China A50 - down it goes again. It went down 4.1%. and CNBC said : ASIA MARKETS Mainland Chinese markets mixed after Lunar New Year holiday; Asia-Pacific markets decline PUBLISHED WED, FEB 17 20216:47 PM ESTUPDATED WED, FEB 17 202111:32 PM EST
KCalhoun- I could see taking a long position on the Vix here. Check out the 30 min charts. Ascending bumps with the (just below) 50ma as support.. trigger on fast stochastic cross above the 20. Or when it trips over the 50ma(which would probably trigger at the same time anyhow). Climbing atr. That’s what I’m reading. Also, a scathe pattern on the 5 min spx chart dating back to 2/16.. also the start of the vix bumps. I’m hedged short/profit taking- still net long. Gains need to be consilidated at some point(which may or may not be now- daily volume is a good tell).
Yes I know and tried before asking here. They have nothing for Scathe Pattern. https://www.google.com/search?q=sca...me.0.69i59.4503j1j15&sourceid=chrome&ie=UTF-8 Maybe there is a misspelling of some sort?
Fair enough.. similar to reverse Adam and Eve. Upside down cup and handle dilly-ish. The word scathe means only 1 thing. Look at the 5 minute on the date I mentioned. If you don’t see a scathe, I don’t know how I can help.
Learn something new all the time. Though I am a lost cause because I think patterns, other than price action and EW waves, suck. BTW got a book on patterns years ago (Trade Charts Pattern like the Pros by a fellow TradeStation user Suri Duddella who knows that chit top to bottom) - neither are in it, but as I say it doesn't mean much to me one way or the other.
I’m not trying to convert anyone. We do what works for us. It looks like tomorrow am *might be the trigger I describe. You mentioned EW. I’m looking for an ABC with downside potential to 3200
it's interesting that the S&P pattern from today looks identical to that of yesterday. On a 2-day chart it's still in a slight downtrend. As far as inverses go, small-cap TZA is the strongest, SQQQ and SDOW are in the middle, and UVXY weakest. I've got small positions in all, it'll be interesting to see which ones move earlier. SOXS, the semiconductor inverse, has also been strong the past couple of days.