Catch sharks.... once a nice profit is made and signals conflict, will go fish out those sharks..... SP500 1hour/10 min showing divergence... bullish so gap can close but ALSI only shows it on 5 min.... but ususally if gap does not close within the hour, unlikely to close. But remember, Christos has a Christos ball
Christos, mark fridays high on 10 or 15 min ALSI, and call the longest wave , wave 3......38.2 retrace takes us right up to the gap at about 28400 and a 61.8% retrace will close the gap at around 28600. 1322 on the SP will close the gap..
Frost, what time frame you use now. I had the same experiences as you with short times, but on the other side the long frames takes long time to develop and one sits around the screen for long hours - not healthy habit for body...
I trade 15Min and some times 5min..and use 4h charts for longer term trades..What I leaned is that you dont have to sit in front of the screen the whole day, do what your system says-clear entry and exit, reason you will over trade..psychological reaction by thinking you could have made money and you should have done this or that..forces you looking for a trade. and chances are not making money.So do what rams does go fish..
Yes CPS i agree we will break 28000,but think it will be in the high of 27000.I am not sure of todays break though but think we first going up and then down to the 27800.But we need to see.I was up 1100 points for today but now back to 870 for the day.So tell your chartist he must move his ass,he has got some catch up to do.Just joking.
I really don't understand why you guys use the S&P 500 as your leading indicator? It is 4am in the morning there? Maybe a couple of all nighters and some pimply insomniac traders. It is European markets where all the volume is at the moment. Overnight futures markets merely adapt to international action, in order to 'predict' what the real futures opening price will be (i.e. 2.30pm our time).