|
PureBytes Links
Trading Reference Links
|
I have received a valid SELL signal on March 17th and a false BUY + another valid SELL
(straight after the false BUY) so far on the Nasdaq.
Triggered by a by me owned and publicaly published (here on the List) propriety-indicator :
the Coppock Curve. (So Steve K. and potential other 'hackers' be well upfront notified !).
That's a single trade : a SELL @ 4817 which is currently @ 3700, and straightout nosediving
to its first stop @ 2800, and a for the moment alone -shorting- profit of 1117 (U$) points.
No other trades were signaled. Only this common logical trade.
Did I miss out on something -back in my schooldays- mathematical wise ?
What the heck then is that crap written below ?
Are you + mr dinapples(is he a List-member too?) TRADE-junkies or something ?
The hooked-and-therefore-not-ever-to-be-stopped-on-trading-suicidals ?
What are you transponing the MSK List into ? A playhouse ? A fancy fair ? A Casino ?
I once joined the List for receiving SERIOUS info on Technical Analysis and MSK issues, eg
receiving for me unknown technical information, now to not only receive "self-aclaimed techniques"
on how junks methodoligy spil their dope...........but also to receive advertisement mails on
hola-hoop methodologies.
I don't need this list for any business practises, eg I have made my own fortune well enough from
serious analysis (has made me fortunate enough), neither for that reason too do I have to go
into a business practise or do I have to advertise myself here.
So if the quality of the mails received cannot live up to proper serious TA or MSK issues standards
soon, then I am left with seriously reconciddering............
The crap that flies around lately, is not only filling precious diskspace, but also a TRUE WASTE
OF MY TIME................and that of many others.
The latest very bearish patterns on the Nasdaq are the Rising Wedge, the large Diamond, the H+Ss
and the 50 % Fractal Retracement hit, with for now at the most a return to the 33.3% level, and where
patterns all are (but a return is not) RSI-confirmed.
Thus, for now and more likely, is a continuation down to first the 2800 stop(previous breakout support)
and later this year the lower breakout level 2100 for Target. See also my previous Nasdaq-mail.
Without a BUY signal, that's hell of a way down, but also very acceptable, eg and common sense and
well (the downtrade) worth it.
As for the fib+napoly, take your stuff and go back to the shit yards where it belongs.
Regards,
Ton Maas
ms-irb@xxxxxxxxxxxxxxxx
Dismiss the ".nospam" bit (including the dot) when replying.
Homepage http://home.planet.nl/~anthmaas
----- Original Message -----
From: "Neal Hughes"
To: <metastock@xxxxxxxxxxxxx>
Sent: woensdag 17 mei 2000 7:11
Subject: Re: Nasdaq charts/was Be Warned about Guru's
>
> Hello Metastock traders.. This is in response to some requests today for
> an explanation of DiNapoli trading techniques..
>
> -Neal.
>
> ----------------
>
> The following is intended as a demonstration of DiNapoli techniques.
> It is not intended as a market forecast or trade advisory. Although
> this example focuses in Fibonacci techniques for intraday scalpers, the
> same techniques are applicable for longer-term position trades. Scalping
> intraday trades is for the experienced only, it's one of the quickest
> ways to lose a lot of money, unless you know what you're doing!
>
> This information is extracted from client mentoring web pages and is
> distributed with
> the permission of Coast Investment Software Inc, for more details see their
> website at
> http://www.fibtrader.com
>
> QQQ Daily and Weekly studies dramatically effect the lives of intraday
> scalpers.
> The support and resistance levels that can be predicted from Daily and higher
> time-frames are often ignored by short-term traders (unfortunately). Price
> will be moving
> happily in one direction on a 5-minute chart, then will suddenly stop or
> bounce back, as
> though it's hit a wall. Look at the charts below, imagine you knew of these
> predicted support
> and resistance levels in advance. With the luxury of watching intraday
> ticks, you could
> be prepared to take action or stand aside at any of these levels, based on
> price action..
