P.S. moves almost never happen in a straight line so I do expect some sideways and short chart pull backs along the way :-) A 300 point move down on the INDU would be a small red candle on the weekly n relative terms. The two things I am really watching are how the weekly and daily chart indicators appear at the end of this week in relation to the bands once the election results are completelyby NCTrader - Trading Discussion
I am modifying my assessment a bit. The strong two week bounce late October on the weekly charts changed the complexity of their respective monthly charts a bit which I was monitoring. The monthly charts are still indicating OB with a decline coming but the positions of the indicators changed enough over the last two weeks of Oct to suggest that it might not be immediate. Weekly charts showing Sby NCTrader - Trading Discussion
I do a lot of my market review on the weekends and will be happy to share my thoughts. I am a bit cautious about stepping out there full throttle thinking that FWTZ and seasonality will carry us through the next few months. Still believe at some point bearish divergence will se up and the bears step up. One thing I have learned is that anything is possible. Still managing a few long positionsby NCTrader - Trading Discussion
I have a question as I like to follow you through this journey. I understand the part about trying to dial in the correct time needed in your option so that you give yourself an opportunity to be profitable. Do you have a standard thought process regarding ITM, deep ITM, ATM, or OTM options. If you are looking at ITM or OTM do you normally look for 1 strike, 2 strikes, etc.?by NCTrader - Trading Discussion
Congratulations Rookie! I did not buy the options as my criteria for a trade were not met but I did purchase AAPL in my IRA just below 102 following earnings. I cannot provide an ABC123 technical reason for entering other than I have been following AAPL for 9 years and noted some favorable things I liked on the D/W/M. Hope you guys enjoy your dinner. NCTby NCTrader - Trading Discussion
I think now that the bulls were finally able to decisively take out the 50s on all major indices then previous highs are within their crosshairs. Daily MACDs have been looking good for some time with 233's expanding and heading into first of the month cash inflows (a.k.a, S6). We still have the FOMC and upcoming midterm elections but the message from the bulls today was "we don't care"by NCTrader - Trading Discussion
As for "E" chart, no, this is not taught by GW. The three moving average crossover is something Darcy introduced to the forum as she found it very useful in her own trading. Several former GW students have adopted the E as either an entry trigger or used for confirmation. Due to the lag time for a 5 to cross a 10 that crosses a 20 you might have to drop down a few charts to use it asby NCTrader - Trading Discussion
Welcome CLT1987! Yes, Survivor III in my opinion starts to prepare you for RTP with respect to mindset. I re-read my notes last week and one of the first things mentioned is that SIII will be the least amount of information provided. That doesn't mean that you are not going to receive a lot of good information or that you will not be taking a lot of notes. It simply means that you are startby NCTrader - Trading Discussion
Yeah, I think we are getting ready to find out if this is just a bounce off the weekly BBB or something that has legs. Played out like clock work hitting and pausing around 16600 then 16700 and now in the 16800 area as expected. Nothing to really to show a turn yet but still keeping an eye on ES for clues. What's intriguing is a current test of the weekly middle BB, daily 50MA, & 233 200MAby NCTrader - Trading Discussion
funkho, I am enjoying reading your posts just to see how things work out for you. I might be able to provide a little color on the AAPL play. I traded AAPL for earnings last quarter using TT techniques. Earnings is their favorite time to trade due to volatility crush which is what you were looking for (price deflation following earnings). You might see a bit of deflation on the back monthsby NCTrader - Trading Discussion
Currently keeping an eye on the 16600 and 16700 levels to see how we react if we get there. 16600 = roughly 50% retracement of last leg down which also happens to overlay nicely with the 200MA. Slight break of that would put next short term resistance around 16700 to the declining middle BB. With enough good earnings and a seasonality tailwind then major resistance 16800/16900 is possible. Aby NCTrader - Trading Discussion
Saul, I am not the best person to respond as I know just enough ThinkScript to modify something someone else built for my own purposes. My main focus in TradeStation and improving my understanding of Easy Language. That said there is a question that you need to think about when you say "50 ma must be angling up or moving up". Is that truly the only requirement? See below. All fby NCTrader - Trading Discussion
Yes, TOS has nice crosshairs and is a great platform. The charting can be great if you take the time to learn the nuances. You an also find excellent support in this forum. Researching, entering, and managing a trade makes TS seem ancient (clunky is the word I think I used in previous posts and seems to fit well). You can do everything in TS but it simply does not flow nearly as well as TOS.by NCTrader - Trading Discussion
I think buying is a personal choice and buying/holding through FWTZ even more so. If you feel the overall market move down is over for now and you would be willing to put all of your W/O into the trade then that is your choice. I am not going to give advice either way. In general I like the setup end of day 10/15 more than I did on 10/3 even though the Daily MACD is not given the signal of strby NCTrader - Trading Discussion
