How do you tell the difference between a bearish down count channel, and a bullish flag?
Dr. C
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedFibs are only relevant if someone draws them and then acts upon them.Ignored
DislikedNot entirely true, fibonacci numbers are a representation of growth in time....Ignored
DislikedThe big money in Forex is decided or at least is said to be decided on the longer time frames.Ignored
DislikedNot entirely true, fibonacci numbers are a representation of growth in time. Even though it is a ideological theory, there is proof that some things in nature grow with this pattern, but only in perfect conditions.Ignored
DislikedA perfect way to test the true validity of Fibs would be to hack the platform retracement tools. I act and react to fibs, but if the tools were hacked to plot different retracement percentages, everyone would plot these and react to these phoney "Fibonacci numbers".Ignored
Disliked
Nothing magical about a quarter, a third and a half retracement of a move - but I guess it is easier to sell trading systems if you claim an association to magic numbers and Leonardo da VinciIgnored
Disliked'Big money' is a pretty vague term. A swing trading hedge fund is going to have a different time horizon from a bank hedging currency risk who will have a different time horizon to the SNB.Ignored
DislikedGator posted this awhile back in the eu thread..we may have already cracked A BIG bull wedge.
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Dislikedkeep seling unless you see an uptrend.
dont look for the uptrend while price is ovbiously in a downtrend.
trend continues again and again.
reversal happens only once in a while.
good trading!!Ignored
DislikedGator posted this awhile back in the eu thread..we may have already cracked A BIG bull wedge.
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DislikedLines, line and yet more lines.
They are like statistics. You can find a statistic to prove anything you want to.
Looking again at the chart you posted, there is a definite trendline from 2003 on the monthly chart.Ignored
DislikedThe people at Barclays Capital will be aware of these, they will have strategies and look at relationship in the market that involve these. If you ignore them you are ignoring important elements that the market movers figure in when they decide to push the buttonIgnored
Disliked
Do you feel that the longer time frame currency movements are irrelevant to trading decision?
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DislikedWhat I am saying here is do not forget the longer time frame.
The people at Barclays Capital will be aware of these, they will have strategies and look at relationship in the market that involve these. If you ignore them you are ignoring important elements that the market movers figure in when they decide to push the buttonIgnored
DislikedSaves getting shot up the a**e because you missed a 10 year trend that wasn't apparent on the tick chart.Ignored
DislikedAmatuer traders make alot of assumptions about what 'the big boys' are doing. They are almost always wrong. Usually because they are beginning with the flawed premise that big money is a homogenous group with the same aims and horizons.
Unless people understand who the market players are, what they do and how they do it - well, you are better off just looking at the damn chart.
When trading a 5m chart, I couldnt care less what the 10 year trend is. Let alone while trading a tick chart.
Same goes for an insto dealer trying to undercut the vwap...Ignored
DislikedAnyways, could someone pse PM me when this thread hits page 2500?
I'll do the usual thing when it does.Ignored
DislikedAnyways, could someone pse PM me when this thread hits page 2500?
I'll do the usual thing when it does.Ignored