Thanks, Monarch, good answer!
Clam61, I've revealed quite a few clues during this thread regarding my methodology. Besides EW Theory, I've developed my own proprietary method for determining points where the market is likely to reverse - call it the "Q" System. Call them support and resistance values, if you like. They are often very precise, but the complexity is quite high so the method is prone to error. Even as the inventor of the system I often make mistakes, but I am improving. The system works on different time frames, and when there is a convergence of values generated from different timeframes, then the probability of a reversal at that precise point is particularly high. The method is mathematical and geometrical, involving price movement, and is still undergoing research and development.
When the Q system and the Elliott Wave theory both point to a certain point, then the likelihood of a reversal at that point is very good. The difficulty is in accomplishing the task of performing both analyses accurately and in a timely fashion. When I've taken the time, and been in the right frame of mind, then the results have generally been very good.
I don't employ any technical indicators, because I'm too ignorant of them. I suspect that a person could employ technical indicators to advantage if they knew enough about the behavior of the market and what they were looking for. But I haven't reached that point yet. However, I would speculate that there is a characteristic early signature of a very strong movement developing. I'm sure alot of research has gone into this question already, so there are undoubtedly some experts out there who know how to detect a strong trend using technical indicators, as well as the characteristic signature of a strong trend coming to an end and reversing.
Clam61, I've revealed quite a few clues during this thread regarding my methodology. Besides EW Theory, I've developed my own proprietary method for determining points where the market is likely to reverse - call it the "Q" System. Call them support and resistance values, if you like. They are often very precise, but the complexity is quite high so the method is prone to error. Even as the inventor of the system I often make mistakes, but I am improving. The system works on different time frames, and when there is a convergence of values generated from different timeframes, then the probability of a reversal at that precise point is particularly high. The method is mathematical and geometrical, involving price movement, and is still undergoing research and development.
When the Q system and the Elliott Wave theory both point to a certain point, then the likelihood of a reversal at that point is very good. The difficulty is in accomplishing the task of performing both analyses accurately and in a timely fashion. When I've taken the time, and been in the right frame of mind, then the results have generally been very good.
I don't employ any technical indicators, because I'm too ignorant of them. I suspect that a person could employ technical indicators to advantage if they knew enough about the behavior of the market and what they were looking for. But I haven't reached that point yet. However, I would speculate that there is a characteristic early signature of a very strong movement developing. I'm sure alot of research has gone into this question already, so there are undoubtedly some experts out there who know how to detect a strong trend using technical indicators, as well as the characteristic signature of a strong trend coming to an end and reversing.