Certainly is. This is why until the daily bar closes, it is only conjecture. In addition, it doesn't satisfy the characteristics that were defined in the wikipedia article in that it was not at the top or bottom. It was only at the top of the Hourly bar move, not the daily.. It was interesting to look at though. Later today, I will post a chart of the hourly and show you where I would have reversed if I was trading as low as the hourly bar. I'm on daily, so staying short for now.
The Trouble With Scribbles
- Thread starter Buy1Sell2
- Start date
Well regardless if it met all the conditions or not, I know of no signal that has a 100% accuracy.
That is true, however a true island reversal is as close as you'll get. They are very rare. It is also interesting that so far today's cash chart has produced a high that just meets yesterday's low. Now that indeed is the definition of filling a gap. Now, will it break through the low or retreat?Well regardless if it met all the conditions or not, I know of no signal that has a 100% accuracy.
Given that your intention as the OP of this thread has been to showcase your dismissal of using prior price levels to determine ranges that could indicate levels of interest, the irony of your interest is comedic.
I know of no signal that has a 100% accuracy.
Each of my stop loss signals is 100% accurate
Never to be questioned
Never to be ignored
Always to be honored
Exit
RN
Yes but your stop loss is not "always" a signal, but a risk management measurement.
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