Pete, charts don’t lie. Did you get into HUBS? It made a nice little move up today…doc
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Mike,
Thanks for asking. Below is an example where the ticker doesn’t matter, but the clarity of the implied signals do. Let me grab some breakfast and then I’ll post a line by line “tutorial” on how to build the chart and how to use it.
Charlie
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I Bought a little SPXS today. Same basic chart, but someone will argue I bought it a few days late. How late is too late? Can you add if it is doing well? Yes, “you can do anything you want”, but what does the SS dogma say?
Doc, yes I bought yesterday one double signals: SS (Joan-of-Arc) and standard “power move above 50dma with huge volume that shows institutions are jumping in”. My expectation is the move will continue and NOT fall below the 50dma. If it showed weakness and did fall below 50dma, that would be an expectation breaker and the reason to sell.
The chart shows "1: where I bought. Joan-of-Arc says I should have waited for the green bar today. TSI-crossover says I should have bought the day before I did. So on average, I got it right! 
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Congrats on HUBS. The thing I notice about SQQQ is that the TSI has not crossed above, but on SPXS it did…doc
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SQQQ was sitting just waiting for someone to swing the bat. Now lets look at it.
Looks good to me.
Andy
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Oh baby, SQQQ looks good to me…doc
Thanks guys for the valuable learnings and sharing your chart settings, its really helpful for novices like us who are trying to learn. What are your thoughts on CRM?
Zs Looks like it is getting ready to go. I do not have a position and do not plan on taking one.
But be careful it jumped up and came back down and is toward the bottom of it’s range today so far at 9:12 AM PST
Andy
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I sold my SQQQ today 6/3/2024 at $9.84 I bought it on 5/29/24 at $9.64 so I made 2 percent on it. Here is what the chart says.
Now according to the chart I should hang onto it. But on Friday I felt the market turned more bullish and the price has come down. The High on Friday was $10.61. I could feel the market turning early on Friday but we had friends over so I couldn’t be watching. Anyway, If you look at my chart I shouldn’t sell, that is why none of this is mechanical. It is just a tool to help inform your opinions. Will the chart be correct or will I be correct? Only watching and time will tell.
Andy
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@Quillnpenn I am trying to think like a 10 year old and follow the smileys. I bought this today. The IGV represents the dreaded software group, but charts don’t lie, or do they? Was this a proper Simon Sez buy? Thanks for the teaching…
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It looks like ZS was a buy on the 2 month chart SS after 2 days…doc
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Your right Doc it did work out well. Here is the chart today.
So Although we had 2 small doji’s it did work out well.
Andy
Hey Andy,
Just as a rule of thumb, Doji’s are typically more meaningful when they occur after a significant trend ie at the top of an established uptrend. Indecision occurring after there has been a clear positive attitude or vice-versa.
More importantly, it looks like you are using Heikin Ashi candles, that pretty much sucks the value out of most candles. Especially trying to interpret the opening value, as it is calculated from the prior day’s candle Open/Close and is simply the average. However, larger moves such as the red and green candle right before and long-tails are more suggestive of the candle demonstrating buyers/sellers attitude. It is sometimes helpful to flip back to regular candles just to try and get a read on the market players attitudes.
Lakedog
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What if I go to 5 minutes with the Heiken Ashi candles? Would that be more informative?
Thanks Lakedog
Andy
Changing the period won’t change that HA candles are calculated. Therefore, they just can’t reflect the bull-bear fight and the price movement.
Look at the candles in the TOS Trend regular candles over HA candles that I posted. Same time frame as yours. Note, my positive “Green” candles are white (Open). The May 31st candle in your chart is a larger green candle (larger white in my HA lower study). Implies bulls came in and easily, consistently pushed up all day. The real candle is a black candle which means the open is the highest and the close is the lowest body value, but still higher than the prior close. This means the Bulls roared in with a huge gap up. Given the upper wick, they pushed it even a little higher, but then the Bears stormed in and drove the price down, down and down. They almost drove it to the prior days open, but then Bulls came back in and fought. They pushed the price significantly higher. Closed way up from the prior day in a fight that I read as a major switch in attitude. Granted, you get the same positive end with the green HA, but not the depth of the story. Besides…who doesn’t love a good story.
Note, the spinning top and Doji that follow on 6/3 and 6/4 in the trend candle chart are more important in that they reflect a balanced fight that did NOT break gap support, confirming that there is gap support and the only direction is more likely up.
I probably sound like I hate Heikin-Ashi Candles, but I love them. But I have grown to understand the limitations. That’s why I wrote the lower study script so I could look at HA candles at the same time as trend candles.
Happy hunting,
Lakedog
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I’ll second that. HA bars offer an unbeatable clarity if one wants to determine at a glance the prevailing trends. But that clarity comes at the cost of obscuring the interplay between buyers and sellers.
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