Thank You, You are absolutely right and you have a common sense ,which is as you can see in very short supply on this forum . if you TA tells you to go somewhere around posted time, do it with small stops and chances are you will be 80% correct. You have to pick trades and take just those which are clearly defined by your method. Posted times give you completely unrelated time signal as a means of additional confirmation. Thanks, Walter
Thanks, I will probably just do couple more days , I will take a fishing trip for a couple of days next week. Talk to you guys on Monday Walter
The 11:35 call was excellent, Walter. (I am sorry that I was not paying attention to the board this morning and therefor missed your call.) Keep those good calls coming! range
My favorite times for reversals are 11:30 and 12:45. Today the reversals took place at 11:30 (the peak) and 12:50 (the bottom). Things like that happen more often than most realize, they simply reflect chart symmetries.
Well, that's the only way to understand it and that's the way I understand it. I also use times like that in my market analysis, but I simply look at three moments during the day only: 11:30, 12:45, 14:00-14:30.
Ambiguous because ON THIS THREAD you didn't say which way the market would go. As for the rational, you posted it already (but after I'd asked).
The second major bottom today was formed between 14:00 and 14:30 as if to confirm what I said above, but I mentioned these times long time ago in some thread started by Walther. Some people tend to skip the midday period, but by doing so they can miss beginnings of bigger intraday trends. Of course, the midday tends to be pretty choppy too, so it's not necessarily a bad idea to stay on the sidelines.