Trading the XJO with CFDs

[Joules MM1]

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

ASX:XJO Chart Image by traderjazzhands

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[BigFaceBollinger]

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.

 

[Roller_1]

Psychology needs work.

Ahh yes +1 over here

 

[Joules MM1]

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)

ASX:XJO Chart Image by traderjazzhands

www.tradingview.com

welcome to Scomo's byebye water slide

 

[Modest]

We were about five days too early with our market crashing bear memes Jules

 

[BigFaceBollinger]

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.

 

[BigFaceBollinger]

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]

SP:SPX Chart Image by traderjazzhands

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take a gander at the above chart for $spx, then consider the up:down volume for both Aug 2019 v Nov 2021

 

[Joules MM1]

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

 

[Joules MM1]

forced to take some insurance BTO's $xjo at the open, close the lower sells

gorilla having a bouncy nap ?

 

[Joules MM1]

..and we're back on the sell

 

[Joules MM1]

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?

 

[KevinBB]

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

 

[Joules MM1]

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]

 

[Joules MM1]

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

 

[Modest]

7025... Hurry up and get on with it ASX

 

[Joules MM1]

$xjo 7200 Feb 2020 roof already tested, not gunna be the floor this time around

7025 ?...you short term swing trader you .....could we have thick vpoc zone 6700 ish, please

 

[Joules MM1]

and we are back with the offer

 

[Joules MM1]

ha, weekend studies
if the $spx is the gorilla might pay to check on its health
this is the $spx versus the $sml
the S&P600 small caps is the reflex health, when it drifts away the speccie end has decided it doesnt like price discovery
the major indexes meanwhile keep trudging higher and the key about that is mostly in the idea that
the breadth failing in the major indexes while the daily bars for the small indexes has clearly begun a series of lower lows
while the majors are still making a series of higher highs (regardless of the construction being in impulse mode (still) or distribution climb)
with the key component being the ETF which displays money managers and late retail investment money flowing with enthusiasm

from a larger, let's say weekly point of view, we need a commensurate retracement of the whole upleg from
March 2020, in percentage terms that would make 4100 a strong level, the probablities look good for genuine fear at 3850 at level
which would be a decent level to consider re-engaging into a stock basket

i am selling index tops and several commods, buy-side liquidity is clearly struggling

SP:SPX Chart Image by JoulesMM1

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