You can keep posting this stuff if you want...just remember it's a lot easier and faster to flip a coin.
https://www.evidencebasedta.com/
Recognizing Reversals from the Top/Highs
- Thread starter trader99
- Start date
You can keep posting this stuff if you want...just remember it's a lot easier and faster to flip a coin.
https://www.evidencebasedta.com/
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Well i could use the Demark 9 count. But i have to count the candles myself + counted 12 days or 12 weeks instead, on the posted Demark 9 count chart .Of course if you had an agreement with your broker on a certain # of commissions/volume + i do NOT , i would not use his nine count there also.LOL
,.Closing price matters more than intraday/ real time; @ the end of the day everyone in market has voted .If you enjoy plenty of false signals RSI helps with plenty of false signals; if you have to be out by 3rd friday, too many false signals maybe be better than too few LOL
Nope----the failure swing advice is really spot on.
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And its better to use a silver coin. If one likes tops in a Up trending bull market, use a one minute or 5 minute chart. LOL .May not be able to profit off a 5 minute chart noise, but you may see plenty of tops+ bottoms.We know some things work + Jim rogers + his 10 year charts are worth billions. 5 minute chart/rsi= noise. Market makers can profit off noise; not many market makers post here.
, Nope. Zero evidence based on systematic testing. It "works" in hindsight on cherry-picked trades. You can prove me wrong by opening a journal and calling live trades (real trades, with entries, exits and stops) until you have statistically-significant data showing otherwise. Otherwise, the burden of proof is on you and those who peddle this garbage to retail traders.
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LOL I seldom cherry pick or use a RSI. But i like the way PSAR looks on my charts+ IF only silver gets Hunted up past $50, i may use PSAR again.LOL
I could make a lot of stuff work in AN UPTRENDING bull market, most likely. I've sold scrap metal to a dealer- but never used a RSI or PSAR on that. I dont have a problem with any calling a 1% +/dip off a 52 week hi, a reversal,LOL. Problem is , SEPT almost never does a key reversal; TSLA maybe did a SEPT key reversal. But that was also true in SEPT 2018, TSLA. LOL
Careful with that axe Eugine, lol.
Characteristic of oscillators, That RSI "overbought" condition can continue for a good while.
I've seen plenty of situations where the Failure Swing Pattern is worth a second look though.
"How much will this cost me when I'm wrong?
Then go ahead with whatever else matters in the plan of action, but first and foremost, know that.
When that's unknown, it's funny how often it makes itself known in spades.
Have a good weekend
cheers
Characteristic of oscillators, That RSI "overbought" condition can continue for a good while.
I've seen plenty of situations where the Failure Swing Pattern is worth a second look though.
"How much will this cost me when I'm wrong?
Then go ahead with whatever else matters in the plan of action, but first and foremost, know that.
When that's unknown, it's funny how often it makes itself known in spades.
Have a good weekend
cheers
ES Journal has shown the evidence every year.
Link? I'm talking real trade-by-trade results, not cherry-picking or anecdotal stuff.
I always call entry, stop and exit in real time