Search results

I'm with you. http://www.elitetrader.com/vb/showthread.php?threadid=192530

here is a perfect example. RE daily chart. 9 days of up movement, broke and closed above its swing low of 82.88 ( marked by purple circle ), and now price is selling off. So... Price broke the 38.2, but if I saw support at 38.2, my stop would be below the price support level of...

For a trade long, my fib is now drawn from the swing low support of 26.54 to highs. You can see we are in an upward channel, though not yet confirmed. We can also see that price is making higher highs, and higher lows, marked by the purple boxes Now as far as a fib retrace goes, I'm not...

1. if price retraces no where near a fib line, then its not one thats important enough to be worried about. 2. If price crashed through a fib line..it may find support at the one under it..if price keeps going down and breaks all the levels, then tough luck. I use fibs in conjunction with...

I'm at the College computer lab so I can't fully respond as I don't have my chart software here, but I can say from looking at your charts of support/resistance circles, you...in my opinion are making it slightly more complex than it needs to be. On my charts I marked major s/r points where the...

u/j putting in a hammer on 4hr bars also along its median fork line..bounce?

pins on e/u 1hr. markets not open yet so you get lots of whip saws.

You dont know. It's pretty much impossible to know before hand. I use fibs in conjuction with price action....example here is a chart of ande on a daily...before i decide to go on, would you tend to agree on the s/r levels i marked?

And you just committed a Material fallacy (Fallacy of Accident a generalization that disregards exceptions) example --> "Fibs are bullshit" when an exception to the generalization is ignored. It is one of the thirteen fallacies originally identified by Aristotle. The fallacy occurs when...

Don't even try :( . He doesn't understand. If there is not a direct mathematical realationship "it cant work".

Well if its on wikipedia it MUST be true. I guess we can get the mods to close this thread sense I'm the only one really posting anything. In conclusion : 1. Op hates fibs 2. Op can't trade fibs successfully 3. Op probably tried to trade fibs in the past but failed 4. Op fails to realize...

You still dont understand do you??... What I'm trying to get through to you is PERCEPTION becomes reality. F--k the facts, or wether the two are related. Am I off base, or do you just not understand? Have his results been audited, and shown to his followers?. How many more analogies...

I tried to help him, but I guess there is no hope. Dont mention AP here, he'll start a new thread saying AP only works after the fact, or something of that nature lol. Id love to meet him.

The market is a "soft" science meaning that its largely built off assumptions. You cant attach some mathematical fallacy theory because its not going to hold up 100% of the time.

have you not seen the charts i just posted?

or these... here let me draw some fibs! LOL!.. where's 1a2b3cppp so we can trash this thread ? :eek: jk

Don't buy this pullback, its a weak stock! :p ... Keep buying at the highs, and see whats happens. Buy low, sell high.

I never said it was right. I'm saying you cant ignore it. If there is a large enough sample of people who follow and believe something..it becomes right. example --> a "criminal" and a jury... wether the man commited a crime or not is NOT the point, but because the majority of jurors...

Lescor If someone told you that you could no longer day trade, and you had 3 options " 1. learn to swing trade 2. develope a new trading method (NO automating), or attempt to use the one you have now on longer tf's, and again no automating. 3. Quit trading all together What's your...

cbi... newbs would go long at the break and close at 21.50. Price then reversed two days later and eventually broke and made new lows.