set u r mac settings to 5 and 34 on a histogram setting.
learn to trade only 3 rd waves and u can trade 5th waves but really all you want to do is be patient and trade 3 rd waves
in short term cycles that is where all the money is made. because those are u r heavy accumulation or distribution phases.
u'll be less likely to lose much if any money and you'll trade less but get greater reward most times.
NEVER SAY GAPPER DIDN'T TOSS YA'LL A BONE.
FAS is presently in a short term 3rd wave down which should end soon. the 4th wave back up when it starts isn't expected to be much back up then you still have to deal with the 5th wave down short term. after that all your gonna get is an abc corrective wave back up which should be tradeable BUT after that is when things will likely get very hairy for fas and the financials in general.
anyway if your relatively new to this stuff just trade 3rd waves for now. practice watching the 5 34 mac histogram for your signals then you will not have to count waves at all you'll just know.
for instance sept fas was in a 3rd wave up from 65.25 to 91.34 I TRADED THAT WAVE with ya.
then fas went into a 5th wave up from sept 5th to the high at 94.54 I TRADED part of that wave up with ya but not the whole thing because i'm shy on 5th waves mostly.
now we are in the 3rd wave down of expected 5 wave structure AND I'M short fas. this 5 waves is all EXPECTED TO FORM THE A leg of expected abc correction as you can tell this is a deep deep down leg to find A as it's just about taken out the wave 3 low AND THATS not good for financials or faz NEAR TERM or longer term. WE CAN NOW longer term measure fas to 41.59 when this is all said and done with it in a few weeks. AND THATS likely not the end of it but fas may get a decent bounce back up in that area IF THE MARKET can fight off the P3 implications in the indexes AS i believe the market will ONCE WE BOTTOM this time around.
Spaded. good answer. Except u can't flip a coin on just any security and follow the coin toss! The charts for me are general indicators. I enjoy all the info I can get and "take what I want and leave the rest". I have been known to gut trade as well as try to find a good entry trade and any number of methods. My favorite was the hey let's try this one trade. Had I had any idea of how the market worked on my first two trades I would have made a fortune. So all the info is helpful Just don't get bogged down into thinking there is an answer out there. There are only tools..
listen to this mans report
35 year history he's incredible
and now his work is starting to pick up on my signals.
and now he's forecasting the depression he's still out into august with this
buttttttttttttt JUST LISTEN and digest.
vix hit it's technical measure friday IF IT EXTENDS without correcting monday EXPECT a near term bottom soon
not expecting a lasting bottom but one that may be tradeable as some shorts take gains.
we are into the 165th daily bar on the dollar SO it is expected to rally some in this range. i'd expect it to measure to 80 near term THEN c what the pull back looks like IF ANY
short term thats likely to put the pressure on commodity plays that are full of momo traders.
called the top last WEEK near term for oih last week on this board because of the chart formations.
WHY some people would tell us not to chart and play the probablilities is mind boggling SINCE that is how the memember firms run their book.
suggested that everyone watch the transports couple of weeks ago as well.
we little people only have to do what the big people are doing and then we are okay. if we do what we want to happen rather than what they are doing often we can't be okay.
many shorts were ruined over last 9 months even some of the biggest houses in the game though they'll never admit it.
NOW charts suggest everyone that wanted in is in already. now we have to wait to find out the level where others may want in.
that level will come some time or another. but we don't know it just yet
now i'm off to listen and study some other technicians take on market. and c if it matches mine yet or not.
i always pay attention to better chartists then me. i follow the charts of other traders with 25 to 40 years in the game. while i do my own work i check what they have to re check my work to find out if i missed something if we have differ of opinion. in the end i rely on my own work though.
Hi Gap, I have a question you may be able to help me with.
I'm not sure how to set up my chart settings for the histogram you are talking about. Here are the choices I can change...
First base average: do I want it set to EMA, WMA or SMA?
Period of first average: should that be 5?
Second base average: again do I want it set to EMA, WMA, or SMA?
Period of second average? should this be 34?
Period of Signal average: should this be 34 again?
I'm still not great with charts yet. Or even good with charts. Thanks for any help.
SIMPLE moving average.
i'll do one on stock charts so you can c it. however if someone doesn't have stock chart they'll not be able to read my short term chart.
but the daily chart will show the piture as well but one would have to really focus to pick the waves in the longer term chart. i'll link both though.
LOOKING at daily chart notice in july the histogram went negative on the correction. that was the B leg pull back. after that notice how the histogram stayed big positive. THAT was all of the 3 RD wave up IN THE major C wave up.
NOTICE the historgam dip NEAR OCT start? that was the 4th wave INSIDE of the c wave it never went negative but it came back close to zero line. THEN NOTICE while fas set higher high the histogram had a neagtive divergence. NOW the histogram has gone negative and it's down big BECAUSE we are now in the process of working on the abc corrective wave down.
for those with shorter term chart ability with stock charts the following will be able to show u where we are in the short term counts.
no i don't promote stock charts and i don't trade with stock charts i just use it to share charts with family and friends. but i do admit i could trade with it because of my style of trading.
BUMP the post in this thread is about the most important post you'll ever get out of me
or anyone else.
this post explains why kens numbers work
NOW brighten up LEARN to do this on your own and make piles of money.