Why do you call it a wedge?
Rewind Back 15 Years
- Thread starter padutrader
- Start date
counter trend strength
because the wedge behavior is the same
I don’t understand. What do you mean wedge behavior is the same? But you can’t draw a wedge. I am a bit confused here.
Are you saying at one point it could be drawn to look like a wedge but you don’t consider it a wedge until it can be drawn as a wedge AND also you have see some counter trend strength to consider it a tradable edge?
Could you please draw out the wedge and indicate where the counter trend strength is on the both the charts in post 844 and 845?
That might help me to understand and see what you are saying.
Thanks.
why did you not say so...that you did not understand.
basic:do not go counter trend until you see considerable counter trend strength..forget about patterns....and even when you see the strength do not blindly go countertrend.
you have to see some weakness in the trend and you will see some weakness,which will be well disguised,because the countertrend traders will continue entering trades...they will be big boys who will not be bothered if the market goes against them by 50-100 ticks or whatever
see chart see the bars in the box....that retraced a lot of previous up move.....do you not think that is strong counter trend strength?
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if you saw the last two bars they had tails which showed that there were buyers;
this countertrend strength it is very subtle it is not obvious but the manipulators were buying into the down move....it was a trap.....and they were buying from the bear traders....they do not manipulate for fun,they manipulate to make money..
you can see what happened later....in the chart below....between the red arrows..is the 3 bars i talked about in that post...there is one more bar and then the trap was SPRUNG....
do you understand now?
if this helps you in trading make a donation to a charity of your choice...it cost me a lot of losses to figure this out and i had also to put up with a lot of 'fun' and insults from everyone here...that only makes me stronger and shows up those 'friends' for the fools they are.
and there is, as the Americans say, 'no free lunch'
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'those that did not share in my suffering will not share in my success' - Will Smith
The saying in the US " no free lunch" is derived from the US Great Depression era.
A small Midwestern restaurant allowed drifters and vagrants soup and crackers in exchange for sweeping dust from the establishments front porch.
Simultaneous and related to the hardships in the area were the great dust storms of "The dust bowl" which killed virtually all area livestock and afflicted many with a form of Black Lung disease. The restaraunt aside the Good Samaritan , owned by a Mr. G. Gordon Liddy and sons , a competitor, hung the now famous sign "No Free Lunch".
There you have it.
A small Midwestern restaurant allowed drifters and vagrants soup and crackers in exchange for sweeping dust from the establishments front porch.
Simultaneous and related to the hardships in the area were the great dust storms of "The dust bowl" which killed virtually all area livestock and afflicted many with a form of Black Lung disease. The restaraunt aside the Good Samaritan , owned by a Mr. G. Gordon Liddy and sons , a competitor, hung the now famous sign "No Free Lunch".
There you have it.
amazing info....did not know you are that elderly though your wisdom is legendary