Stock speculation is inside informationThe principles of successful stock speculation are based on the supposition that people will continue in the future to make the mistakes that they have made in the past.
-- T F Woodlock
Stock speculation is inside informationThe principles of successful stock speculation are based on the supposition that people will continue in the future to make the mistakes that they have made in the past.
-- T F Woodlock
But there is a point on the one minute chart where the actual high and reversal occur. Is it your contention that it can't be known at the time?This is wrong reversal occurs when majority of investors (mostly including big institutional investors) start to believe in long-term reversal and therefore change supply/demand balance either starting to buy or starting to sell in big volumes.
You may find the lowest or highest point of a long-term and zoom it into 1-minute time-frame but this is not the point whether reversal occurred. It could be the point when one of the "Big Guys" extra money to buy or to sell, but there is no way that at that point you can say this is a reversal. If other institutional investors pick up this action them we may have a reversal, but this is the longer than 1-minute process for long-term trends, and it can take even several months, especially at a long-term resistance level.
%%%%%%%%%%%%%%%%Yes, and all the wrong signals too.![]()
And I think this is why day-traders focus so heavily on this 1 minute chart. However, most do not use other time frames to confirm context etc and so most 1 minute chart signals are not good ones for your typical day-trader to use.Which is the correct one minute chart reversal to take that is the beginning of a long term reversal?
%%Try Donchian trading...sell the lows and buy the highs; it worked for him