BEL - Spike calls a bottom.

[mimo_100]

I shall remind all readers of this thread that if you want the fastest update on any blog entries I make for BEL, you want to be accessing http://spike-on-bel.blogspot.com/ first.

I will be keeping this thread updated for the journey for BEL, but there may be a delay getting it done due to time contraints.

Best to all. And remember, make those r/r setups pretty and stay focussed on discipline and trading the plan!

Spike,

I cannot see the chart and the link you gave.

Tim

[Lyehopper]

Spike,

I cannot see the chart and the link you gave.

Tim

It ain't showin' up for me either dude.

[Karel]

Just scroll down a bit, guys.

Regards,

Karel

[gerihearne]

props to Karel

Well, I don't know how many people are smart enough to spot a 50% retracement, but I am not. I sold some BEL at 4.80 and the proceeds are now reinvested at 3.80. We'll see what happens.

Regards,

Karel

Karel, way to go, dude! I love bel .. got in high near 5.00 ... so i'll have to keep it long (some day i'll make a beautiful trade like that .. and this thread will HEAR about it ... lol )

Congrats, Karel ... pure beauty!
Regards,
Geri

[spikefader]

Just find this tonight and thought I'd post the review. The power of a triangle...

Post 9 of this thread relates

BEFORE



AFTER


Nice $18 move for an index is impressive....

[spikefader]

This was another from back there and shows the power of channel longs for companys who 'discovered' BEL too



http://www.mrmarketishuge.com/showpost.php?p=33553&postcount=14 relates

[DSteckler]

<< Well, I don't know how many people are smart enough to spot a 50% retracement, but I am not. >>

"Smarts" are not required to spot the retracement. Subtract the significant low from the significant high and divide by two. Now, subtract that from the signficant high and congratulations! you have a 50% retracement price.

[mimo_100]

Just scroll down a bit, guys.

Regards,

Karel

I scroll down and all I see is a cat peaking over a well-worn piece of 4 X 4 timber. I can see the chart in

BEL 1% long setup presents today with R/R of 380! lol

however. So my explorer settings are not the problem.

[Karel]

<< Well, I don't know how many people are smart enough to spot a 50% retracement, but I am not. >>

"Smarts" are not required to spot the retracement. Subtract the significant low from the significant high and divide by two. Now, subtract that from the signficant high and congratulations! you have a 50% retracement price.

Of course, and now how to decide on the significant high and low. Just kidding, Dave. But I am not sure about the status of a fibonacci retracement. It sounds to me like: if anything is going to happen (support/resistance), this might be one of the places where it is going to happen. A 'normal' support/resistance level is more like: here is where things happened before. That is perhaps a bit more important, and it is more visible on a chart. I see a volume supported resistance/support line around 4.05, the 50% retracement at 3.93 is a very abstract level on the chart: nothing there, except the retracement line.

Well, well, hear me talking TA! Shoot it down if you don't like it, I might learn something, even though I am more of a formula trader myself, witness my current trading.

BTW, Dave: if you want to quote someone in your reply, it is much better to click Quote than to click Reply. That is what that Quote button is there for.

Regards,

Karel

[Karel]

I scroll down and all I see is a cat peaking over a well-worn piece of 4 X 4 timber. I can see the chart in

BEL 1% long setup presents today with R/R of 380! lol

however. So my explorer settings are not the problem.

No, you are right. When I look at that page in Internet Explorer (but then, who does?), I can't see it either. But funny thing: the chart is there! It is the small empty blue bordered square just over Spike's alter ego. The image is really there: right click inside that square, choose the Save Picture As option, save it, and it saves the chart! A bit roundabout, though!

Regards,

Karel

[DSteckler]

<< Of course, and now how to decide on the significant high and low. >>

Two ways to do that, Karel: 1) use a swing high and swing low; 2) eyeball the highs/lows for either an ATH/ATL or the launching point for a sustained move higher/lower.

[Lyehopper]

No, you are right. When I look at that page in Internet Explorer (but then, who does?),

What browser do you use Karel?

[Karel]

I use Firefox. Works well, but some sites are designed exclusively for Internet Explorer.

Regards,

Karel

[spikefader]

Spike,

I cannot see the chart and the link you gave.

Tim

Thanks fer the heads up on that. Sorry dude; must be my fat fingered beginner messin' around with html lol

Try again and let me know if I still need to change the format. Thnx fer yalls patience while I get these blogs "actin' right"

http://spike-on-bel.blogspot.com/

[Lyehopper]

I use Firefox. Works well, but some sites are designed exclusively for Internet Explorer.

Regards,

Karel

I installed foxfire about two weeks ago because a friend of mind said he likes it. So I just used it.... and I can see the charts now too. I then tried Internet explorer again and it worked.... Wonder why it wouldn't yesterday?

btw....It seems that foxfire is a heck of a lot quicker at loading the page. COOOL!!!!