An interesting idea here. Could be used to improve strategies that fail due to change of market conditions.
k
https://m.youtube.com/watch?v=paiduNJNH1U
k
https://m.youtube.com/watch?v=paiduNJNH1U
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DislikedPrice decided to go down there, and has triggered the s/l for a small overall loss. Will be interesting to see whether this creates a larger-scale similar pattern tomorrow. kIgnored
DislikedI relied on s/r lines for quite some time now, but have always been nervous about it. It requires continuous monitoring of the charts. I think I may have found the time element that I was looking for, allowing me to make educated guesses when the bounces would happen. It is an indicator as old as the hills, and it appears to work: the pitchfork. See below an example of a pitchfork/support line cross in oil yesterday evening. Both were drawn ahead of the time of bounce. Cheers, k {image}Ignored
Disliked{quote} The pitchfork, basically an imaginary line on the screen (but drawn according to rules), becomes a price support. Random market my ass. k {image}Ignored
DislikedAn interesting metaphor, from the booklet The Egg of Columbus of G. Bayer (PDF easily found on the net). He postulates a standard pattern of growth and decay of stocks and commodities. He (with some humour) compares it to the course of the dinner (bull phase), and later relieving at the toilet (bear phase). Overall it looks like an Elliott wave pattern. {image}Ignored
DislikedAwaiting oil price rise, bored and programming new shiny indicators. {image}Ignored
Disliked{quote} Interesting to compare the Dow with the Bayer’s pattern. As far as I can see, we are in the “champagne” phase... (Some time ago I calculated the resistances in Dow to be 25000 and 29370.) Hope I am not correct on this. k {image}Ignored
Disliked{quote} Nice picture Parisboy ! Price on your picture is at left side (Y axis), and time on the bottom side (X axis), if i understand it correctly. Beginning of the image is just pure candle stick or bar chart, and you try to add angles lines and squares line on it. Not understand how do you choose the octave, i assume it is from Zero percent to 100 percent scaling, and divide it with 8 ?? If i look at Murrey Math calculation, there are spare -1/8 and -2/8 range at bottom, and +1/8 and +2/8 at top of the range, so total are 12 lines. Is it the reason...Ignored