you said it wouldn't go over 1182 with two point margin of error, which makes 1184, yet you just said you went short at 1186. Makes no sense whatsoever.
Unveiling A Method!!!
- Thread starter lundy
- Start date
Do I need to be watching a rerun of Star Trek and have a six-pack on the ready to interpret your "spiral tractor beam" charts?
You caught 80% or more of the previous spiral moves for goobs of money, right?
I got interested in this thread just for its basics. Lundy said he has a method that he is putting some effort into and thinks it has some merit. So shoot him for the effort. I just do not understand what people get out of being so mean-spirited to someone thats making an effort to do something positive.
He calls a top at 1182 with a 2 point margin, well geez the top is at 1186. Maybe it needs a 5 point margin, maybe that might be too much leeway for some here using daily bars?
I really don't know what he is proposing , maybe I will love it maybe never look at it again, but it interests me and it would be nice to see it presented by Lundy. Hope he follows through.
He calls a top at 1182 with a 2 point margin, well geez the top is at 1186. Maybe it needs a 5 point margin, maybe that might be too much leeway for some here using daily bars?
I really don't know what he is proposing , maybe I will love it maybe never look at it again, but it interests me and it would be nice to see it presented by Lundy. Hope he follows through.
you are absolutely right.....
I just discovered this method for finding patterns, and I thought the pattern was rigid, or 1 dimensional.
I'm now seeing evidence that as the spiral unfolds, the pivot points don't have to stay in proportion to the earlier pivots. For example, in the spiral I posted, the first set of pivots were had a 109 percent retracement. The next set had a 110, and the next 111.
I gave 1180 because I thought the spiral would unfold rigidly. However, I found other factors that influenced the ever so slight offset of the first few phases, and after applying them, i came up with a 120% retracement. So I shorted today when the market was pulling back from it's high.
Again, this isn't a thread about me predicting a top... it's about a method for finding patterns. Obviously i haven't presented a finished peice of work. I thought if i presented it here, others might check it out... and maybe communicate with me their findings.
But most people are interested in having a holygrail handed to them... or in seeing someone predict something.... and be wrong.
I am doing neither so there.
Back to the multiple dimension factor.... I have come across alot of patterns or methods for finding support and resistance, but all of them depend on symmetry. I beleive the reason why they work sometimes, and don't other times, is due to the fact that symmetry is multi dimensional.
Sometime, I will post other interesting symmetrical methods I use as well.
Lundy-
Was your stop at 1200 or did you Get stopped out when market printed 1200 today???
your Fib analysis reminds me of TOOL's song, "Spiral Out..." ;-)
I was looking at Pattern symmetry in the market for a few months
didn't derive enough Consistent value from it as I'd like to have, considering its function or utility to a trader. Seemed to get affected by too many variables that ultimately rendered it useless
in my experience. Just my take on it...
However, I could offer up what is working for me time and time again
day in and day out is my Hack Elliot wave counting techniques.
We completed an obvious wave 3 on 5/27, 100% obvious in hindsight, only successfully predicted by a few on the day prior. I read a CMT's report each morning and he had called for that day to be an extreme rally Long. Which it turned out to be just that.
However, once we completed that w.3 I was banking on 5/28 action to be a consolidative wave. Nothing supernatural about that expectation.
The key was whether we were going to make wave 5. Which by my count we completed it today, and in fact went on to complete 3 corrective waves as well.
Here is my count. Do you see any correlation to the Fib spiral you've so generously posted??
Let me know what you think. I'm taking a look at your charts right now.
best of luck trading on Friday.
-momo
Was your stop at 1200 or did you Get stopped out when market printed 1200 today???
your Fib analysis reminds me of TOOL's song, "Spiral Out..." ;-)
I was looking at Pattern symmetry in the market for a few months
didn't derive enough Consistent value from it as I'd like to have, considering its function or utility to a trader. Seemed to get affected by too many variables that ultimately rendered it useless
in my experience. Just my take on it...
However, I could offer up what is working for me time and time again
day in and day out is my Hack Elliot wave counting techniques.
We completed an obvious wave 3 on 5/27, 100% obvious in hindsight, only successfully predicted by a few on the day prior. I read a CMT's report each morning and he had called for that day to be an extreme rally Long. Which it turned out to be just that.
However, once we completed that w.3 I was banking on 5/28 action to be a consolidative wave. Nothing supernatural about that expectation.
The key was whether we were going to make wave 5. Which by my count we completed it today, and in fact went on to complete 3 corrective waves as well.
Here is my count. Do you see any correlation to the Fib spiral you've so generously posted??
Let me know what you think. I'm taking a look at your charts right now.
best of luck trading on Friday.
-momo