Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
As I type this, on the first trading of the year, ES, NQ, RTY, CL, BTC, ETH, XLF are all bright green. So I’m sure all the bulls are happy as can be. As I mentioned this weekend, however, the first day isn’t exactly prophetic about the year ahead. I’m still focused on the basics: trendlines. support, and resistance.
It doesn’t merit repeating, but I’ll say it anyway: EFA is still a remarkable pattern, provided it does not pass the price gap at 79.37. Keep the faith, EFA brethren!
I wanted to make mention of a couple of items of interest. First of all is Tesla, which is having a great first day of the year; as of this post, TSLA is up over $110, egged on by strong unit sales of their cars (particularly the Model 3). It has vaulted past its descending trendline, and its next challenge will be to conquer the price gap (marked with an arrow, and further marked with a horizontal red line).
Just a silly comment-cleaner to give me time to catch up on the day……….
Of the many lines one can place on a chart, the objective is to help determine price movement – what is most likely to happen next – in an effort to execute a profitable trade.
Trend lines can be placed on a chart to show an uptrend or downtrend.
Horizontal lines can be placed based on high and low prices, on fibonacci retracement levels, and to note price gaps. Chart patterns, such as triangles, wedges and pennants, can be drawn by the chartist. All of these lines drawn are meant to offer support and resistance levels.
Whatever annotations we place on a chart they are an effort to assess the probabilities of a directional move in price. Assessing price action is based on maintaining or breaking support or resistance. Breaking support or resistance lines may well indicate a change of price direction [false breakouts notwithstanding].
(more…)Preface to all parts: It’s that time of year again. I have written over 30,000 posts during the long history of Slope, and at the end of each year, I gather up what I consider the best of the prior year’s offerings. At the end of every year, I assume I’m utterly out of material, and yet at the same time, I look back with amazement at all the terrific posts from the year that has just completed. I’m not sure how long I can keep this up, but my concerns of content exhaustion have been proved wrong since March 2005. For your reading pleasure, I offer the following Best of 2021 Posts:
Fiscal Fantasy
Looking ahead a few years to the disasters about to befall us
Tesla Reflections
My success story predicting the price movements of Tesla
The Scale of Time & Space
We’ve only been here for a few moments, relatively speaking
Their Original Upright Positions
Life aboard a commercial jetliner……and an Uber car
The Passport
My epic tale of a lost passport that wasn’t lost and my travails with government employees afterward
Gulag Reflections
Nobel winner Solzhenitsyn wrote this masterwork decades ago, and it shook me to the core
That’s it! The last one! Here’s to a great 2022!
