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Post by theMist on Feb 7, 2017 13:18:24 GMT -5
VXX should start to rollover looking at indicators on 5 min, 15min
Plus VXX spiked like 3 times outside its upper BB on 5 min chart XXX should be headed back to its lower BB (currently 18.85)
VXX also spiked on 15 min chart outside its upper BB. Lower BB at 18.77 on 15 min chart.
Need them to break and roll lower already. Since the open -- they've been trending sideways to slightly UP
VXX 18.90, TVIX 5.14
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Post by walnut on Feb 7, 2017 13:22:01 GMT -5
Hit that upper Bollinger band on the 15 minute chart, if that means anything
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Post by theMist on Feb 7, 2017 13:24:54 GMT -5
Hit that upper Bollinger band on the 15 minute chart, if that means anything Spiked outside of its UPPER BB a few times (indicating overbought). VXX should head back down to test lower BB. IMO circle area showing quick spikes outside its upper BBs img upload
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Post by theMist on Feb 7, 2017 13:27:37 GMT -5
Come on my babies!! Gotta keep pounding!! lol
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Post by theMist on Feb 7, 2017 13:34:54 GMT -5
Are you watching VXX 15 min indicators? MACD and MACD Histogram?
Looks like they want to rollover. just needs more time. Doesn't it?
Now check the other timeframes --
5 min - MACD Histogram already bearish but MACD hasn't made bearish cross Hourly - MACD and MACD Histogram still bullish and needs to start to roll. But that's hourly chart 4 Hour -- also bullish indicators as well as Daily.
BTW - when even with bullish indicators and contango at 11%, VXX can still go lower. Looking at Daily chart - the past 5 days are testament to that
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Post by walnut on Feb 7, 2017 13:36:30 GMT -5
Yes the 15 minute macd is trying to roll over for sure. just needs more time, like always lately
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Post by theMist on Feb 7, 2017 13:44:56 GMT -5
Yes the 15 minute macd is trying to roll over for sure. just needs more time, like always lately We should get the move. But overall, the moves back and forth have been very small Not an ideal trading day for sure. Going forward, an even better and smarter trading approach is honestly to wait and trade on the best of trading days and not let schedule / availability dictate when you choose to trade. Obviously, tough when we have businesses and other commitments. For me, meaning available to trade every day and up very early in a.m. but only looking to trade on really good trading days. Ideally, shorting SCAMs when they are UP and refrain from chasing as much. But I have to say, that I've been able to squeeze out profits almost on a daily basis. I've been lucky. And at these levels, its like trying to squeeze a little more lemon juice out of lemon that has been run over by a car. lol
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Post by theMist on Feb 7, 2017 13:50:41 GMT -5
I am currently down and giving back 1k on my trade. lol Even on trade now VXX 18.90, TVIX 5.135 Gotta keep pounding! BTW - I don't see your usual cheerleading Walnut!! Trust me it helps!! lol
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Post by walnut on Feb 7, 2017 13:55:43 GMT -5
I'm still here waiting to make some money. Scams been more or less stuck in small range
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Post by theMist on Feb 7, 2017 13:55:55 GMT -5
S&P bounced off rising support and VXX turned lower S&P / VXX image host
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Post by theMist on Feb 7, 2017 13:58:38 GMT -5
Read through Bulkowski's website
thepatternsite.com
Start off with candlesticks Then go through all the chart patterns
Very informative and you'll learn a lot
And you can watch Jim's videos over at sp500chart.com
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Post by theMist on Feb 7, 2017 14:01:34 GMT -5
See how on VXX 5 min, price broke lower with red candle and then rose back up with the next candle to backtest??
and now VXX is continuing to drop lower with a red bearish engulfing candle.
If you weren't watching charts, you would have no clue why it made that small move back up to backtest.
VXX 18.84, TVIX 5.11
SCAMs should still head lower. IMO
But moves are so small
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Post by theMist on Feb 7, 2017 14:09:51 GMT -5
Don't count out 1 min timeframes Sometimes you see small patterns better on 1 min timeframe. Do sou see the break lower then backtest? upload gif from url
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Post by walnut on Feb 7, 2017 14:20:08 GMT -5
macd says it is rolling over now...
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Post by jacksrbtr on Feb 7, 2017 14:21:13 GMT -5
Don't count out 1 min timeframes Sometimes you see small patterns better on 1 min timeframe. Do sou see the break lower then backtest? upload gif from url"Don't count out 1 min timeframes" That's what she said:
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Post by theMist on Feb 7, 2017 14:24:39 GMT -5
macd says it is rolling over now... Indicators rolling over and pulling on price action but price action is still very resilient and still flat and slightly UP on the day. When price action goes against indicators its called divergence. Obviously, in the end, what's most important is PRICE action. Indicators are there to help you and give an indication of projected moves. Some indicators are trailing indicators and some leading indicators. Overall, this is a boring day and not ideal for trading BUT at least you can take the time out to work on TA skills- You will need them when things really start to shakeout. lol
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Post by theMist on Feb 7, 2017 14:27:53 GMT -5
Trump breaking news -- probably why SCAMs popped a little and with negative (bearish) divergence on 15min chart. lol
Mentioned Pharma stuff - Big Pharma. lol
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Post by theMist on Feb 7, 2017 14:33:24 GMT -5
Are you getting all this Walnut?! I know its a lot BUT I hope that at least I've helped you to understand Technical Analysis more.
BTW - there will be a test on Friday. lol
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Post by walnut on Feb 7, 2017 14:39:46 GMT -5
I'm going to study through it tonight again.
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Post by theMist on Feb 7, 2017 14:44:51 GMT -5
Are you watching VXX Hourly BBs?
Shows on S&P Hourly indicators as well.
BBs are squeezing on price action -- means within the next few hours a bigger move is coming
S&P Hourly MACD and MACD Histogram bearish.
VXX Hourly MACD and MACD Histogram bullish.
I'm not really concerned about it -- why?! Simply, because there's only one hour left in the trading day. lol
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