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Understanding Green and Red Spikes! by Sig

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signaltap

Posted : Thursday, October 2, 2008 4:03:36 PM

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Joined: 3/16/2006
Posts: 2,214

[10/2/2008 3:11:54 PM] <signaltap> Greenspike explanation:

[10/2/2008 3:13:02 PM] <signaltap> when you see multiple or thick greenspike on any timeframe

(1/5/60/d) is NOT a valid bounce, meaning it should continue lower

[10/2/2008 3:13:26 PM] <signaltap> I will post this here in this club

[10/2/2008 3:14:20 PM] <signaltap> the only way to know if the greenspike is true, you need to see capitulation on that timeframe

[10/2/2008 3:14:20 PM] <GoneFishin> thanks that would be great to understand the signal meaning

[10/2/2008 3:14:51 PM] <signaltap> if it drags slowly lower, it will continue lower

[10/2/2008 3:15:21 PM] <signaltap> if you see a rush, then the spike, ie.... 5min signal, then it could be a good bounce

[10/2/2008 3:16:00 PM] <signaltap> like now! watch the rush downward, watch for a 5min dj30 greensike signal!

[10/2/2008 3:17:04 PM] <signaltap> sorry is 1 min rush seen

[10/2/2008 3:17:54 PM] <signaltap> the 5 min is not oversold yet, look @ stoch's

[10/2/2008 3:18:19 PM] <signaltap> is like 40's now

[10/2/2008 3:18:32 PM] <signaltap> = much lower short term

[10/2/2008 3:19:11 PM] <signaltap> 60 min is gettting close for a big bounce blue line under 20 (stoch's

[10/2/2008 3:19:46 PM] <signaltap> GDP #s tomorrow 830am, no one wants to be long

[10/2/2008 3:20:57 PM] <signaltap> Redspike explanation:

[10/2/2008 3:21:29 PM] <signaltap> is the opposite of 3:13pm above message

[10/2/2008 3:22:07 PM] <signaltap> when you see multiple or thick redspike, it means is NOT a valid top

[10/2/2008 3:22:41 PM] <signaltap> so it could continue higher, remember the volume behavior for that timeframe

[10/2/2008 3:23:35 PM] <signaltap> if you see an exhaustion move to the upside and stoch's are way overbought, that could be a reason to sell your stop

[10/2/2008 3:23:43 PM] <signaltap> stop = stock

[10/2/2008 3:25:47 PM] <signaltap> also if you see prices continuing moving higher and holding certain levels (true for greenspikes too but the opposite) but not to the races, then it could continue higher if you see multiple redspikes!

[10/2/2008 3:28:00 PM] <signaltap> thats what I have been noticing the way the spikes work, but you have to see BB levels , volume behavior, support and resistance levels and EMA lines behavior, ie.. tightness in different timeframes shown on my fib-sequence rainbow EMA template

thanks for your time, Sig

signaltap

Posted : Saturday, October 4, 2008 7:51:38 AM

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Joined: 3/16/2006
Posts: 2,214

please go and copy both formulas given from this posting:

http://www.worden.com/training/default.aspx?g=posts&t=35250

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