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Technical Analysis Fallacy

  • #61,321
  • Apr 9, 2020 10:47am Apr 9, 2020 10:47am
Quoting protuberanec
{quote} Thanks fti, just dont understand why I start from abc, I thought I must start from recognise 1wave then wait for correction and jump in second impulse wave. I think all problems with understanding cause different methodology of caunt like dbrown said.
As far as i understand from FTI's postings,

We count a or 1 first ( opposite to decisive move)
then we count 2,3 or bc..
now this bc can make various pattern, can have continuation or congestion ( various form, learning them now)
we need to find wave 3 if it is there to find, else keep counting. ( i am still figuring out).
if we have found 3, find 4 if it is there. FTI says that wave 4 can cut into high of 1, if that's the case we may see solid wave 5 (very profitable)
once counted till 5. its over.

I am still working on correct count. FTI said, we should know basic wave theory, and knowing which wave we are riding help seeing market form and strategies. I am not there yet, to comment on it further. have no exp, never counted.
Regards,
Ant
  • #61,322
  • Apr 9, 2020 11:05am Apr 9, 2020 11:05am
Quoting antmindset
{quote} As far as i understand from FTI's postings, We count a or 1 first ( opposite to decisive move) then we count 2,3 or bc.. now this bc can make various pattern, can have continuation or congestion ( various form, learning them now) we need to find wave 3 if it is there to find, else keep counting. ( i am still figuring out). if we have found 3, find 4 if it is there. FTI says that wave 4 can cut into high of 1, if that's the case we may see solid wave 5 (very profitable) once counted till 5. its over. I am still working on correct count. FTI...
Thanks. if you have some pictures can you explain on it.
  • #61,323
  • Edited 11:30am Apr 9, 2020 11:08am | Edited 11:30am
Quoting antmindset
{quote} As far as i understand from FTI's postings,............have no exp, never counted. Regards, Ant
Hahahahaha
According to kamlsuitra, i suppose to put hand cover it.
I no exp, never putted hand. Virgin olive oil.
Hahahahahaha.
So i just telling you, must putted hand in.
According to fti.
Hahahahahaha.
According to taf put foot in.
According to ant have password.
Who ghost there?
Password.
Lets ghost down here.
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  • #61,324
  • Apr 9, 2020 11:33am Apr 9, 2020 11:33am
Quoting fti
{quote} Hahahahaha According to kamlsuitra, i suppose to put hand cover it. I no exp, never putted hand. Virgin olive oil. Hahahahahaha. So i just telling you, must putted hand in. According to fti. Hahahahahaha. According to taf put foot in. According to ant have password. Who ghost there? Password. Lets ghost down here. https://youtu.be/AV-0Nfslshs https://youtu.be/hBFfVQF-KQ0
Feeling like this guy. If anyone has passowrd, i tell the name of guy who shot the arrow.
Attached Image
  • #61,325
  • Apr 9, 2020 11:38am Apr 9, 2020 11:38am
Quoting antmindset
{quote} Feeling like this guy. If anyone has passowrd, i tell the name of guy who shot the arrow. {image}
Hahahahahaha
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Inserted Video

Regards
  • #61,326
  • Edited 12:50pm Apr 9, 2020 12:26pm | Edited 12:50pm
9111.90

writing on the wall?
  • #61,327
  • Apr 9, 2020 12:33pm Apr 9, 2020 12:33pm
Quoting protuberanec
{quote} Thanks fti, just dont understand why I start from abc, I thought I must start from recognise 1wave then wait for correction and jump in second impulse wave. I think all problems with understanding cause different methodology of caunt like dbrown said.

Im not sure if this is correct but the way I see it is you find abc and if cd is deep and starts overlapping b wave . its most likely continuation of trend. if wave cd stalls above wave A and starts moving in the direnction of A its probably wave 5 of trend move...
4 is married to 5 and you attack in direction of wave 5.
Attached Image (click to enlarge)
Click to Enlarge Name: wave count.png Size: 25 KB
  • #61,328
  • Apr 9, 2020 1:52pm Apr 9, 2020 1:52pm
https://www.forexfactory.com/showthr...59#post1834759
-be careful about what you allow to be put in your mind-
  • #61,329
  • Apr 9, 2020 2:17pm Apr 9, 2020 2:17pm
Quoting phil13
https://www.forexfactory.com/showthr...59#post1834759
was reading this last night and felt this was the major takeaway from this post

Quote
This the reasons for me suggesting that Elliot studies are within the scope of what I use. But because of superior analytical robustness and versatility in bar analysis compared to the Elliott wave predictive curve fits, it has superceded the Eilliott wave studies usefulness, for profession use. This being the reason that I would recommend it for general knowledge, than for its usefulness.

nevertheless, I am going down the rabbit hole. not searching for something that isnt there. just hoping to deepen my knowledge of wave structure
  • #61,330
  • Apr 9, 2020 2:24pm Apr 9, 2020 2:24pm
Hi dbrown101

may i also suggest you and everyone else also look at the links also listed in this post, for a better picture on the matter being discussed. maybe you have but just for anyone who has not.

one thing i have found while trading.... unless YOU test run it live your mind will never know.

