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Looking at the S&P, we are at the right shoulder of a Inverse Head and Shoulder Pattern that has bullish momentum building since March 23rd. Also the last leg down from Friday already had its leg start support lost tested once. Hmm I wonder what will happen next....
Can you help answer these questions from other members on NexusFi?
allinthecharts.com is just a re-write of KT in my own words, that I put together 6 months after finding the original blog. The original blog can be a little hard to decipher, so it was just my attempt at better trying to understand it... Literally the only reason I created it was in the hope it might get some attention from people who trade it every day and would be willing to share their knowledge - as it turned out that is (indirectly) what happened around six weeks later and I am glad I did it for that reason alone. The domain runs out next week, so it will cease to exist at that point...
I made it private as I felt it was in my best interests, I kept getting either abuse from maroons or questions from people who genuinely wanted to learn. I ignored the former and didn't feel I had the right to answer questions from the latter about KT, as all the question were about KewlTech - KT has nothing to do with me, I just learned from it, and thus I have zero right to claim otherwise... Indeed, as I made abundantly clear on the blog, I learned from KT and that blog is a huge inspiration in the way I trade. Do I trade the KT way? I have no idea, and neither do I give a damn to be honest....
Getting to the reason I felt the need to reply - I have never made a penny from that blog and nor would I dream of selling access to a re-write of KT lol. I am strongly of the belief that the original KT blog did it right - no cash exchanged, just concepts.
There's no point, I wrote the majority of it last summer before I got a proper grasp of the concepts. Just read the old blog from the various web archives that are available, or use the PDF that someone linked in a prior post.
The kewltech guy talks about the move off a reaction from the news as being setup prior, which i completely subscribe to, but what causes the actual reaction when the news comes out for example the minute non farm comes out the market will explode into action why does the market wait until the publication if it's already setup prior?
Same thing on the U.K. index, clear head and shoulders (distribution) pattern. However, Draghi extended QE by 3 months and a weaker Euro incoming due to no rate hike.
I didn’t know this style had a name? This is actually fundamental in how I have been trading since becoming profitable years ago. I watch multiple timeframes as well as fibonaccis and support/resistance. But for example - this is the first chart I look at of the /ES in the morning.