It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford

Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin

The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Saturday 15 June 2013

charts from Ron Walker


  1. That 60 min shows a very low risk, high reward short. Stop loss is just above the 200 hour moving average (depending on the filter). The setup is beautiful. Possible RSI and STO swing failures, MACD possibly failing at the zero line, ADX looking to confirm negative with price triangulating under short term and longer term moving average S/R with still more time for the down cycle to possibly run - if there ever was a short setup in the last 6 months, this is it, and if you're not taking it, you'd better ask yourself what you're doing in the market to begin with. ;-)

    The first big long level is just as clear as the short level BTW - 1600 price, trend, and 50dma (not shown here obviously). Very nicely defined risk/reward regardless of your tendency, and a long would certainly be reasonable if the markets are unable to break down.

    Nice chart illustrating the setup, and the 30 minute isn't bad either.

  2. Yes it should be an interesting week.I wouldn't rule out a spike on Monday to take out some stops,then reverse :-)

  3. Here's a great article with a lot of great stuff, including a failed retest level on the /es that lines up with the SPX 200hma we talked about above.


    I also really like his "SM" volumen and price action at highs analysis!