most of the time yes, sometimes no, you will have to figure that out on your own as its not of much use coming from outside your head,all your trading decisions start there,everything outside fact or fiction has to be filtered by you to be useful, when they are in sinc and turn together its a nice layup trade
Thanks Ammo, I read on another thread you average in to a position? How does that work if you are waiting to see what will happen at a nip/ledge/cleave?
a lot of the time that can be a big turn number, ya never know before hand, if volume is light and gs,jpm and ms want to take most of the orderflow, and they can see the offers sitting , they will come in below the number,so when spx gets close to that area you start offering, it's fun to pick tops but in reality its just luck,if you kept track of the exact prediction and the real number, your percentage would be low, so forget about nailing those this tells you where there are an area of sellers or buyers, those waiting there need to be a larger army than those marching up for a turn
Great stuff, Thanks for the link too, will be hand drawing some charts over the coming weeks to get a different feel of the market than the usual charts.
do it for 6 months, your ego will have trouble arguing with your hand, sinks in, your hand will know where the likely next letter is going and where they will stop
Redbox, Could you post a few charts and maybe comment on the process as you do. Thanks for the link too, will be hand drawing some charts over the coming weeks to get a different feel of the market than the usual charts.[/quote]
you would have to take a pic of your graph paper and upload it, lot of work, the pic on the paper after awhile is all repetition , that's where your hand see's the market that your brain is trying to shrink , trying to decipher all the info you get bombarded with everyday whatever we believe , to us is true, may or may not be, this just forces you to imput the truth everyday, regardless of your assumptions, it's always right, eventually you let a lot of your beliefs melt away.. they talk a lot about the mental aspects of trading,mentally you are trying to streamline your thinking to adapt to the market and let all the other stuff needed in your head for everything else sit to the side
spx 1 yr cleave, uvol dvol looks like a trend day, 20 sma coming into 50 sma http://i.imgur.com/rVt3alU.png uvol up big against dvol since 11 05, spu's not rising. says buyers getting absorbed,haven't figured this piece of info out yet, have seen it several times, but watching it hoping one day the light goes on http://i.imgur.com/VLlFPbu.png