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Personally, I don't use TA in my trading. But I would look at MA50 and MA200 once in a while because they're followed by large fund managers. I think that last line pretty much sums up how the PA folks feel about TA. :)

Ahem, not to sound anal, but does that qualify as a "real-time" trade? :) I mean it was you who kvetched about hind-sight analysis, after all.

Man, don't you pay attention to details? That wasn't my chart. :banghead: I was merely replying to somebody else's chart, only adding my perspective. And I much prefer you do that as well. Instead of criticizing, why not provide some insight? Anyway, if you care to know, here's what I'm looking...

Almost all of you have never posted any real time trades, so I find this hypocritical to say the least.

Look, I've created this journal to exchange ideas regarding PA. It's not a pissing contest to see who is better or not.

Must I repeat myself again?

Well, that's easy. Support is at 2 and resistance at 1 (see below). But here's a brief analysis of what I see going forward. First, it appears that we are in a handle of the "cup and handle" formation, hence more bullish than bearish IMO. Second, we've just registered "higher low" (cf. number...

Since we're in a market correction, you should compare it to 2000-01 and 2008-09 bear markets. Anyway, I don't think these stats tell a complete picture since today's market seems much different from, say, just 10 years ago.

Alright, that makes more sense. Thx. So you actually don't get in at the 3-bar reversal (that's what the yellow box looks like to me) but wait until price revisits that point later. That's interesting, never thought of it that way.

This is how I would have seen the chart, nothing fancy.

Yeah, but you could also say the same thing about fundamental analysis and everything else regarding trading/investing. Since you can't see into the future, what's the point?

No, not really. I still don't understand what purpose the lines with ??? serves. Anyway, good to know your thoughts.

Can you elaborate on how you came up with those lines, especially the bottom channel line (or support)? That is, what constitute them as support, which I don't see?

You can find the original The Price Action Journal here: https://www.elitetrader.com/et/threads/the-price-action-journal.132170/ Hope to bounce around good ideas relating to PA in the similar spirit as the original thread.

It's not "200 day" but "200 period" moving average. So, in your case, you're looking at the average of the previous 200 weeks (roughly 4 years).

Looking forward to reading this one. I mean, how can I not? All the Fed chairmen (including a woman) who came after him are, well, pussies. :vomit:

I got an audiobook of this title from the library recently. Some things just never change.

Are you serious? Like you need to know Classical Mechanics to "become a serious quant"? :) I've seen quant books like the one below for physicists but never the other way around.

Just curious, why do you add the two instruments?

Since we hit 3900 yesterday. Or rather since this morning.