Thank God, I finally found someone with a lot of background
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I usually trade the Dow, EUR-USD and Gold on Weekly basis. But I used the Advanced buy against the Reversals Strategy. And I made some Money and then lost it again
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So I decided to research more and change the strategy.
If I understand you correctly.
You are trade on the Daily level, and as soon as a reversal is elected you open a position and not trade if a cluster is appearing
Do you look at the arrays for the Entry as well? Are you only trading in trend direction?
The Problem on the Daily basis is the arrays are telling me 80% of the time, today (whatever day it is) is the Turning Point.
Could you just tell me exactly how you follow the Reversals. For Example in the Dow we had a Weekly Bearish on march 8th. But the price moved up. The Daily Arrays refer to the 13th. As Turning point, but at this time you would have lost the Money. On the Daily we elected 3 Daily Bearish march 22th and the price never came back to the 25.518. Afterwards we elected the next Daily Bearish on march 26th and then came the move up
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So you have to do more than simply buy when a Bullish Reversal is elected and sell when a bearish reversal is elected
..But what?
I really dont see how I can play the reversals right
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Also i am not sure about a statment from MA about the Dow(13th March): there is no rush to jump in, until we take out the fourth reversal
.But 4 Reversals mean a move to the other direction. So what he wants to tell us?
I would follow the reversal system which will tell you the direction and let that be the guide since Armstrong has said the array is not 100% but I do find the directional change to be very good. The market may move against you in the short term but the reversals will ultimately define the trend.
if you going to enter the market you could buy or sell against a reversal if tested on the day/week/month of a turning point so for example on the Dow monthly array we have a turning point in May which also has a directional change which suggests we could get a spike high or low that month as Armstrong has suggested as well. You then would need to find what week in May this turning point(high or low) may occur which appears to be the 6th of May and you could simply buy or sell against whatever reversal it is testing at that time and if the reversal is not elected then time is up and that should mark the high or low.
So let's say we elect 3 weekly bearish reversals going into May but hold the 4th on the day / week or month of a turning point you could simply buy against the 4th bearish reversal since time is up. The Dow has a lot of weekly bearish reversals(support) at the 24300 area.
For the week of March the 4th we elected a weekly bearish and we also at the same time elected a weekly bullish just below at the 25200 level which we tested and then moved up from there. For the 22nd of March yes we elected 3 daily bearish reversals and on the 25th we hit a low and came close to testing the next bearish reversal at 25312. It dont believe we did actually elect a bullish reversal on the 26th I have screenshots, you need to keep checking especially the daily reversals since it does change quite a lot.
There were 2 daily bullish reversals elected on the Nasdaq yesterday with the main one at 7998 which implied the market would move up today with the next one at 8057.27 so that was the area you needed to sell which was functioning as the resistance level
Regarding the 4th reversal he said there is no rush to jump in until we elect the 4th weekly bullish reversal which stands at 26951.82. we have been consolidating this year and we have not yet exceeded the high of 2018 so Armstrong tells us that Only when ALL FOUR Reversals have been elected do we consider that there has been an important shift in trend. if/when that 4th reversal is elected this market will begin to explode to the upside once again and hit new highs.
as you move closer to the date the more accurate the array will be such as the Dow monthly array was previously saying June was the turning point and now it is May. you may need to take a screenshot of the daily array every so often and the weekly/monthly so you can easily see the turning points before they change since the height of the bars are relative.
Armstrong basically explains why the bars change and why we see such big changes especially on the daily array.
"The first thing you should understand is that the charting is proportional, and not explicit. For example, lets say that January had 30 hits from 72 models. That would be the highest bar. Then January passes and May show up as the highest bar when it was previously half that of January when previously charted. The bars are plotted on a relative basis to the time frame selected. So if the highest bar has 15 hits within that 12 units of time, it will be at the top. As time moves forward and a new target enters the window with 25 hits, it will now appear at the top and the bar with 15 hits will appear as if it diminished. So the charting is RELATIVE and not explicit."