the right lens

nifty talk

4 sep

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"this is all based on 1 month chart

since i trade only positional (and not intera-day) only 1 month chart gives me the indication for that period

it is like using the right lens with the right focal length for the right distance.

and i use only google chart. all other charts of software or sites use different least counts. since i have been using google finance charts since many years, they talk to me and i hear them well, quite well. 

on 1 month chart, there is only a subtle hint of "end of the run". rsi generally throws a big indication for the turning of the market.

chances of the market turning down from here (going purely and only by rsi and not taking any other mandatory cross reference) are only 20%. from my experience, such subtle hint has fructified in actual turning only in 1 out of 5 times, or even lesser.

it is here, cross reference check from other indicators comes to our rescue.

william % r is clearly clearly clearly hinting that this rsi turning is NOT out of those 4/5 times i mentioned above.

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further, w/r pattern is clearly clearly clearly hinting that it will take 1-2 days more for the pause to unpause.

couple this with the operator mindset and the nasty unholy habit of eating premiums and dodging the majority, u come to the conclusion that i shared.