Simplicity in TA
- Thread starter Xspurt
- Start date
I'm a little insulted (acutally a lot) but check your email. 3 day weekend and a wedding so I got a little lazy
no....... I wasn't phishing for your email. That video was actually pretty good though!
If you notice I actually asked you to PM (private message) me your email. I was waiting for a message to show up in my mailbox ( I usually get a pop-up). Then i realized you had posted it to this thread.
I was waiting for a message to show up in my mailbox ( I usually get a pop-up). Then i realized you had posted it to this thread. It was a joke played on your failure to deliver on time. Lighten up kid, I'm joking 95% of the time. Grow a thicker skin, and don't let others' actions disturb you. I hope you are still short. Nice catch.
Sorry about that! I couldn't tell if it was a joke or not. ET's been pure frustration so I usually just fly off the handle and apologize later hah.
Thanks. Actually I closed 1/2 @ 41.8 premarket on Friday when I should have added EOD. But I didn't want to sit through any BS over the weekend on the full position.
ET's been pure frustration so I usually just fly off the handle and apologize later hah. Thanks. Actually I closed 1/2 @ 41.8 premarket on Friday when I should have added EOD. But I didn't want to sit through any BS over the weekend on the full position.
Sent you another email bud
Sorry about that lol
Getting back to the subject regarding multiple time frames, personally I think there is no merit in attempting to trade by observing multiple time frames.
KISS is the answer, all the super analysing using triangles, indicators, cycles, time frames blahblah etc is just adding more trading noise to the equation.
Everyone to their own but in my opinion price and price alone is king with maybe a small amount of volume analysis.
Multiple tiime frames sounds sophisticated, but like much of T/A it's baloney, it doesn't work with any real results.
If one is trading a 30 minute pattern, it doesn't matter in my opinion whether for example the weekly or monthly trend is up or down.
You cannot predict price, all one can do is react to price, looking at T/A tea leaves including BS multiple time frames leads to over analysing and getting it wrong 50% of the time.
The deeper the analysis, the harder and more confusing trading becomes.
Just my opinion...5c worth.
KISS is the answer, all the super analysing using triangles, indicators, cycles, time frames blahblah etc is just adding more trading noise to the equation.
Everyone to their own but in my opinion price and price alone is king with maybe a small amount of volume analysis.
Multiple tiime frames sounds sophisticated, but like much of T/A it's baloney, it doesn't work with any real results.
If one is trading a 30 minute pattern, it doesn't matter in my opinion whether for example the weekly or monthly trend is up or down.
You cannot predict price, all one can do is react to price, looking at T/A tea leaves including BS multiple time frames leads to over analysing and getting it wrong 50% of the time.
The deeper the analysis, the harder and more confusing trading becomes.
Just my opinion...5c worth.
Does your projection still stand? Looks like a test of the broken trendline may be coming....
If there's an FTT, this kind of trading will at least still be viable. I don't know about day trading though....
I have a friend who's helping me learn the ropes, he's a swing trader. I asked him if a tax would put him out of business and he said no, but it would make a tough game even tougher.
Quote from dv4632:
Does your projection still stand? Looks like a test of the broken trendline may be coming....
If there's an FTT, this kind of trading will at least still be viable. I don't know about day trading though....
I have a friend who's helping me learn the ropes, he's a swing trader. I asked him if a tax would put him out of business and he said no, but it would make a tough game even tougher.
Good question. The best answer is trade what unfolds but putting my prophet's hat on here's how I see the possibilities.
In the run up to the top of the wedge I said it was a no-brainer as the system was pumped by the Fed. The bottom we had a few weeks back was another no-brainer as it recorded the highest short interest in years as dummies gobbled up all the bad news and thought it was a one way bet to short the bottom.
That level of shorts is a well known major buy signal and the effects of the short squeeze is driving us up, but there is a problem. The weekly looks over cooked but the monthly is strong and that kind of compression tends to produce a choppy dither. Another problem is seasonal manipulation as it approaches year end bonus time and often PA dips a bit before a Santa Claus rally. It certainly is not the time for crashes to unfold but with the crazy world we live in anything is possible.
So with all the potential yanking of these forces it's more likely to dither, pull back a little, try a rally and then die in the New Year. Earlier in the thread I said this pattern tends to have a pull back before the real event and in my experience it is not unusual for PA to enter the wedge again and then break down but with the strength that is in the monthly charts I would want to see the gas level depleted before the crash sets in.
With a wee bit of fundamentals for the background and good chart reading skills you can stay on the right side of the moves without having to foretell the future - but it is fun to have a go at it
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Trend Mick;
Good points & I could agree with most/much of that;
except while one could look on 10 years data on daily candles.
Notice the clarity of candles... 10 year monthly candles;
same data, monthly candles simply easy on eyes
If i had to pick one time frame it would be daily candles;
but i do not have to pick one time frame only.