instead breaks through the bottom of the mother bar I would shift to Sell. Interesting puzzle. Thanks for posting. I assume we get your answer after all the analysis is in.
I dig that you posted that chart up. there's another thread just for that. Student of the markets and a couple of other et'ers played for a while but fell out pretty quick. Here is the post to which we are referring... https://www.elitetrader.com/et/thre...al-analysis-works.367351/page-67#post-5662488 I do not think that you were "asking anyone to do my job". That little love note was for my bud SimpleMeLike. He's on board with some method of his and from what I gather don't do stats on any of his schemes. Then rides everybody's ass that mentions a method or a setup or has a website or a youtube, and god forbid ya write a book or give a presention, he sees ya with horns on ya haid with a machete ready to chop off a arm and start stealin wallets. He starts into his screed like that gang of hyenas do and demands "Performance Data" So i figured that this was an excellent opportunity to again make my point, and whether that trade hits the target or not does not mean shit to a toad. The method of statting out a setup / trigger based on a set of written rules consistently executed is the point of my message, and I had SimpleMeLike in mind when I wrote it. Now Me and SML been down this road before over in a thread somewhere chapter and verse. SML know that and persists with the Kvetch routine pissing on carpets in threads all over ET about charlatins, theives, scoundrels, instead of promoting, Self Responsibility, Due Diligence, Buyer beware, and giving some of these ideas that get presented some room to breathe. Jackals and hyenas jump in with pridictable posturing pontification and negative bullshit and pretty soon it smells like a three day old primate cage at the zoo. Yeah, just go in there and do some thinkin'. We'll be back in a couple hours to let ya out. Clean up a little if ya got a minute.
Yes I see that now after I refreshed my screen. So if my TA worked in this unknown chart ya gotta give TA a teensy weenie bit of love don't you -- unh?