What is the magic X trigger?Keith Fitz-Gerald is flogging a mystery pattern that magically only he appears to know about. I seem to recall someone else was flogging a similar magic X crossing a while back.
It could be Aroon or a number of different indicators. Anyone out there have any idea’s?
regards Les.
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Aroon is definitely part of it, at least — we had a long discussion about it early in 2015, which is the first time I saw him pitching this “Magic X” pattern trading signal… most likely the actual pattern and pitch hasn’t changed much, though he may be flogging different stocks at the moment — that older discussion is here if you’d like to see what folks had to say.
Looks like Aroon 14-21 day calculation. Then he is taking those that look like they will breakout and checking their 9 point Piotroski score for financial stability. I have used this method, and it can help (time consuming for sure), but still use some common or your “spider” sense before pulling the trigger on buys/sells.
It works but is expensive at $1995.00 per year. There is another service out there that has the same thimg – the same stocks for $295.00 per year. What works best for me is a combination RSI and MACD mixed wth daily expodential Candlestick watching.