Prove to me that Technical Analysis Works.

[guest_trader_1]

I'm seein a lot of chinwaggin and jawboning. Artistic intuitive traders, lol. Write a book, lol. meanwhile...

ymmv.
Believe none of what you read and only half of what you see.
Nobody needs to prove squat to nobody.
Gotta prove it to yourself.
Do Your Stats. Period.

Anybody wants to know, then get your ass in gear and get to work.
What are the odds this will work?
You're job. This means you too SimpleMeLike.
You want performance stats, my man? Well do ya? Well here's what ya do.
Stop pestering the crap outta everybody and Do The Work Yourself.
Your trading is Your Responsibility.
Yo Momma say she love ya I bet, right?
Go axe her to do your stats for you.
Tell us what she says.
Now if yo momma ain't gonna do your stats, why you think somebody else gonna? Hmmmm?
Break a Leg.

Double Top and Bottom
https://www.elitetrader.com/et/thre...t-right-here-baby.335635/page-18#post-5309309

That should say Sell To Enter on Close below Neckline.
I trade intraday fast charts.
I wait for the close to print as a matter of course, habbit, which means the entry usually hits the road on open of the following candle at best and usually a little after that due to latency, IB data funk etc. It all comes out in the wash. For daily charts, a guy could shoot for "enter on close"
Or better to do imho would be to downshift to a ten minute chart when things are looking juicy and see if ya got a nice Setup / Trigger over there, or on a 30m or a 5m, usually you will see something informative and actionable.
In this case if a cat could stand the suspense, he could have waited toll the next open if that's indeed a daily chart and got a Sweet gift on that one.
Let's see what happens...

View attachment 293029

I am not asking anyone to do my job ma' chap , I don´t do charts.
Last time someone mentioned my mother online was during playing a game with a bunch of teenagers, not sure what to think here.

I asked the question because you guys love charts, it is all about charts isn't it.
The answer is different from yours, the market went up in a rally. Sorry but your TA has failed you.
If you want to feel better, I am sure many TA experts would have replied in a very similar fashion.
I picked that chart because it is an example of how institutional money can change patterns suddenly and leave your shitty TA techniques in underwear.

 

[guest_trader_1]

When you look at your account balance on Friday or the first of the month, Did your method spin off a profit? What worked? What didn't work? What's next?

View attachment 293029

Automated risk and money management, dear. That is what worked, and keeps working.
A bit of more action today, things are getting up to normal.

 

[Sprout]

I am not asking anyone to do my job ma' chap , I don´t do charts.
Last time someone mentioned my mother online was during playing a game with a bunch of teenagers, not sure what to think here.

I asked the question because you guys love charts, it is all about charts isn't it.
The answer is different from yours, the market went up in a rally. Sorry but your TA has failed you.
If you want to feel better, I am sure many TA experts would have replied in a very similar fashion.
I picked that chart because it is an example of how institutional money can change patterns suddenly and leave your shitty TA techniques in underwear.

Replying to me?

With what I described, institutional money footprints can be seen.

Posting a single chart without price, volume and time is like giving someone a football but without teams, a field, nor goalposts and expecting them to call the outcome of a game.

 

[Illini Trader]

Let's see... Who has the courage to discuss a chart without knowing the result in advance?
What would you do here? Would you buy or would you sell?

View attachment 293017

Ok, I will give you a straight up answer. If I have to do something right here it is Buy. The trend is definitely up and it got too far extended too fast and had a double top and necessary retracement. Just eyeballing it it looks like the retracement stopped at about the 61.8% fib retracement and is heading up.

That said, the 3rd bar from the end is a pinbar that rejected a very key resistance area and the last two bars are inside bars of the mother bar. So if it cannot break through the resistance at the top of the mother bar (third bar from end of chart) and instead breaks through the bottom of the mother bar I would shift to Sell.

Interesting puzzle. Thanks for posting. I assume we get your answer after all the analysis is in.