regards

Phil.
-be careful about what you allow to be put in your mind-
  • #61,331
  • Apr 9, 2020 2:55pm Apr 9, 2020 2:55pm
Corona virus vs jesus.
Poor prawns.
https://www.facebook.com/25891719092...0/?d=null&vh=e
  • #61,332
  • Apr 9, 2020 3:00pm Apr 9, 2020 3:00pm
Quoting phil13
Hi dbrown101 may i also suggest you and everyone else also look at the links also listed in this post, for a better picture on the matter being discussed. maybe you have but just for anyone who has not. one thing i have found while trading.... unless YOU test run it live your mind will never know. regards Phil.
Thanks phil, do you use Elliot waves in your trading? I dont see it in your thread.
  • #61,333
  • Apr 9, 2020 3:16pm Apr 9, 2020 3:16pm
Quoting phil13
Hi dbrown101 may i also suggest you and everyone else also look at the links also listed in this post, for a better picture on the matter being discussed. maybe you have but just for anyone who has not. one thing i have found while trading.... unless YOU test run it live your mind will never know. regards Phil.
Thank you phil. I have read those. but will re-read for better understanding.


for everyone,
I was just looking through some books that I have and John hills "Stock and commodity trend trading by advanced technical analysis" and also "scientific interpretations of bar charts" (mentioned as a must read in this thread) both contain wave analysis concerning EWT that is pretty thorough.
  • #61,334
  • Apr 9, 2020 3:38pm Apr 9, 2020 3:38pm
Hi protuberanec

I have touched on it in my thread, I also sometimes mark it in my charts but not unless I think it has any clues to something, I do not do a strict and rigid count, to be honest maybe I do not fully understand it ??? and from what I read here I am not sure I need a very deep understanding of it, I use ' Newtons Law/ Dow theory' in the count better for me than a more than a set guide of rules that are hard for me to follow and have been so altered so that who knows what it is really supposed to be like until after the fact when we can then curve fit any analysis we like to the move, anyone who knows me knows that i dislike backward/left side analysis.

If you throw a ball up high as it loses momentum, it will slow then start to fall, look at the red and green lines in my charts, again even like any analysis to borrow a phrase from our friend FTI's first post.....


"That you can lie to some people all the time, all people some of the time, but not to all people, all the time."
Similarly, theses studies can work in some market conditions all the time, all market conditions some of the time, but not all market conditions all of the time."

Think about what I've just quoted very carefully.

The problem with some people and some professional Technical Analyst today ( being a certified Technical Analyst myself ) is that they use the Technical studies as if, it were the "Holy Grail" of trading & their pathway to the millions.


I put it to you, that, to consider your Technical Studies to be more than what they are is a "fallacy" in trading the markets, not so unlike martingale gamblers' fallacy. It can lead you to a very dark place.

What many traders do not know, or may fail to recognise, is that your success in taming the markets, is comprised of a mix of ingredients. Not so unlike in baking cakes.
I suggest three very important ingredients. One is " Market Structure ", the other is "YOU", then Capitalisation. Of course there are many more components, for the moment these seems of dominant importance, in my humble opinion.

I hope you will think about what I've said very carefully.''


Regards

Phil.

ps.. off to bed now.
-be careful about what you allow to be put in your mind-
  • #61,335
  • Apr 9, 2020 10:24pm Apr 9, 2020 10:24pm
Quoting dbrown101
{quote} Im not sure if this is correct but the way I see it is you find abc and if cd is deep and starts overlapping b wave . its most likely continuation of trend. if wave cd stalls above wave A and starts moving in the direnction of A its probably wave 5 of trend move... 4 is married to 5 and you attack in direction of wave 5. {image}
Thanks understand now
  • #61,336
  • Apr 9, 2020 10:28pm Apr 9, 2020 10:28pm
Quoting protuberanec
{quote} Thanks understand now
This is just my thoughts on it. I’m unsure if it’s correct or not. I’m still in cacoon phase
  • #61,337
  • Apr 10, 2020 3:31am Apr 10, 2020 3:31am
Quoting fti
Corona virus vs jesus. Poor prawns. https://www.facebook.com/25891719092...0/?d=null&vh=e
in the name of our lord savior, jesus christ. amen
THE ALL is MIND; The Universe is Mental
  • #61,338
  • Apr 10, 2020 3:33am Apr 10, 2020 3:33am
BBC News: Coronavirus: New York using mass graves amid outbreak
I saw this on the BBC and thought you should see it:
Coronavirus: New York using mass graves amid outbreak - https://www.bbc.co.uk/news/world-us-canada-52241221
  • #61,339
  • Apr 10, 2020 3:36am Apr 10, 2020 3:36am
Wow 3 or 4th day?

BBC News: Coronavirus: Boris Johnson out of intensive care but remains in hospital
I saw this on the BBC and thought you should see it:
Coronavirus: Boris Johnson out of intensive care but remains in hospital - https://www.bbc.co.uk/news/uk-politics-52238276
  • #61,340
  • Edited 3:58am Apr 10, 2020 3:40am | Edited 3:58am
Free social practisesc s wrong.
Fucking around is wrong.
Socialist ways is wrong.
Bully other by big grouping is wrong.
Gang is wrong.
Party is wrong.
2 is company, 3some is gang.
The braves, stands alone.
Cowards need gangs.

Change the world or it will wipe you off the crust to underground world.

Change now

Live all my life with people, made me nearly died and came back multiple times.
Now lived 10+years stay home. Still living. No necessity to die.
I learned in icu about human lies and cowardery.
You can have your gangs.
But you die alone.

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Change or u WILL die.
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