Setting Up For A Bounce Next Week
First post, for fun, obviously no idea what I'm doing.
Depending on what happens tomorrow it's setting up for at least a bounce next week.
Bottom graph has a line that suggests oversold. In my mind it is set up if the line remains below the dotted line tomorrow (Friday). If it goes up above then maybe toss the idea, it happened late June where it gapped up over that weekend.
Maybe down early in the first part of the day, then reverse up and hard for the next few days? Bonus points if it just falls through the lower Bollinger, at which point I'll probably enter
From the low of Friday Sep 30 -
Let's Say
5% chance of ~+10% by Oct 7 (top yellow circle)
40% chance of +5.5% by Oct 7 (lower yellow circle)
60% chance of +5.5% by Oct 14 (right yellow circle)
Green eclipse is things going according to the idea, above is a bonus, below is a fail.
You might be asking 40%? 60%? so you're flipping a coin? could go up, could go down? Well it's 40-60% chance of +5.5%, nothing is guaranteed and that's why you have responsible stops in place.
Depending on what happens tomorrow it's setting up for at least a bounce next week.
Bottom graph has a line that suggests oversold. In my mind it is set up if the line remains below the dotted line tomorrow (Friday). If it goes up above then maybe toss the idea, it happened late June where it gapped up over that weekend.
Maybe down early in the first part of the day, then reverse up and hard for the next few days? Bonus points if it just falls through the lower Bollinger, at which point I'll probably enter
From the low of Friday Sep 30 -
Let's Say
5% chance of ~+10% by Oct 7 (top yellow circle)
40% chance of +5.5% by Oct 7 (lower yellow circle)
60% chance of +5.5% by Oct 14 (right yellow circle)
Green eclipse is things going according to the idea, above is a bonus, below is a fail.
You might be asking 40%? 60%? so you're flipping a coin? could go up, could go down? Well it's 40-60% chance of +5.5%, nothing is guaranteed and that's why you have responsible stops in place.
Order cancelled:
So the bottom indicator did not remain below the dotted line, but still remains low.
Wait and see what happens next, sometimes it just rockets up anyway like from Jun 17-24 tempting me to bend some rules for this indicator, and sometimes it dips back down and does the thing in a week or two.
Wait and see now, did not enter into anything.
Wait and see what happens next, sometimes it just rockets up anyway like from Jun 17-24 tempting me to bend some rules for this indicator, and sometimes it dips back down and does the thing in a week or two.
Wait and see now, did not enter into anything.
Oh well, maybe next time.