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Trading the XJO with CFDs

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still a lot of upside price length to the channel roof

cfd's all clients regularly running around 20-30% sell to open positions, assuming that's not the same meat each week

insert Larsen man giggle
latte jed.jpg
 
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triangles are coils so this should resolve to the upside, recently price has come back to the previous highs (range) then lifted
as price is now butted up against the larger weekly channel, observing and respecting the levels here determines likely retracement
for the next few weeks to months 7440 needs to hold today

weekly channel : https://www.tradingview.com/x/OUkZZU2n/
 
LSF green today, let's see if theyre proving theyre promise instead of whipping around with an index
"L1 Long Short Fund Limited (LSF) provides investors access to an absolute return fund that offers a diversified portfolio of long and short positions based on a fundamental bottom-up research process. The Company's Portfolio will be constructed in accordance with the Manager's investment approach. The Company's Investment Process combines valuation with qualitative considerations to identify investment opportunities." (Commsec)
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Joules MM1 said:
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triangles are coils so this should resolve to the upside, recently price has come back to the previous highs (range) then lifted
as price is now butted up against the larger weekly channel, observing and respecting the levels here determines likely retracement
for the next few weeks to months 7440 needs to hold today

weekly channel : https://www.tradingview.com/x/OUkZZU2n/
Click to expand...
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"top clients" printing 85% long with 94% of the capital buy to open
plus the "all clients" are 75% and 85%

everyones counter intuitive ....sipping tea with a slice of lemming
 
the downward channel looks confirmed (see above) , at least the breakout of the upwards larger channel is confirmed
...with the offer
xjo tricky tricky its tricky 140921.png

xjo 3 and 6 day session bar 140921.png
 
looking for $xjo cash to sell for the rest of todays session (high 7487)
price ran into the high of my operating breakdown channel
any move in cash hours above the channel would completely rotate the structure with a new leg up
the index may need a few days/weeks to find where value is attractive
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$BBUS $BEAR both slow to get going, monday should see a kick with them, theyre a small surrogate, worth tracking
with these instruments i find the entry and exits are best as lags, in other words, when a crowd is chasing an idea/sentiment
they likely have the most activity after a turn (or significant rotation) has already printed in the underlying instrument, so if i see
the xjo make a turns - a resumption to major bull trend - we should expect to see these laggards to have the opposite reaction on the next
kick against that resumption as the crowd thinks/feels theyre now getting more of the same, in reality theyre being trapped in a position
that is contrary to whats actually printing

4pm thru 4.10pm friday
asx cash closed (xjo) at 7403, yet in the SPA the cfd was already printing 10 points adrift, a good signal that
players were already leaning on bids
this morning
the cmc cfd close at 7329,
rarely leave positions open on xjo over weekend, when i shut my platform the construct was clean so left the lots open
the index would have to pop 60 points to take me out, scaling suits this, this is also based on the prior posts on the construct
and channeling, this week we should see some red days, all in the task of the bull phase we're going thru
i have set any targets as we do not yet have enough construct to work with, point to point are useless targets without a construct of reference to provide levels of context

xjo post cash selling 180921.png


went out on a limb calling for a truncation at the recent pullback high (zone) for xjo, just a question,
it still looks valid, am assigning the validation now based on the lack of impulse since and the clean sell signals printed so far
which lends itself to the idea we have several days n weeks of this chop south
the small operating channel (blue) looks validated too now
likely targets (yellow) i dont place a lot of merit in, theyre part of the ratio reaches common but i think we have different
ballgame at hand, not a significant rotation, more an arduous series of non-events before the uptrend resumes
and the larger channel is not that far away, that itself is a probable cause for action from larger technical players

coffee !
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as a reference point this is the $spx
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I've gotten out of this one at 7268. My TP was a bit ambitious at 7280 on second glance.
 
I got the reversal as well and also sold 7266. Looks like there's more to go in this rally. Hope it's not a dead cat rally.
 

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