What is your way of identifying trend reversals?

Question for @padutrader if I may. During your hiatus from the Forum, have you studied any other Gurus other than Brooks? Have you discarded any of Brooks ideas?

You're a bit of a Celebrity around here Padu Bollywood next?

padman-og-jpg.307975
 
ironchef said:
All moving averages, MACD, RSI... work well in backtests.
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In my experience, no they don't. In fact they all stink, in backtests and realtime. What one needs is an indicator that combines zero group delay (look it up) with acceptable attenuation ability. I may have discovered one such, but that remains to be proven.
 
Darc said:
Question for @padutrader if I may. During your hiatus from the Forum, have you studied any other Gurus other than Brooks? Have you discarded any of Brooks ideas?

You're a bit of a Celebrity around here Padu Bollywood next?

padman-og-jpg.307975
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theer is no such thing as Brooks ideas.......they are all based on classical technical analysis.....he has only renamed them......... so it is not possible to dismiss 'his' ideas
and not many market participants see a move of 12 ticks on the ES and see a trading opportunity......trying to copy this is to be done only by the most hardened of traders.
he can confuse the hell out of you and while i have not read anyone else in 15 years....i would advice approach with extreme caution
 
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there are many reversal patterns.

one of the more common ones is the failed channel line breakout also known as the wedge....or, as BPA traders know, 3 pushes .
of course the failed breakout may fail, leading to a resumption of the trend, leading to what is known as the breakout pull back trade.

most reversals fail so it is always better to wait for a second entry: in the above example this is when the breakout pull back trade fails.BPA traders will recognise this as H2/L2.

also always wait a suitable set up to form as this facilitate a stop loss: blindly jumping in will sometimes lead to grief
 
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Overnight said:
He can't answer you right now, he's licking his wounds from the perfect short he posted last night, which was quoted 3 points above the very bottom.
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oh i have done that a thousand times.....but i am man enough to admit it
 
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