Deal. I'll remind you to check my stats every two weeks starting from today (without posting direct links to not violate ET terms). We'll see if your TA premise strengthens or changes. Cannot say I trade "just" TA though, more in a style so well explained by Vic Sperandeo who's works I consider the basis of my trading career.
My pleasure. Wyckoff was the grandfather of algos which are just pushing the envelope on his idea in a way that was impossible to see without computers. I don't want to present Wyckoff as the perfect- every- time- tool for all time frames and Bar Mitzvah's because there isn't any TA tool like that. However there are many, many times when the unmistakable footprint of the big operator is screaming and learning how to read Wyckoff does expose the strong hands as fast in the 1st minute they play. It's very much a Livermore's style.
...and you're learning how to see TA Price Drivers Seen any elephants recently? (I re-posted to add resistance to make it clearer)
What is your chart telling you about Monday? You TA folks speak in riddles that can easily be interpreted after the fact to mean anything. Please be specific. My Price Drivers are signaling bullish for Monday. I maintain, once TA shows it, its too late or of negligible value in MOST cases. Enough so to negate the value of such an approach. Clearly, it can be shown in a very small number of circumstances to have value-- such as the daily candle in JCP-- but its not repeatable enough to be of interest. surf
It is telling you the welcome mat has been replaced by the trap door. It's not talking about Monday, it's talking about now - take profits and reverse short. You hold that short until you get a buy signal and that might be on Monday. It might be in a week or a month as this has the potential to roll through a lot of time frames. This is a dangerous position to be long imo because of the roll over potential. In any event bank profits, sell short and wait for the buy signal.