The DOW elected the bearish daily reversal at 27068.78 with the Dow closing at 26864.3, a 0.76% difference. I have bought DOG which is an inverse ETF for the dow.
Are holding your short for three days now because you concluded that this should be the trading period?
Read this blog starting at page 273 to find out more about computerized fraud
See
https://armstrongecmscam.blogspot.com for a more compact view of major findings posted in this blog
I am holding according to these rules:
Trading Rules:
Stop loss is set at the nearest opposite reversal, but only a closing basis for the selected timeunit
If elected reversal is less than 1%:
• Sell on second timeunit closing if true
• Sell on third timeunit closing if second is false and third is true
• Sell on third timeunit closing if all three timeunits are false
• Sell on first timeunit closing if true and the corresponding opening to closing is opposite the elected reversal (bearish for an elected bullish and
bullish for an elected bearish reversal)
If elected reversal is less more than 1%:
• If first timeunit is true, sell on second timeunit
• If first timeunit is false and second is true, check if the first closing is above the reversal for bullish or below for bearish. If so this is a "successful
retest" of the reversal. Sell on third timeunit (second after the "retest")
• If all three timeunits are false, wait unit the closing is above the election of a reversal, a "successful closing", for the corresponding timeunit, (ex.
Monthly closing for elected monthly reversals, weekly closing for weekly reversals, daily closing for elected daily closing) Sell two timeunits after
the "successful closing"
For all elected reversals:
• If the first timeunit is a doji candle but true, sell
• If another reversal is elected on or before the "sell timeunit", then the time is reset for the previous elected reversal, add to position and follow the
rules for the latest elected reversal for all positions. This signal overpowers all other signals
• If multiple successive reversals are elected and the closing of the first timeunit of the latest reversal is a doji candle that closes very close to the
election closing, sell all positions (works for bullish to bullish, bearish to bearish, bullish to bearish, and bearish to bullish)
busy at work. Don't want to post too much on that- mods did take down a live trade due to it being unrelated- but the point is that support/resistance based on past price does work.