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Haha damn, roasted.

you are spazzing out over a simple misunderstanding. I posted that chart not as evidence to support or oppose the question in my OP. I posted it to say yes, this is obvious support and those hammers are definitely a bullish indicator making one think a reversal will occur...which i thought you...

you posted it. And i posted that picture to answer this question you keep asking: Can you spot any situations on any of the chart images on that page where price was trending, made a pullback to resistance or support, showed a hammer or other very simple candlestick at res or sup? Im afraid we...

Can you spot simple in your face setups and triggers? yes, I value support and resistance more than candlestick patterns though. I'm not familiar with average daily range and have only used ATR...but ill check it out. What represented the obvious res or sup levels where those candlestick...

I have used those patterns in the past and believe they can be effective...the long wick shows price rejection in that direction so a reversal is "likely". But IMO...like all TA (and honestly most fundamental info)...they sometimes allow to anticipate the next move and sometimes don't. Honestly...

what I am asking is if the overall trend is up, do you wait on a retracement to enter long. So I am not counter trend...only waiting for a counter trend movement to enter in the direction of the prevailing trend.

Moving averages yeah. I use a mix of sma and hull moving average crossovers for entries as well as a longer term MA to determine which direction I trade...so even if I get a bullish crossover, if it is trading under the longer term MA I can't go long...short only.

excellent movie

sort of hard to do so on these examples as they tend to be focused on the beginning/end of a move catching a reversal...whereas my strategy is more geared towards the middle/meat of the run. On either of your examples...I would be watching the price trend up...once my opinion is set that it...

agree, that's not my definition of counter trend trading...perhaps @zdreg just misunderstood my question.

example being...stock/commodity/etc...is trending down, it meets your criteria to short/you believe it will continue south. do you like to wait for a counter trend movement IE retracement that goes up for a set amount before entering your position or do you enter right away as soon as you form...

What are your other screen names on et?

I think some legitimate edges exist and have existed...like options traders back in the day that could exploit pricing discrepancies...but I agree with you for the most part, "edge" seems to be pretty subjective and some people are calling things like trading support and resistance as their "edge".

This is all you need to know.

you take a short position?

I'll check it out definitely. Thanks

I'm right there with you...genuinely do not trust fundamental info and let price dictate my position...just really want to expand my knowledge because I find it interesting. thanks for the recommendation.

it's funny you mention that. I am listening to that audiobook right now due to driving for vacation (just finished Richard Dennis and starting PTJ)...read it several years ago when I first started trading and this time listening feels like the first and exactly what sparked this thread...

I wasn't saying he was wrong, just teasing some for funsies.