Slope of Hope Blog Posts

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.

Intra-Day Trading with Trend Tracker (by Leaf_West)

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I wrote a trilogy on some new software that I have been using the past couple of weeks … whoopdedo right?  While there are plenty of software packages available to traders out there, I think this code should hit home with traders because it really focuses on the trend of price.  I have found that most intra-day traders get caught up trading against the dominate trend and/or don't stay with a trend long enough to maximize their profit potential.

Anyways, I'm not saying all traders should use the system but I think reading the three blogs will open some traders' eyes about how they look at intra-day trends.  For that alone the trilogy is worth the read.

Part 1 of the trilogy goes over the software and its color coding features, the second the software code's histogram feature, and finally the third covers a couple of hours of intra-day trading from a recent day to show how it works.

Check it out if you want to learn more about trend trading … here is the third part of that trilogy.  Cheers …



Morning Outlook (by Leaf_West)

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Every evening I publish an outlook for the next day's trading in the SPY ETF … it looks at important levels and potential patterns.  Then on the following morning, I update the outlook with a tighter focus on the pre-market action and the specific Control Bar Values and other support/resistance areas.

I suggest that this exercise makes me a more prepared trader and I would suggest ALL active traders perform a similar exercise.  For illustration purposes I will combine last night's report with the pre-market update that I just published.

Cheers …


GS About to Start Wave 3 (by Leaf_West)

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Because I know Tim is a big supporter of EWT, I thought I would put up a post on GS …

I'm long GS and I am watching here as the stock looks like it has completed a Wave 2 retracement, and is about to start a 3rd wave push higher …

GS 10-Minute Charts

GS_Nov 29, 2011_10min_01

Wave 2 pull-backs are very emotional as buyers and sellers battle it out … they typically end at the 78.6% Fib level as GS just did .

GS_Nov 29, 2011_10min_02

The 2nd wave ended right in the projected target zone and is now on the cusp of breaking a down trend line.

GS 60-Minute Chart

GS_Nov 29, 2011_60min_01

It has to be determined whether or not the 3rd wave is just that …  a 3rd wave in a corrective bounce, or whether it leads to a 5th wave push higher.  We can figure that out when the 3rd wave is over and the pull-back begins.

Here is the Contraction Pattern I am hawking right now … it looks like it is going to pull-back before breaking the move higher.

GS 3-Minute Chart

GS_Nov 29, 2011_3min_01

Cheers … Leaf_West (please visit me at my blog (