Havent heard from him in a while. Hope he is okay, but this may be his busy season at work too.
Es, love the pump at 4pm. I covered my short 5min before close for a quick scalp. Was a great week with the girl....next week we continue the trend imo
Hi Qone0, and all. I have just been hanging out working on my strategies as usual. I do like the those thunderbolt, ABCD, 123 patterns.
This has been one of my favorite set ups lately.
1. Oversold RSI (below 30)(positive divergence increases the probability) 2. MACD has to crossover to bullish (but can still be below the zero level) 3. Look for a pattern such as a double bottom or 123 to break and close above 4. Price MUST close above the 26 EMA for a buy trigger once all the above criteria have been met 5. Target minimum is a 1:1 to scale out but a 1:2 is preferred. Also look for a run to the 200 MA.
The 123 pattern is pretty simple to trade, buy on a close above 2 and stop loss at 3 (once the above conditions are met).
Made some decent $$ on TVIX plays last month.
I was looking at the futures chart and from my basic theory on EW stuff is that after a 5 wave it is possible to have an ABCD correction back down into the 3,4 area and then a continuation of the current trend. Any thoughts on that one?
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