I don’t see any tricks so I have no idea about tomorrow. Today is another cycle end, see cyan vertical line below, so could be a turning point which means a top of some kind (hey, whose tomato is this? Oh, eggs are welcome just don’t throw directly to me… #$@#*%&*@#$$%).
The longer history about cycles on 60 min chart as below, well, didn’t work 100% but still it worked, right? TA is about finding odds and sticking to it for winning on a longer period of time, blah blah blah…
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thx, ding
ReplyDeleteI still don't understand the how the cycle thing works. can you elaborate more about it?
ReplyDeleteChao,
ReplyDeleteFor example: market up until the cycle end then next cycle could be a down cycle. That's it, very simple.
How I found the cycle? I use the cycle tool (provided by stockcharts.com) to try different cycle and keep the one that I find mostly worked in the past (e.g. 7 out of 10 times it worked) then this one could be the cycle I need as it's supposed to have 70% winning rate (at least in the past).
I suppose this cycle or seasonality is a pretty weak indicator, right?
ReplyDeleteYes, at least I don't trade based merely on cycles.
ReplyDeletecobra, great blog
ReplyDeletewhat do you make of the last 4 candles?
dojis, shooting stars, hanging man, etc
indecision or turning point?
Indecision by definition. Just the INDU has been up 8 days in a row with volume decreased day by day on the last 5 days, if the traditional TA I learnt still work, INDU should pullback very soon.
ReplyDeleteThanks Cobra. Flowers for you :-)
ReplyDeletehaha....tomato was from a girl....
ReplyDeleteThanks Cobra. Black Underwear for you.
ReplyDeletethx,man, we got a long movie, watching and watching
ReplyDeleteI feel your frustration, what good are technicals if the market ignores them? I went with my favorite technical indicator today and bought some Sep 96 SPY puts, this last move up feels toppy and weak. We shall see.
ReplyDelete