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roofer
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HERE IS THE CHART,,,i have alot on my plate tonite and will probably be up most of the nite as is...so i will post as i can in segments....my basic premise is that one of two things is happening.... an abcd where we are trying to catch d wave sharp selloff or we are in the midst of a very hard to trade triangle with tons of abcd's and endless overlapping waves....
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roofer
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A
on monday jim asked if i had position and i said long SPXU... on tues at 1030 i had to leave my screen to go to doctors..a retest sell signal was in place yet we know an abcd would negate that signal... so i calculated the 1.27 as the furthest an abcd could go so i put my stop a few pennies below that and left... that is how iused knowledge of abcd AT THAT MOMENT IN TIME
MOMENT A
on monday jim asked if i had position and i said long SPXU... on tues at 1030 i had to leave my screen to go to doctors..a retest sell signal was in place yet we know an abcd would negate that signal... so i calculated the 1.27 as the furthest an abcd could go so i put my stop a few pennies below that and left... that is how iused knowledge of abcd AT THAT MOMENT IN TIME
MOMENT A
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roofer
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LIFE INTERVENES..my wife's mother is dying so she is making frequent trips east and one of the few things she still likes to eat is this bananna bread i make so i am cranking out some loaves..
B C..
on yesterdays close the red line green set was in place so once again i was long SPXU..first target medianline...now think this through a few times if you want to grasp the thinking... the move to the medianline was an abcd with and abcd in the bc leg... we know from jim's work that that in itself can be a continuation down once again....but if you were trading as i was in the bigger context... THE ONLY WAY I KNOW FOR SURE... again FOR SURE!... IS if price takes out the abcd at point B.. NORMALLY if i am trying for bigger trade i take half off at line and put stop on rest at break even allowing for 886 algo to setup... but in this case i used the abcd at B AND tightened my stop up to the hash mark at B...
B C..
on yesterdays close the red line green set was in place so once again i was long SPXU..first target medianline...now think this through a few times if you want to grasp the thinking... the move to the medianline was an abcd with and abcd in the bc leg... we know from jim's work that that in itself can be a continuation down once again....but if you were trading as i was in the bigger context... THE ONLY WAY I KNOW FOR SURE... again FOR SURE!... IS if price takes out the abcd at point B.. NORMALLY if i am trying for bigger trade i take half off at line and put stop on rest at break even allowing for 886 algo to setup... but in this case i used the abcd at B AND tightened my stop up to the hash mark at B...
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roofer
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LONG NITE JUST GOT LONGER...had to talk to my daughter about her practice in the big city....
D
price ralLied to point D
RAT POINTED OUT price at line at fib
because it was POTENTIAL completed abcd went flat at line based on using abcd as thinking tool.remember... one of the two scenarios is triangle... in which case should expect endless abcd's and overlapping waves... i have spoken in the past of looking to the vxx for support and trading derivatively.... what is klassic klassic kane?pattern line fib.. what is the ideal? an abcd that completes at fib at Xmarks spot.look what happened in vxx to TOTALLY SUPPORT the completion of another abcd in the SPXU before it launched higher....... to the overlapping 1.27's where i called it a day....here i must call it a night...
D
price ralLied to point D
RAT POINTED OUT price at line at fib
because it was POTENTIAL completed abcd went flat at line based on using abcd as thinking tool.remember... one of the two scenarios is triangle... in which case should expect endless abcd's and overlapping waves... i have spoken in the past of looking to the vxx for support and trading derivatively.... what is klassic klassic kane?pattern line fib.. what is the ideal? an abcd that completes at fib at Xmarks spot.look what happened in vxx to TOTALLY SUPPORT the completion of another abcd in the SPXU before it launched higher....... to the overlapping 1.27's where i called it a day....here i must call it a night...
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roofer
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Posts: 3,574
one last chart. perhaps i assume too much... i assume everyone had this chart drawn... adding support for closing out at end of day....
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