Australian (ASX) Stock Market Forum

Trading the XJO with CFDs

Joules MM1

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we have a new operating channel now the prior leg up has incisively snapped

xjo it was already in the construction 261121.png
 
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Quite a struggle this week. Internet connection problems, a missed day due to health issues, spent about 80% of the week one step behind the prices. I got long on the most bearish day of the month. Managed the position perfectly and got out without any real pain. My methods are valid although I need to be more active. Psychology needs work.
 

Joules MM1

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3% pull is normal in a healthy bull

$BEAR $BBUS reflect insurance taken for players who missed writing/taking put options (or the slow burn top burned them out)


welcome to Scomo's byebye water slide
 
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I'm assuming the major move on Friday is (short-term) a touch overdone. The overnight session closed 100 points below the day session close. It's highly likely the open either gaps up 50 or so points and/or very quickly moves up. After that we need to see how the rest of the week plays out.
 

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I'm assuming the major move on Friday is (short-term) a touch overdone. The overnight session closed 100 points below the day session close. It's highly likely the open either gaps up 50 or so points and/or very quickly moves up. After that we need to see how the rest of the week plays out.
Today was good.
 

Joules MM1

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or looking at this in a wider view for a relative exercise
4 month prior the divergences were signalling well into the recent high in both buy and sellside volume
...both sides of liquidity diverge against the print, as s healthy, but, into the recent high the buyside disappeared,
it simply lost momentum, the endogenous fear was already firmly established, price must follow the health of market psychology
keep in mind that "oversold" does not [immediately] mean [buy] bargains

spx tick 4 month divergence 291121.png
 

Joules MM1

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so if we just went thru a fake sell for the (up)trend to take a breather (let's say hourly basis)
and just get to a value zone for buyers to re-enter..
should pros be buying the close or selling the close today?
 

Joules MM1

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There isn't a lot of confidence in the AU market at the moment. I don't like to see these late afternoon sell-downs.
KH

reply to my earlier question:
cash enters SPA at 7290's immediately front month goes aggressive distribution, SPA closes 7256 - asked and answered

yes, Kevin ..for long-only holders the current reset is likely a several weeks to go before we get a resumption of the major uptrend
 

Joules MM1

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the mini rips in $xjo today are not fakes but theyre hooks,
levels are levels, take them with a plan and size correctly,
if youre trying to pick a low, when price jabs up, you'll get run over,
diff market now,
#thoushaltnotkidthyself
 
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