Physically, price cannot go higher without passing through the Hammer's high, so it would make sense statistically.
I'm asking if, after price closes above the hammer's high, then is it more likely to go higher? Your statement is erroneous since I was asking what happens after what you stated occurs.
Cool. You should start a thread in the Journals sub forum where you make live calls ahead of time using hammers. I would subscribe.
those of us that are long stopped buying a long time ago. We are just looking for any warning signs of a top. We can be quite wrong and still make money.
Its early pm on Monday and the attached shot shows you that this current move is a brief long (on daily shart) which is ending today. as seen to the left at the end of a short trend, you see the value nodoji previously provided. I depicted the three moves within the current corresponding short that leads to an interday trend ordinarily. The long move now ending, thus, represents an FBO after the interday trend went thru an acceleration during the second short sub fractal move. For this situation to NOT be an FBO, the PRV would have to have exceeeded the trough 1 value of the 15th. It is very difficult to annotate price on this chart sinse the bars are not automatically degapped. For future anticipation, you know a trend ends on a dominant move. Then the next inter bar fractal trend (long) begins its overlap and you judege whether a BO or an FBO is occurrung on the long sub fractal potential first move of this next trend. Position trading the QQQ, may be a possible undertaking, but guessing bottoms cannot be part of that effort.
How can you make money when wrong? The only way I can think of is if you mean wrong "sometimes" and you're either right more than you're wrong (winners > losers), or you're wrong more than you're right but your winners are much bigger than your losers (like 80% losers, 20% winners, but each winner is 100 and each loser is 10). You're also the person who said you don't take losses but then said your monthly statement has losses on it. Also, can you elaborate on "warnings signs of a top"?
On a more serious note, so far it seems that this may have actually been the bottom. Today was a gap up out of nowhere.
trading vs longterm investing. I don't trade stocks, but most of my longterm investments are in stocks. I've been long stocks in some form or another since 1988. Sometimes more, sometimes less. I doubt I will get out at the top, but it would have to go down a lot before I go negative. first warning sign is nothing more than how long this bull has run without any kind of serious correction