POLL: Elliott Wave vs Support & Resistance (which is better?)

[Reactive Analytics]

Regardless of whether you are trading manually or in automation, the goal is always, "big winners, small loses and consistent profits. If your goals are different, that is all you.
No one like losses.
If you can objectively create your charts so your decision points are all deadly consistent then you will easily see where your best trade potentials exist. If you can't objectively set up your charts, there is certain part of your decision making process that becomes art.
I love going to museums to see art I don't like it on my charts.
Every indicator added to a chart diminishes the accuracy of the analysis of that particular chart pure price action. Two indicators make it worse, three even worse and so on. Simple math.

 

[wxytrader]

Regardless of whether you are trading manually or in automation, the goal is always, "big winners, small loses and consistent profits. If your goals are different, that is all you.
No one like losses.
If you can objectively create your charts so your decision points are all deadly consistent then you will easily see where your best trade potentials exist. If you can't objectively set up your charts, there is certain part of your decision making process that becomes art.
I love going to museums to see art I don't like it on my charts.
Every indicator added to a chart diminishes the accuracy of the analysis of that particular chart pure price action. Two indicators make it worse, three even worse and so on. Simple math.

No quant on the planet...(maybe rentec) was calling for a 56k pullback, with a time frame, when price was at ath's back in March. These projections can't be done by crunching numbers, only by recognizing cycles.

 

[poopy]

Look at the attachments on ET lol...all the proof is here dating back to March!

Sure it is

 

[wxytrader]

Sure it is

It is. You can see the time stamp when it was posted. ??

 

[Reactive Analytics]

No quant on the planet...(maybe rentec) was calling for a 56k pullback, with a time frame, when price was at ath's back in March. These projections can't be done by crunching numbers, only by recognizing cycles.

I don't call any trade in advance.
Predicting ANYTHING in the markets is foolish and unnecessary.
Reacting is so much more productive and profitable.
I read and react to what is happening on the specific chart traded in real time.
I agree with reading cycles but EW doesn't give you that ability to do it objectively.
$56K pullback you are referring to, are you talking about Gold?

 

[wxytrader]

I don't call any trade in advance.
Predicting ANYTHING in the markets is foolish and unnecessary.
Reacting is so much more productive and profitable.
I read and react to what is happening on the specific chart traded in real time.
I agree with reading cycles but EW doesn't give you that ability to do it objectively.
$56K pullback you are referring to, are you talking about Gold?

No, I called a BTC retrace to 56k like back in March or early April.

 

[poopy]

It is. You can see the time stamp when it was posted. ??

Please. Some vague call on BTC? Clown shoes.

How about the one ticker that actually qualified as a call? You lost what? 30% in a week on the short puts?

Sell the '07 Gallardo and put it in a CD. Spend your time on something constructive. This ain't it.

 

[wxytrader]

Please. Some vague call on BTC? Clown shoes.

How about the one ticker that actually qualified as a call? You lost what? 30% in a week on the short puts?

Sell the '07 Gallardo and put it in a CD. Spend your time on something constructive. This ain't it.

What are you talking about? I'm still collecting premium on that position. That was a mechanical trade that I actually called before selling the puts as I wanted to test my strategy under a worst case scenario. It was 3 lots lol not 300.

 

[Reactive Analytics]

I see what you were looking at but the massive consolidation which began on March 19th kept me out until April 25th. That is where I shorted the open. I reacted to the chart and it kept me out for nearly 5 weeks of heartburn.
My philosophy . . . react don't predict.

 

[wxytrader]

I see what you were looking at but the massive consolidation which began on March 19th kept me out until April 25th. That is where I shorted the open. I reacted to the chart and it kept me out for nearly 5 weeks of heartburn.
My philosophy . . . react don't predict.

See if using EW you could have shorted at N or P (top) but good entry. It was not necessarily due to a resistance level fail though but a B wave which can be measured...but hey if it works! I don't short and buying puts are too expensive so my entry will be long. I wouldn't even look at this until C completes, and then probably sit out another correction and look for cheap calls.