CL Journal

Buy1Sell2 said:
Actually, trading hasn't changed, just the interface has. --MACD as viable now as ever--(and that's very)
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JSSPMK said:
If I was to simply state my opinion I'd say next leg is more likely to be bearish.
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I'm very very pleased traders believe and adhere to the (tried and untested) TA indicators of old.
 
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Buy1Sell2 said:
Long term chart remains bullish. Shorter term not so much. I'll be watching this one closely.
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:wtf:
 
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themickey said:
I'm very very pleased traders believe and adhere to the (tried and untested) TA indicators of old.
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You do realise that you can't backtest MACD to gain definitive statistical conclusion, due to a variance factor in settings, stop sizes, targets, visual perception of a tradable and non-tradable pattern emerging, psychological factor (a biggie this one), etc.

You give a pattern to 100 traders and you'll have 100 different results.

In "Sully" there is a bit where the board accuses Sully of his misjudgement of situation and landing the aircraft on water instead of making it back to the airport, multiple tests in simulator with different pilots pointed to his error of judgment, but he steps in and challenges their results by stating that their model does not account for the 'human factor' when time will always be lost when a human brain (which reacts differently from person to person) takes time to scramble to come up with a solution when faced with an unknown event. Same is applicable in trading, as every next moment is unknown and you never know how exactly you will be dealing with an unknown event.

Another reaction to the unexpected.

 
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The key here in the short term will be a print of 46.87. I would like to see the action afterwards to determine whether or not top continue holding long. (Pricing is currently 46.62)
 
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