neustaju

Hey Ammo, to get an idea about the accuracy of turning or "pivot" points, check out the video available at http://www.techniquetradingsolutions.com click on "market update for August 28th". The SUN and POT trade setups allowed daytraders to get a 4 dollar move due to the accuracy of the turning points. They offer classes in order to teach you how to calculate these turning points.

In Elliott Wave terms the Wolfe wave often includes variations of a "Terminal Impulse" wave. Also, I have noticed complex corrections form where the last segment of the correction is a triangle(4 goes into the area of 1). The break out following the completion of this triangle is the continuation of the prevailing trend (aka the wolfe wave). Becoming familiar with the Wolfe wave will help new traders distinguish the difference between corrective and trending behaviour.

Check out the Put activity on ESM8 while it is at 14010-1417 Apr 28th-May 2nd. T&S should reveal 500+ lots of short contracts being taken out with single prints. 1305 INDU closing prices.

:helloooo:At this point it is obvious Energy and healthcare+HUI.X hold the market up, while REIT's, *DJUSTC*banks/finance+ DJUSHB Hold the market down. XOI.x maintaining strength will allow profit when buyng dips (given BTK.X is up). I shorted today because I saw "STALLED" Buying in Energy. Easy 5pt drop in SP500 (1453-1488), But at that point I should known to buy the dips instead of short the rallies because tech,software, computer hardware etc had dramatically turned from negative to flat 30 min before said dop occured. Shortselling intraday has become an EASY SQUEEZE. Before shorting, my friends.. CHECK the weak sectors to increase weakness! Do you derive Buy/Sell Signals from LEADING sub-index influence? or do you wait for the stochastic to turn up?

Opportunities over Many markets I agree. Join with me to as we create an algorthim designed to factor in SUB-INDEX Leading buy/sell signals NEW THREAD Titled "Do Sub-Indexes hold the key to the door all traders are looking to open?"

Brownsfan, Congratulations! for shorting wave "4" (or "C") of "C". the "NO ZONE" for my entry for short was 1493.21. A 30 min candle closing in there was a reason to cover. I am also hoping for 1440 break because then I will have confidence in all in *long* at 1413.72. We hope wallstreet bulls will let shorts think we will break 1400 so we can have a great covering rally up to 1540. PLZ Wallsteet! NO sideways volatility for 4th Q/07 b4 we buy dips for the bull rally (5 of 3) up to 16000+ DOW

I understand that it really depends on individual style. From a purely technical chart patterns point of view though, the QQQQ provides safety from the negative effects sudden News Events can bring by weighting this movement against the other companies it is composed of. My previous quote I was referring to a "Top Down" approach, trading with the Dow/S&P intraday fluctions. Essentially, if my goal is to capitalize from the major index movements (while avoiding the increased risk of trading futures) then it makes the most sense to stick with index based ETF's.

It is a general strategy to trade an individual stock with the direction of the major indexes. As a beginning trader I assumed it was my job to analyze the futures markets then trade equities in the direction of the major intraday swings. Too often I have correctly traded with the intraday swings of the Dow/S&P only to find my stock move very little or in the opposite direction:crap:. I began to ask myself "Is this why some traders prefer futures over equities"? Doesnt it just make more sense to day-trade futures OR Index based ETF's such as the QQQQ rather than stocks?

Following the bullish candle you noticed, a rally enused retracing exactly 61.8% of the decline. Besides a bearish stochastic divergence present, Elliott wave principle states that a 5th *terminal* wave usually occurs when wave 4 takes the form of a "Triangle". This triangle is clear on monthly DJIA charts beginning Dec 1999 ending sep 2002. If this is true then there are 2 possibilites from here 1) I believe we are dropping to 11,997 minimum. However, by mid november I believe dow to be at 11,070 or 9,575. This downward move will be negated if there is ever a weekly closing candle above 13,450:helloooo: To view charts click on http://www.megaupload.com/?d=L9Y8GW8Y made with qcharts

For short term traders. Turn to a 10 min chart of AMD look to 09/04. A selloff begins to occur the last 30 minutes of the day. counting down from the candle that opened 13.33 and closed 13.25. We have 30 minutes of decline on 09/04 then 50 more minutes of decline on 09/05 ending ($12.75) Total decline = 80 minutes. Then price rallies for 20 min up to $12.97. Count 80 minutes over from the peak occuring 12.97. After 80 min price rallies for 80 min then changes direction again. I was long for this rally of 0.13 but exited after it failed to break through length of 61.8% previous rally. The most interesting part about this occured when watching the tape at this time 80 min interval. Huge lot buy orders 50k plus where streaming and they werent using market orders, only dark/hidden books. Using the fib time tool does not allow you to skip part of a wave (b for example) thus creating a "time rate of error".:helloooo:

There is another method of fibonacci time analyses (other than the time extension)that is little talked about. The other method used is *count how many minutes OR days OR months it takes for an entire price move to complete. Then divide by the time taken for the next move. Example *Using monthly chart of INTC= count the months down from the peak (roughly $75.00) occuring between 00-01. Counting 25 months all the way down to the bottom occuring end of 2002. Then price rallies up to $35 (disclude this "B"). At this point ask yourself, 25 and which number makes a fibonacci number? from the $35 peak count down 40 months and notice the rally that occurs. A (25) / C (40) = *1.6*. Major and minor trend changes occur under parameters such as this.

Hey Walter, I understand what you mean about the 911 situation. I'm not in a position to hold trades overnight either. All I mean to share with you is the belief that the patterns you are trading are identical to longer time patterns as well. To view the chart click on the link below. The file name is GLW +0.45. In the top right corner you will have to "Please Enter" several letters, then click "Download". The screen should change then seconds will begin counting down and the box will change to "Download". Click the download box and "open" or "save as" The chart program is Qcharts and it is posted in .BMP format. Goodluck, Justin MEGAUPLOAD - The leading online storage and file delivery service

I have uploaded a chart of a trade I made this morning on GLW (NYSE) using what you have called "Flip Trade". Rather than use a tick chart to find changing support/resistance, I view a 30min & 15min. I look at price history for several days/weeks or months to find old broken resistance to act as new support. Before the trade can be entered at this "support/resistance" zone, you must have Fibonacci projections or retracements lining up with it (fib cluster). Pay very close attention to the closing price on the 30 min candlesticks on May 25th. They are within $0.01 of the resistance candlestick closing prices which occured 7 trading days earlier. Finally, using a longer time frame will give you better candlestick signals (doji cross etc), you will make fewer trades, and the trades you make will give you a higher profit. There was too much data to attach the chart so I uploaded it to MEGAUPLOAD - The leading online storage and file delivery service Let me know if it works to view. If no then I can email it to you.

To Flip Trader: Great job on noticing this price pattern. Reminds me of Elliott Wave when wave 4 finds support/resistance at wave 1. Unless you get no commission/fees put away tick charts and pull out a 15 or 30 min chart. Look at past price history for several days and see if your same trading strategy can be applied. Make fewer trades and only enter based on long term analyisis because it limits your exposure to risk.

SoulTrader, Okay so perhaps not a video. But I have a feeling there is a way to identify institutional distribution or accumulation through viewing money flow combined with uptick/downtick volume.