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I need clarification, are you saying you use this method and then hold the instrument for a year? If so I know you would watch the instrument run out of breath, then enter, this is things that I am trying to understand the logic behind to help me advance.
Thx for the reply
Can you help answer these questions from other members on NexusFi?
Just when you thought. Posting a chart of the market, SPY. I play the market day by day. But I would like to know how the indies and volume characterize the market on any day. The daily chart is OB. On the upside, volume is light, today on the downside volume is twice as much as yesterday. The MAs are converging, maybe that will be support. For the weekly, we do not have QE3, so the chart could have a different take then the prior two years. There is light volume that maybe leading to a diverging OB zone.
A look at the SPX on the SPY ETF. The price bars are powered by Chaikin's money flow formula. Blue, money flowing in and red, money flowing out.
The Day chart: We are OB, but OB begets OB. So the up trend continues until the stochastics breaks below 80. This chart has the 25, 50 and 200 SMAs. We need to get under the 25 after a break of the Stoch.
And the 30 minute chart supports the daily in this moment of time.
