Educational Trend Analysis
@mmsoccer 
JETS and 
VDE have a high correlation, i would just pick one for a position
mmsoccer
but with flights picking up
wouldn't they go up?
and what about the triangle with a more bullish entry?
dilille010
@mmsoccer youre talking about fundamentals, i rarely use fundamentals to trade, im in
BLOK to have exposure to crypto, thats about as close to fundamental trading as i get
mmsoccer
okay
dilille010
JETS looks like its rollingover for a support check at 25.5
mmsoccer
jets is all airlines though, and vde is an energy etf?
dilille010
@mmsoccer wrote:
jets is all airlines though, and vde is an energy etf?
check a correlation calculator
hold on ill look im not doing anything
mmsoccer
correlation could be random?
dilille010
@mmsoccer its got a .77 correlation, for my trading diversification, i dont hold two postions with higher than .5 correlation on a rolling 5 year basis
mmsoccer
they do look correlated
but they are at a strong support
definitely different though
dilille010
if nopthign changes, trend says this will test 25.82 by April 23 @mmsoccer
its riding the high side of it, if you turn the trend horizontal in your head, is this a bullish buy right now?
no, its on the high side of its downtrend
thats trend trading
mmsoccer
your chart makes sense
dilille010
it could go bullisj quickly because it is riding the downtrend, but what if it keeps going down and you trade against thew trend
if you trade it now, its better to go with trend
then be ready to go bull when it makes a new uptrend
mmsoccer
holy caca
the 1h looks so different
one sec
dilille010
each trader chooses their timeframe, based on their risk appetite and trading profile
mmsoccer
i love the 1h as you can tell lol
dilille010
the 1 hour is mixed for me. its breaking both up and down trends and its in a downward consolidation, downward consolidations are usuaally bearish @mmsoccer
mmsoccer
dilille010
i dont use candles for trend trading anymore
mmsoccer
im looking more short term for the 1h, triangles imo can go either way
dilille010
candles are emotional for me and tell me nothign about trend, i rely on closing prices
mmsoccer
but going doesn't require margin or anything so that seem less risk
in forex i trade short and long, because currency values fluctuate normally
dilille010
@mmsoccer you are arguing a bull position for a stock in a bearish trend on 1 day and 1 hour, in a downward consolidation, in a stock that is making lower lows and lower highs, you see your argument
technical analysis says this is going lower
mmsoccer
on the 1h i see it as neutral
and the daily
dilille010
then make your bull position, just have stop losses built in or be ready to cost average down
mmsoccer
with confirmation it could go either way
dilille010
im giving you pearls and you are just saying, "but yeah, no, i think im right"
mmsoccer
ya thank you!
im gona go have confirmation code for the bullish entry
and code my takeprofit and stop loss
with my coding platform i cant short stocks
JETS and VDE have a high correlation, i would just pick one for a positionmmsoccer
but with flights picking up
wouldn't they go up?
and what about the triangle with a more bullish entry?
dilille010
@mmsoccer youre talking about fundamentals, i rarely use fundamentals to trade, im in
BLOK to have exposure to crypto, thats about as close to fundamental trading as i getmmsoccer
okay
dilille010
JETS looks like its rollingover for a support check at 25.5mmsoccer
jets is all airlines though, and vde is an energy etf?
dilille010
@mmsoccer wrote:
jets is all airlines though, and vde is an energy etf?
check a correlation calculator
hold on ill look im not doing anything
mmsoccer
correlation could be random?
dilille010
@mmsoccer its got a .77 correlation, for my trading diversification, i dont hold two postions with higher than .5 correlation on a rolling 5 year basis
mmsoccer
they do look correlated
but they are at a strong support
definitely different though
dilille010
if nopthign changes, trend says this will test 25.82 by April 23 @mmsoccer
its riding the high side of it, if you turn the trend horizontal in your head, is this a bullish buy right now?
no, its on the high side of its downtrend
thats trend trading
mmsoccer
your chart makes sense
dilille010
it could go bullisj quickly because it is riding the downtrend, but what if it keeps going down and you trade against thew trend
if you trade it now, its better to go with trend
then be ready to go bull when it makes a new uptrend
mmsoccer
holy caca
the 1h looks so different
one sec
dilille010
each trader chooses their timeframe, based on their risk appetite and trading profile
mmsoccer
i love the 1h as you can tell lol
dilille010
the 1 hour is mixed for me. its breaking both up and down trends and its in a downward consolidation, downward consolidations are usuaally bearish @mmsoccer
mmsoccer
dilille010
i dont use candles for trend trading anymore
mmsoccer
im looking more short term for the 1h, triangles imo can go either way
dilille010
candles are emotional for me and tell me nothign about trend, i rely on closing prices
mmsoccer
but going doesn't require margin or anything so that seem less risk
in forex i trade short and long, because currency values fluctuate normally
dilille010
@mmsoccer you are arguing a bull position for a stock in a bearish trend on 1 day and 1 hour, in a downward consolidation, in a stock that is making lower lows and lower highs, you see your argument
technical analysis says this is going lower
mmsoccer
on the 1h i see it as neutral
and the daily
dilille010
then make your bull position, just have stop losses built in or be ready to cost average down
mmsoccer
with confirmation it could go either way
dilille010
im giving you pearls and you are just saying, "but yeah, no, i think im right"
mmsoccer
ya thank you!
im gona go have confirmation code for the bullish entry
and code my takeprofit and stop loss
with my coding platform i cant short stocks
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.