Well here I am at my vacation home in Maine watching the markets go crazy. Yes, we are so lucky to have access to the Internet and to the markets themselves no matter where we are in the world.
I didn't plan on doing a video today, but the market action left me no choice. Today we witnessed an important "Trade Triangle" signal in this major index that should not be ignored.
In my new video, I share with you this same signal that thousands of MarketClub members witnessed and will discuss some of the potential downside targets for this index.
This is a video that is worth watching as I think we should all be prepared for what lies ahead.
There is no need to register for this video and of course you can watch it with my compliments. Enjoy the video and please give us your feedback on our blog.
All the best,
The FIB is a possibility. Doesn't mean it will get up or down to that level. It could go to 30%, 50%...
Trade triangle is lagging signal. When you receive the singal, the market already makes a big move. You could hardly enter at the signal price. Also when you wait for the sell signal to come, market flcutation might cause you to have a big loss, if you don't use stop-loss. If you do use stop-loss, you can kicked out more often.
Oil might break out and can also be toppy. The trend is up, up, and up but when it tops, the correction is huge.
Nothing in market is sure. To play futures and Forex market, have big pocke, at least $50k leisure money, to handle a string of losses until you catch a big trend to make all the losses back. Otherwise, $10, 20K is too easy to get emtionally destoryed.
I got an answer to a question i didnt ask. Do you mind looking over my question again and see if you have an answer?
Thanks
HG
Scott,
The short answer is you cannot place 2 Fibonacci retracements on one chart.
We are constantly updating the flash charting applet. I believe the FIB, Arcs and Fans are on the drawing board but I cannot say when they are going to make their debut in MarketClub.
Thanks for your comment.
Adam
Adam!! as allways very informative.
just one question, i am watching this video today, tuesday at 4:15 PM when you made this video, the FIB tool and the market were below the 23.6% so you explained that it broke thru the FIBnatchi that means that it might start to go downside. its now tus 4:15 pm the market in fact closed (1955.92)above the 23.6% of(1949.57)does that mean that your views changed? that we still have a chance going back up, since it didnt close below the 23.6% ? please explain if i am wrong and why.
Thanks in advance.
HG
Hi Adam...Hope you're having a nice vacation. I think I'm going to love MarketClub...still getting my feet wet. The cost seems a bargain, as it has allowed me to drop my charting service, which was costing me $130 a month.
My question is how do I place two Fibonacci studies onto one chart...??? I like to run a short term and a longer term target retracement projection with Fibs.
Do you ever plan to add Fibonacci projection tools...???(Arcs, Fans, etc.)...where you can project out into the previous trend.
I look forward to incorporating your "Trade Triangles" into my trading.
Thanks,
Scott
Herman,
Thanks for your feedback. The #1 master of all of this is the market itself. Technical analysis like fundamental analysis is an art and is not written in granite.
I will try and do a new video on the Fibonacci indicator and how you can best use this tool with the major trend indicators we have at MarketClub.
All the best,
Adam
It's a good video Adam, but I wondered if you could do something for us. You use the Fibonacci retracement technique quite a bit and sometimes these retracements happen over a relatively short period of time. We may be in that mode right now for the indices.
Could you show us in a video or two how we might use the weekly/daily triangles to our benefit for short-term trading of equities, indices and ETFs, and perhaps even tie this in with the Fibonacci approach.
Specifically, I would like to see how you employ the weekly triangle for trend and/or timing, and optionally the daily for timing only, irrespective of what the monthly is doing...for equities, indices and ETFs.
Many thanks in advance.
JLT,
I will see what I can do.
Thanks,
Adam
perhaps if market club spent less time on promotions and more time making sure your system works, i would have recieved the 17 sell triangles that were posted. but not sent to me on yesterdays big selloff.
Mike,
Try restarting your computer. The problem is on your end. The video is playing fine up here in Maine and elsewhere.
Good Luck,
Adam
adam: video stops at 2 min. 9 seconds and never reloads. I tried it for a second time and same thing occured. Can you send/post another version that runs all the way through. Thanks.
Mike