>
> Fibonacci techniques are a powerful tool. But as with all technical
> studies, they require
> knowledge and experience. These are not intended to be simple buy/sell
> signals. Whether you
> trade long or short at any Fib level, and how you vary the size of your
> trade, depends on other
> criteria, which we call "context". This demonstration focuses only on the
> Fibonacci aspect.
>
> This example uses 60-minute charts in order to show enough of the
> longer-term (daily) chart,
> and still show enough detail to demonstrate how short-term traders would
> use this information.
>
> Image 1 shows recent price action on QQQ. Imagine price action had stopped
> shortly after
> the low of $79.50 on May 10th. Using that low, and prior highs, we are able
> to calculate
> future Fib resistance. For each prior reaction, we calculate two resistance
> levels. These are
> shown on Image 1, there is a green & red pair of resistance points for each
> reaction.
>
> Image 2 shows the actual calculation.
>
> IMAGE 1.
> http://www.fibtrader.com/charts/qqq_1_nh.gif
>
> IMAGE 2.
> http://www.fibtrader.com/charts/qqq_2_nh.gif
>
> Notice how price action responded to the predicted resistance levels to the
> right of the
> Focus number. Some resistance levels are more significant than others. In
> this chart, price
> met with notable resistance at most of the Fib levels. For reasons beyond
> the scope of this
> example, the high on May 12 would be a predictable place to go short. Both
> our daily and weekly
> trend indicators were pointing down at that time. Similarly, the area of
> the high on May 16th is
> a good place to take profits, lighten up on long positions, but not
> necessarily a good place to
> go short.
>
> But we've gone ahead too far. Let's back up and look at Image 3. Imagine
> time had stopped just
> beyond the high on May 12th, marked as "Focus" on that chart. We can
> calculate two Fibonacci
> support levels into the future, marked on the chart with a red and green
> horizontal bar.
> Image 4 shows that actual calculation. As a 5-minute or intraday scalper,
> it would have been
> beneficial to know where those two support levels were, if you calculated
> them in advance..
>
> IMAGE 3.
> http://www.fibtrader.com/charts/qqq_3_nh.gif
>
> IMAGE 4.
> http://www.fibtrader.com/charts/qqq_4_nh.gif
>
> So far we have used the concept of Fibonacci Retracements, to calculate
> future support and
> resistance. Now let's look at the concept of Fibonacci Expansions. Imagine
> you had entered a
> long position somewhere near point C on May 15th.. (See image 5). Where
> would you take a profit?
> In the DiNapoli method of trading, we use the A, B, C, swing points (shown
> in Image 5) to calculate
> three "Logical Profit Objectives". The calculation is shown in Image 6. The
> profit objectives are
> called COP, OP, XOP, for "contracted profit objective", "profit objective",
> and "expanded profit
> objective".
>
> QQQ reached the COP very quickly, reached the XOP on the 16th of May. And
> it may still reach
> the XOP, though this is not guaranteed.
>
> IMAGE 5.
> http://www.fibtrader.com/charts/qqq_5_nh.gif
>
> IMAGE 6.
> http://www.fibtrader.com/charts/qqq_6_nh.gif
>
> Now here is the interesting part! Notice where the XOP is on Image 5,
> compare that to where the
> highest predicted (red) resistance area is on Image 1. They are close to
> each other. This is
> called "Agreement" in DiNapoli-Levels terminology. This is an area of more
> than usual resistance.
> This is the reason I said that we should consider taking profits at this
> time (for long trades).
>
> But it is not necessarily a good time to go short (yet). There could well
> be a short-term
> down-move from that level, but until the daily trend gets in sync with the
> weekly trend
> (ie when both are showing a downtrend), it's more dangerous to take a short
> position.
> Actually, for very short-term scalping, the daily trend tells us to go
> long, rather than
> short. We could wait for a retracement after the 16th, buy the next dip and
> sell a resulting
> rally. But that big weekly downtrend is overhead. Be careful!
>
> Take care,
> -Neal.
>
>
>
>
|
