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Alsi triangle support trendline

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Super Contributor
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
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Ok, seems fair, my target is still way down,28000,27900,27550..bit of a longer term view.S&P i see 1290 +- my view will change as the market changes.She is always right in the end no
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Frequent Contributor
Steep bullish divergence between MA and indicators macd/stochi and momentum, on 5 min chart. Seems we had enough of shorts for now.
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Check inverse head and shoulders on alsi 1 min graph forming.Go long at break of neckline +-28150.
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1Min onderstebo H&S nearly nver work trust me I burnt myself plenty while I was a young lad
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Super Contributor
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..
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Frequent Contributor
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...
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Yes i check.Remember it is a very long wave 3 so a 61% retracement to close the gap is not impossible.
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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..
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Super Contributor
nothing has happened while out fishing but bears look tired.... short term trends have changed.... buy now with a low risk wide stop at low of day or wait for market open?
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I am going to wait for open.She wants to take back what she has given me this morning.
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Super Contributor
yes, I agree, best to wait....
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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.
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The market is way to happy it seems
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Super Contributor
just pulled back from the gap, stopped out of 50 point trail... but 5 and 10 min trend still intact
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Rams i dont think we going to see a gap close.The action on the sp500 and alsi is typical wave 4 with wave 5 down still to come.I am considering a short if action to the downside pick up.
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Super Contributor
yes, resistance at 28400 at 38.20 retrace of wave 3....anyway long closed out at 28400 but needs to bounce of 28430 and retrace to around 28000 to confirm wave 5...
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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).
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On which web site do you guys check this sp500 futures chart?
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Valued Contributor
agreed .. if there is any leading market it is FTSE100 15 minute ..
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