RSI > 99, Money Flow > 99, %200 Volume Spike and Fibonacci Retracement

Discussion in 'Technical Analysis' started by Satan's Helper, Mar 25, 2013.

  1. RSI > 99, Money Flow > 99, %200 Volume Spike and Fibonacci Retracement

    Anybody using this technique for picking tops?

    Rule 1 the RSI is greater than 99.

    Rule 2 the MFI or Money Flow Indicator is greater than 99.

    Rule 3 the volume must spike at least %200.

    Rule 4 every time the Volume spikes more you keep shorting more.

    Rule 5 the Fibonacci retracement levels are used to scale out of position in two ways. The first is profit targets and the second is if the price crosses over a level then you get stopped out.

    Rule 6 (optional) if the Andrews Pitchfork is broken to the upside close out the position.

    Rule 7 This strategy is only used during the last week of options expiration and no Fed meetings are being held.
  2. What markets are you using this on?
  3. Anything that does not trend. Established large caps and choppy futures..
  4. I don't reply to devil worshippers...fwiw your nick is annoying
  5. I am not a Devil Worshiper! I am the right hand of our Dark Lord that one day you will learn to worship. I assist.

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    Lust after that stripper, hooker or your best friends wife.

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    The one who serves the Dark Lord.
  6. ahh now you're just fucking with me...

  7. Here is what I have to say to that hurricaneUS... Yes I have been dying to pull this mature response!!!!!

    <iframe width="420" height="315" src="" frameborder="0" allowfullscreen></iframe>
  8. No
    If you have 200% spike then most likely MFI will be close to 100. For that I use MVO (extracts bullish/bearish spikes) and then I wait when MFI or other money flow indicator to change its direction.

    Everything is quite subjective and depends on what you trade and in what time frame you are.

    I may keep an eye on it but I do not rely on it. I more trust volume indicators. Volume spikes and surges, volatility level, price direction and price level that's all on my opinion a trader needs.
  9. Lucrum




    does not necessarily indicate a top

    Guaranteed to fail

    some would argue random coincidence