 

[guest_trader_1]

Replying to me?

With what I described, institutional money footprints can be seen.

Posting a single chart without price, volume and time is like giving someone a football but without teams, a field, nor goalposts and expecting them to call the outcome of a game.

nope , it should show the text I was replying to?

have you ignored easymon? I don't blame you

 

[Illini Trader]

There ya go ILLIN, You got stat's for that? (not for me, I got mine, but for yourself)
You got written rules for that? (For your own use)
Tell us your short name for your setup / trigger? When you call that trigger in our new Price Action Live Calls Chat Room, what are you gonna use for a concise descriptive handle that has a 5-work max word limit? We will all have done our own due diligence and decided to put your setup / trigger on the chat room's consensus 'PA menu of Legal Setup / Trigger Calls'.

I counted 4 question marks in your reply LOL Sorry not playing anymore.

 

[guest_trader_1]

Ok, I will give you a straight up answer. If I have to do something right here it is Buy. The trend is definitely up and it got too far extended too fast and had a double top and necessary retracement. Just eyeballing it it looks like the retracement stopped at about the 61.8% fib retracement and is heading up.

That said, the 3rd bar from the end is a pinbar that rejected a very key resistance area and the last two bars are inside bars of the mother bar. So if it cannot break through the resistance at the top of the mother bar (third bar from end of chart) and instead breaks through the bottom of the mother bar I would shift to Sell.

Interesting puzzle. Thanks for posting. I assume we get your answer after all the analysis is in.

We crossed texts apparently, I was posting the answer at the very same time.

 

[easymon1]

I am not asking anyone to do my job ma' chap , I don´t do charts.
Last time someone mentioned my mother online was during playing a game with a bunch of teenagers, not sure what to think here.

I asked the question because you guys love charts, it is all about charts isn't it.
The answer is different from yours, the market went up in a rally. Sorry but your TA has failed you.
If you want to feel better, I am sure many TA experts would have replied in a very similar fashion.
I picked that chart because it is an example of how institutional money can change patterns suddenly and leave your shitty TA techniques in underwear.

I dig that you posted that chart up. there's another thread just for that. Student of the markets and a couple of other et'ers played for a while but fell out pretty quick.
Here is the post to which we are referring...
https://www.elitetrader.com/et/thre...al-analysis-works.367351/page-67#post-5662488

I do not think that you were "asking anyone to do my job".
That little love note was for my bud SimpleMeLike. He's on board with some method of his and from what I gather don't do stats on any of his schemes. Then rides everybody's ass that mentions a method or a setup or has a website or a youtube, and god forbid ya write a book or give a presention, he sees ya with horns on ya haid with a machete ready to chop off a arm and start stealin wallets.
He starts into his screed like that gang of hyenas do and demands "Performance Data"

So i figured that this was an excellent opportunity to again make my point,
and whether that trade hits the target or not does not mean shit to a toad.
The method of statting out a setup / trigger based on a set of written rules consistently
executed is the point of my message, and I had SimpleMeLike in mind when I wrote it.

Now Me and SML been down this road before over in a thread somewhere chapter and verse. SML know that and persists with the Kvetch routine pissing on carpets in threads all over ET about charlatins, theives, scoundrels, instead of promoting, Self Responsibility, Due Diligence, Buyer beware, and giving some of these ideas that get presented some room to breathe.
Jackals and hyenas jump in with pridictable posturing pontification and negative bullshit and pretty soon it smells like a three day old primate cage at the zoo. Yeah, just go in there and do some thinkin'. We'll be back in a couple hours to let ya out. Clean up a little if ya got a minute.

 

[SunTrader]

$3.24 r/t that would sure make me angry. lol.

 

[Illini Trader]

We crossed texts apparently, I was posting the answer at the very same time.

Yes I see that now after I refreshed my screen. So if my TA worked in this unknown chart ya gotta give TA a teensy weenie bit of love don't you -- unh?