well i never... wednesday

Good morning all,

Firstly, a big thankyou to our cycle gurus with particular emphasis to WHYME2 and his scarey recent work...

And a big thanks to Treggs for his recent support with a particular pattern I've been trading...

Tip of the lid to Voltaire, Joalsa, The Prophet, Robbbbbb, Heremes, VirginiaK, Nine Lives and all other regs, and a shout out to Hedgie our missing nefarious nutter.

Secondly.. apologies for my attempts at predicting the night's action... I don't think ONE of my public postings (Particularly 3WCS stuff) has even come close... LOL

Thirdly...

Seemingly, I can't predict price well at all... but I am getting better at trading it and I want to share two trades that were kind to me last night. This is for education purposes only, specifically directed at WHYME2 to maybe help him with his potential trading...

Trade 1

Bearish Divergence on oil...This was mentioned in Monday's thread

This bearish divergence thing just seems to keep on working... (Means it'll probably break soon, particularly as I keep promoting it!)...

In the following chart... the important points are:

Price is drifting up while the combined MAVs in the MACD are drifting down.

Three distinct peaks formed in price.

MACD histogram shows lower peaks...

It would appear the last peak is the one to short... breaking of the 20 period exponential MAV was a good trigger.



Trade 2

Triangle trade...

This I think is a representation of a pattern also called the Gartley, the butterfly, and a W bottom.

This one was on the SPX500 and I have shown this on the one minute chart.

Basically the setup for this is:

Price drop from A then forms a triangle... Price goes above peak of triangle at T, making a good place to start a trailing stop... Price then retraces at least back to the original point A...

The circled "hump" in the MACD MAVs helps with this trade...

The little peak in the box is something I have noticed that seems to emphasise price is going to rise for a while...



That's it folks... hope these detailed trade-setups are of some amusement...

Cheers and Beers and off to work...

;)