Ok, long winded last time but started typing and couldn't stop. My apologies. Sonic, you asked about the VIX. Yes, what you see on the Daily is a god indication that VIX will pull back - probably tomorrow but in very near future. I really prefer the formation on the 233. Not perfect textbook example but good reversal signals setting up on both (again, I prefer 233 but that is trader's preferby NCTrader - Trading Discussion
Unfortunately that is about all I know regarding the crosshairs. I never used crosshairs as a standard setting so it never really bothered me. The fact that I can get them to appear at will by holding down the mouse works for me . Sorry... Still trying to get use to pointer tracking. I love the concept but wish the charts would align on the hard right edge instead of hard left edge. I underby NCTrader - Trading Discussion
I am not currently logged into my charting platform and will not look again until tonight. I also will not give specific advise. In a general sense this is typically not a good time to be entering put positions given the recent sharp move down. You would be chasing the market. If you are in puts and the charts tell you to stay in great. Just not a good time to enter new positions. A tradablby NCTrader - Trading Discussion
For clarification if I try to get too precise then I start expecting the market to listen to my expectation and miss when the market decides to change. I make general observations and note areas of support and resistance for personal directional assumptions without getting too caught up in the actual number. It keeps me out of trouble. My comment was in no means intended to be a slam on Darcyby NCTrader - Trading Discussion
I try to stay away from being precise and getting caught up in my own predictions but 15555 is a good area. My two second read on the weekly said 15600 to 15700 but I did not measure - just estimating. Somewhere in the area of 15600 to 15700 or slightly lower is certainly reasonable but not necessarily in a straight line.by NCTrader - Trading Discussion
Only help I can provide is to hold down your mouse button while you are moving across the chart. This will provide standard crosshairs and data tips window as long as you hold the mouse button down. To my knowledge TS does not have a way to keep the crosshairs active - mouse button must be pressed. All of that said be advised that several individuals are upset about he recent 9.5 changes. Depby NCTrader - Trading Discussion
As an aside and just to clarify the 45 degree angle comment was not meant to imply that I pull out drafting tools and measure the angle. I was attempting to describe what I look for visually and I actually have those words ">=45 degree angle" written in my rules as a reminder of the types of things I am looking for. There is a trading methodology built around actually measuring theby NCTrader - Trading Discussion
No, not currently in RKT but I am watching it for educational experience. I cannot justify my reason for staying out based on the W/O rules. The technical components are all there and hope it works out for you. My justification for staying out is that I was too much on the fence. Anytime I get like that I am better off trusting my instinct and staying out if I am not truly committed. The thrby NCTrader - Trading Discussion
Thanks for the feedback. I have a pretty good understanding of a squeeze. Prior to talking RTP for the first time I traded nothing but breakouts. What I am talking about is what comes after the squeeze. High volatility begets low and low volatility begets high. A squeeze is a signal of low volatility so yes, a pop is coming. Paying attention to the larger charts can help with ascertaining mby NCTrader - Trading Discussion
Darcy, Good info! I am not sure where you read it but I know that John Bollinger teaches exactly what you describe as part of his Bollinger Band breakout strategy. The top curving up is great and first sign but he pays particularlar attention to the lower band curving down at the same time. Price typically will walk the bands. When the lower flattens and/or curves up the initial momentum movby NCTrader - Trading Discussion
Great idea but concur with fireman. The weekly does not appear to be done going down quite yet. If I were going to consider I would have been looking at a possible 233 or 144 with Daily supporting. For the record I would not be in this trade due to potential profit opportunity, the weekly, and possible market turn. Entry around 76.76 at the close on 9/29 with heavy resistance around 78 / 79by NCTrader - Trading Discussion
I like the Kirk Report. It is the only subscription I continue to receive as the low cost for me is well with it. He uses a lot of price patterns, measured moves, and overall market awareness. He used to provide the "Three to Read" each morning similar to that provided by funkho. Whatever he felt would be helpful for newbies or that veterans needed to hear again. A lot of what he provby NCTrader - Trading Discussion
Yep, I think that is pretty cool to have an app that reads a book to you. Thanks RR!by NCTrader - Trading Discussion
My process is very similar to fireman. My 100+ list is narrowed down significantly for the week as noted in another thread. My focus during the week are those that I think have big chart moves that are coming to an end, indicators that appear to be in a good position to give me FP/HRFP in upcoming week, and possibly chart patterns I like to see (double bottom, divergence, HS, etc.). Also lookiby NCTrader - Trading Discussion
I am also curious about ITM, OTM, or ATM. Do not remember the exact percentages but from what I have read an OTM strike within 1 standard deviation and 30+ days of time has a high probability of being tested or touched. Just curious as I continue to test selling premium. Your results seem to support what I have read. The key with selling is using less time so that time decay offsets the probabiliby NCTrader - Trading Discussion
LOL.. it appears Robert was posting while I was typing. Thanks Robert!by NCTrader - Trading Discussion