Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 668.73

+1.5%

Nov 24 4:00 PM EST

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GROUND ZERO™

Hank Scorpio

To: GROUND ZERO™ who wrote (116203)	12/14/2018 11:49:21 AM
From: Qone0	2 Recommendations Read Replies (1) of 219272

Hi GZ, Kimberly asked me to explain the thunderbolt pattern here. I call the pattern thunderbolts because that's what they look like on a chart. They are ABCD patterns first discovered by H.M Gartley in 1932. The theory is the market only does 3 things. Goes up in thunderbolt with the D leg of the extending to a fib ext. Goes down in thunderbolt the same as up. Goes sideways in 1 fibs or .886 This appears to be evident in all time frames. I Picked the 15 min time frame to use day trading nearest expiry SPY options. Added MACD to help in identifying which fib the turn was likely to place at. Uses a 1:2 risk reward ratio. Profits are locked in at 100% with a trailing stop, losses are cut at 50% Generates losses when there is a weak/false MACD cross. Comparing the position of the MACD in the hourly chart helps identify these weak/false crosses in the 15 min.

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