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Dogpile

Taylor Trading Technique

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Am i the only one left:confused: I had today as a short sell and as you know from my pevious post i was short,expecting some unwinding from the recent 956 top which finally happened today.(though,as usual it was best to be already short from last week as after the initial drop it was mostly sideways). Sticking with my R-10 multiples (see prev chart) short targets from 956 high/946 fri close,for today were 926 (hit) 916 (no doubt coming to a chart near you soon and 912 (elliott wave support) is still in play).There was also an outstanding gap below at 919.1-923.2 from may 27 which we all but closed today but the rally from there was weak and i would not consider a small reaction long play until around 912 at the moment.(cautious at that).

tues is buy day and futures tonight are barely in the red so expect a mixed open as probably traders consider how deep this pullback might be.I dont see us testing march lows at 666 just yet- a pullback then a shot at 961 and levels up to 1000 would suck in retail weak hands.That would be the ideal scenario for another panic plunge that would be needed to end this bear,But i.m sure there's many twists and turns yet.:)

If nobody else is gonna join me here i might just stick to TA thread....

 

I like your R-10 theory and today we went to 906.

 

I use something a bit different which is based on Gann's square. Based on the high of 957.50 I get R/S every 7.75 points at the moment. that would be every 22.5 degrees. If I use 30 degrees I get 10.25 points which is close to yours.

 

As far as TTT is concern we are on a different cycle. I had today a Sell day. We had a very small rally and closed below the Buy day low. That is not good for the bulls but we do have good odds of making it back to atleast the Buy day low by the close tomorrow.

 

will just have to wait and see.

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Am i the only one left ... 912 (elliott wave support) is still in play).There was also an outstanding gap below at 919.1-923.2 from may 27 which we all but closed today but the rally from there was weak and i would not consider a small reaction long play until around 912 at the moment.(cautious at that).

 

I am using the same cycle as richbois, and therefore my cycle is different from yours. I don't use squares and Ganns and so forth, but I agree with you EW levels. I have 912 as an important support level, and the next one I have of real importance 850 (848 to be exact).

 

Best Wishes,

 

Thales

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Agree it's looking weak and your buy day low is not much of a target- it could go to mid 20's lows of last week and at most 935 resistance but i doubt it's got any chance. I don't want to be a buyer with this breakout short from the recent high sideways range and i believe that the smart money is selling.If so,(and it will be interesting to see weds what happens), then support levels will mean nothing as you will get capitulation and more momentum.If weds ends near a high i would be looking to short early thurs as that would be my next sort day in the cycle.

I don't believe this will be more than a pullback and 1000 is more likely to get hit before march low but these bear market moves always go further than you expect-the recent rally a case in point.

 

using TTT I dont think that far as 1000 or 666

 

tomorrow being a SS day (based on my count) my 1st resistance will be the Bd Low and then 924-925 area (today's high) and if we get an average penetration 935 area.

if by any chance the bulls decide to wake up my next average 3 day rally levels is 945-952 ( Not holding my breath on that one)

 

Having said all that, longer term I too believe that we should get another push higher

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using TTT I dont think that far as 1000 or 666

 

tomorrow being a SS day (based on my count) my 1st resistance will be the Bd Low and then 924-925 area (today's high) and if we get an average penetration 935 area.

if by any chance the bulls decide to wake up my next average 3 day rally levels is 945-952 ( Not holding my breath on that one)

 

To those interested in actually applying TTT, please note richbois's use of prior low and prior high. TTT works when properly applied because it is built upon support and resistance and price action.

 

Best Wishes,

 

Thales

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..... welcome back... good luck trying to get this thread going again.....

.... personal posters dominate here.....

 

My 2 last buy days in the cycle were tues and fri.The lows on tues 911.6 and fri 915.8 mean the short term trend is long.The week low was on weds (903.7-call it 904) using the rule of ten up to elliott resistance 935 gives a possible target 934/935 which,if not broken we could continue down from the recent 956 high. With a sell day on mon/short tues i'm visualizing a cont'd rally to 934/5 on mon and sell off tues... but,of course will try to trade what actually happens.

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.... see what i mean ?

 

.... that particular poster was Blowhard....

 

Sadly everyone had issue with one particular poster so they all went. <shrug> cest la vie.

 

..... welcome back... good luck trying to get this thread going again.....

.... personal posters dominate here.....

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hey mit,

 

...why don't you start a rule of ten journal .... that might make an interesting journal....as well

 

.... i would be interested in a journal based only on rule of ten

Anyway it's a sell day for me which usually means it rallies all day and i have to assume the smart money is selling into it.:(:)With the opening range today putting in a possible high Or low made first my strategy is to sell 912 resistance or/and 916 which is R-10 from 896.3 open.It looks like low made made first is most probable though.

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... let me know when you are ready....

... this thread is toast....

 

You know what? It's funny you should say that,i have been mullin' over the idea for a while now.Might get it started this week-some foundation work,but am going away for 10 days from sat,so would probably begin trading it after that.

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highs and lows made first and last

 

.. in series and mixed

-----------

 

penetrations made first and last

 

..and failures to penetrate

-------------

 

buying day lows under

 

higher buying day bottoms

 

buying day low violations

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tuesday short sale day

wednesday ... buy day

... look for a test of overnight low as a buy point

... if big up move... close out same day

... if strong close... hold into next session

..maybe have to buy a higher bottom on buy day

 

proper strategy is to wait for wednesday session to buy rather than to buy on tuesday

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prev high hit during globex

 

... close out

-----------------------------------------

 

may have to sit out on sell day .. thursday

 

the day to put out a short is short sell day on friday... if conditions are right

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... unless objective is hit early.... on a high made first

prev high hit during globex

... close out

-----------------------------------------

may have to sit out on sell day .. thursday

the day to put out a short is short sell day on friday... if conditions are right

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....today friday...short sale day

...appears to be putting in a low made first

 

it is possible to make a long entry here... but the risk is higher than a low made first on buy day which would be monday

 

strong close on thursday ... sets up a gap up

for a high made first on short sale day ... for a short

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.... monday is a buy day .... looking for a low made first....

...

....today friday...short sale day

...appears to be putting in a low made first

it is possible to make a long entry here... but the risk is higher than a low made first on buy day which would be monday

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