Supports, Resistances, and Doji

wxytrader said:
What are you talking about? Just look at my spreads versus butterfly thread. I'm literally trading a swing in a triangle that you punters haven't even recognized as a triangle yet. Lol

Or look at my Bitcoin charts where I projected 3 months in advance where price would be to almost the day.

Or my home Depot projection where I derived from the chart that they were going to miss.

I'll post the links later.

By the way, have you ever posted a chart? Nothing memorable if you have.
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From what I've seen you probably shouldn't be trading Sportscards, let alone Options.

#EW #Nevercutaloss
 
wxytrader said:
What are you talking about? Just look at my spreads versus butterfly thread. I'm literally trading a swing in a triangle that you punters haven't even recognized as a triangle yet. Lol

Or look at my Bitcoin charts where I projected 3 months in advance where price would be to almost the day.

Or my home Depot projection where I derived from the chart that they were going to miss.

I'll post the links later.

By the way, have you ever posted a chart? Nothing memorable if you have.
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Damn bro, that's great. Serve me one more glass of your Kool-Aid.

Darc said:
Hey, don't ebb his flow, he's my next "Guru".

Keep going please @wxytrader I'm trying to see if theres anything I can learn off you. So far I haven't, but I'm patient.
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When did you get plugged into the Matrix? You're really fcked now.
 
wxytrader said:
Of course they exist...but not in zones or levels that can be derived by simply looking at previous zones or levels.
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How do you define support and resistance? Answer the same question for supply and demand, if you will.
 
volpri said:
How do you define support and resistance? Answer the same question for supply and demand, if you will.
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Support and resistance, supply and demand zones are just a crude way to explain price action.

For example.

Price did not "bounce" of resistance here, it reached a statistical retracement level.

upload_2024-9-2_5-8-31.png




It can also retrace .5 or .618, where you would think once the S&R level/zone was broken that we were having a trend reversal, and then call it a failed break out when you get stopped out lol.

upload_2024-9-2_5-16-19.png


Don't even get me started on order blocks lol...another crude example of trying to explain price action that is not understood.
 
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wxytrader said:
Support and resistance, supply and demand zones are just a crude way to explain price action.

For example.

Price did not "bounce" of resistance here, it reached a statistical retracement level.

View attachment 348005



It can also retrace .5 or .618 which you would then adjust your chart to have an S&R zone to explain that...after the fact and too late of course because you would think once the level was broken that we were having a trend reversal, and then call it a failed break out when you get stopped out lol.

View attachment 348007

Don't even get me started on order blocks lol...another crude example of trying to explain price action that is not understood.
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"statistical retracement level" MasterWxy???!!!
 
wxytrader said:
I like to refer to Fibonacci levels as natures quants. :)
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So you give more credibility to Fibs than S&R or "Supply and Demand zones"???!!!

I get the point of Price moving by a certain amount it's more likely to bounce, but arbitrary Fibs MasterWxy?
 
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Darc said:
So you give more credibility to Fibs than S&R or "Supply and Demand zones"???!!!

I get the point of Price moving by a certain amount it's more likely to bounce, but arbitrary Fibs MasterWxy?
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Are you joking? I just explained how S&R/Supply and demands zones don't exist. I legit feel I could walk into any funds quant department and end their careers by saying, "Hey guys, you ever heard of a Fibonacci retracement tool? :)
 
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