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CharterJoe
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I am going out on a limb and saying I think this is a short term low, being the 8th and Yom Kippur and 977 just a few min ago.
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myptofvu
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Now that I've gotten used to this volatility were am I gonna find a market like it once this settles down?
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CharterJoe
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I trade more contracts when it slows, less when its moving like it is.
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culsu
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Posts: 48
Not that I plan to trade this, but I want to see if I understand CharterJoe's method correctly. 1009 is a sq nine AND a prime, so with overbought stochastics, would this be a good short and if so, do you play it be ear in terms of exit?
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myptofvu
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Posts: 666
quote:
Originally posted by CharterJoe
Having trouble at 1009 Sq nine. Exited at 1007 +11 on that one.
I'm curious about your sq nines. I sometimes see S/R that I cant explain I wonder if your sq 9 explains it. Was there a sq 9 at 1014.50 @ 8:26 this morning by chance?
Nice trade btw.
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CharterJoe
Rep: 4,475
Posts: 2,352
quote:
Originally posted by culsu
Not that I plan to trade this, but I want to see if I understand CharterJoe's method correctly. 1009 is a sq nine AND a prime, so with overbought stochastics, would this be a good short and if so, do you play it be ear in terms of exit?
That is correct. But I wouldn't take here is why; the 30 min chart is moving out of its downtrend so its a higher risk trade so don't expect much. And I don't watch stochastics, I just watch the RSI. The best time to trade the 1009 would have been at 13:20 being the first time it hit 1009 in a while, 2) the RSI was overbought and a neg divergence, and 3) highest $tick reading all day. All other 1009 would have been scratched. Until 1009 hasn't been touched in a while
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CharterJoe
Rep: 4,475
Posts: 2,352
I love Pivots...daily, weekly, monthly, I love it even better when there's a sq of nine near by.
As to your 2nd question it really doesn't matter why .146 (its phi to the 4th power) and .25 (1/4 or 2/8ths) but it all has to do with sq of nine....from each of my sq of nine numbers is sq root + or - .25 and then squared reason being that has to do with squaring a circle. All that matters is that it works.....146 used to work beautifully but now it moves that much in 2 min, so I don't use that any more once the markets calm down it will be useful once again.
As to your 2nd question it really doesn't matter why .146 (its phi to the 4th power) and .25 (1/4 or 2/8ths) but it all has to do with sq of nine....from each of my sq of nine numbers is sq root + or - .25 and then squared reason being that has to do with squaring a circle. All that matters is that it works.....146 used to work beautifully but now it moves that much in 2 min, so I don't use that any more once the markets calm down it will be useful once again.