Wednesday, October 19, 2016 11:03:46 AM
You ask me if I saw a buy on TNA a couple of days ago and I not sure I really answered your question correctly.
Historically I have traded a 60min chart and it has worked well until the market went flat several times over the last month or so. I trade my 60min chart off of Phases determined by MACD 85,90,10. This process is described in the introdution.
I have learned over the years that when the market goes into Distribution (denoted by the purple box) that it is best to just get out of the market and sit in cash. DS started 9/29. Since that time prices have finally fallen and the phase has now changed to Mark Down (red) which is what is wanted for a set up.
M85 (short for MACD85,90,1) has now flattened so this is the setup I look for to go long. With the bottom being very flat it makes finding an entry much harder, but my fall back point is when MA 50 is crossed which currently sits at 74.85 (TNA). My 2 other key trigger points for this situation are MACD 12,26,1 crossing zero or the Phase moving to AC (accumulation).
From a count standpoint we are either in wave 2 of a new up HC (half cycle) or wave B of a continued down HC. So this doesn't help me much to decide what is going on.
So I am still very leary of this market, but if it continues to move up, I will be forced to go long.
I think this better answers your question.
Historically I have traded a 60min chart and it has worked well until the market went flat several times over the last month or so. I trade my 60min chart off of Phases determined by MACD 85,90,10. This process is described in the introdution.
I have learned over the years that when the market goes into Distribution (denoted by the purple box) that it is best to just get out of the market and sit in cash. DS started 9/29. Since that time prices have finally fallen and the phase has now changed to Mark Down (red) which is what is wanted for a set up.
M85 (short for MACD85,90,1) has now flattened so this is the setup I look for to go long. With the bottom being very flat it makes finding an entry much harder, but my fall back point is when MA 50 is crossed which currently sits at 74.85 (TNA). My 2 other key trigger points for this situation are MACD 12,26,1 crossing zero or the Phase moving to AC (accumulation).
From a count standpoint we are either in wave 2 of a new up HC (half cycle) or wave B of a continued down HC. So this doesn't help me much to decide what is going on.
So I am still very leary of this market, but if it continues to move up, I will be forced to go long.
I think this better answers your question.
Trade the Charts and not the Heart - Expect the trend to
continue until it doesn't - Realtime is the real deal
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