EURUSD

Quoting DrDave

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Here is some fun reading while you're waiting for something to happen. Some dynamical systems are purely random, and others are completely deterministic, but fall somewhere in between — they’re blends of both. Imagine a twist on a random walk. You’re on a flower-lined path where the colors of the flowers are themselves random. The movement rule is: Coin flip comes up heads, move to the left; tails, move right. What is the sequence of colors of flowers that you visit? At first you might think that it’s random, so impossible to know. After all, the...

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Quoting Polimini

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{quote} I read a lot about this, chaos theory, random systems, the pendulum example. It seems there are cases where no matter what you do you can't predict them. But for stocks there is clear and evident patters even just looking at the charts, without any aid like indicators. This last couple of months are a good example, if you look at a daily chart it's very easy to identify patters and predict what is going to happen next (as long as the trend maintains obviously, it will eventually break the pattern), you could have easily make a killing by...

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Quoting DrDave

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{quote} I don't see that it so easy to predict what will happen with breaking out of that consolidation zone in this example. That is because H4 is in a down trend, so the up move, bracketed by the red rectangle, can be seen as EITHER a rally that is a retracement in the down trend, OR the start of a trend reversal. It is only after the start or the end of that upswing is breached with conviction can a decision be made as to which of the the trends is formed. Others may prefer to view this as a need to break one way or the other from these last...

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Quoting Polimini

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what do you guys think of this setup? {image}

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Quoting Polimini

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{quote} zoom out, watch the lines i put there. It's like taking candy from a baby. The way they repeat. I made an insane amount of money (for me) following this. Like i said if i zoom in i completely lose my focus, i'm bad at it. I have no idea how you guys can do it in smaller time frames or zoomed in, nothing really works for me. I can make money but it's peanuts, win lose, waste of time. If things keep the same patterns it's going down like a ton of bricks {image}

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Quoting Polimini

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{quote} zoom out, watch the lines i put there. It's like taking candy from a baby. The way they repeat. I made an insane amount of money (for me) following this. Like i said if i zoom in i completely lose my focus, i'm bad at it. I have no idea how you guys can do it in smaller time frames or zoomed in, nothing really works for me. I can make money but it's peanuts, win lose, waste of time. If things keep the same patterns it's going down like a ton of bricks {image}

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Quoting DrDave

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{quote} Of course it might continue down. But down trends must have rallies as well. So it is entirely feasible that your daily view can go into an up trend from there, even all the way up to your marked level. And it is smaller TFs that build the swings on larger TFs, so looking at smaller TFs gives you a look at how the "construction" is going. If the smaller TFs are showing up trends, then it is IMPOSSIBLE to be going down: Either larger TFs are also going up, or they are in rallies inside their down trends. And of course, if you choose a large...

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Quoting Polimini

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{quote} zoom out, watch the lines i put there. It's like taking candy from a baby. The way they repeat. I made an insane amount of money (for me) following this. Like i said if i zoom in i completely lose my focus, i'm bad at it. I have no idea how you guys can do it in smaller time frames or zoomed in, nothing really works for me. I can make money but it's peanuts, win lose, waste of time. If things keep the same patterns it's going down like a ton of bricks {image}

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Quoting dantpm

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{quote} So once you have your price points, what is the next part of your strategy?

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Quoting Polimini

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{quote} all i do is based on D1 or above, i may then look at the lower time frames obviously, i may use smaller charts but always with D1 or higher in mind, that's were i get the strategy. I never said i new what's going to happen, it can and certainly will eventually break away, i just replied to say yes it is predictable, and i showed you how predictable it is, it is in fact very predictable. It's in fact nothing like chaos. You obviously need confirmations, but even if you were just blindly following that pattern, you'd be in so much money you...

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Quoting Polimini

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{quote} assuming you looked at the chart it should be self explanatory, pick whatever works for you and wait for confirmation it goes one way or another. It's just support and resistance points, looking at it in D1 is not any different from them in the minute chats, the difference is in the minute charts you can't see the bigger picture. It's in my message history i called this last turns, i made my bet and waited for it to be a winner or not. Sometimes you may doubt a bit because it doesn't always stop in that exact price but that's what SL and...

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Quoting DrDave

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{quote} Of course those are essentially important S/R levels that you mark. So it is not at all surprising when in a very good trend, like the EURUSD is in, that the rallies don't breach the prior S (turned R), and that the last S will be broken and a new low formed. So, as you said, there are many pairs available, so there is likely to be more than one that is in a large TF trend that you can capitalize on.

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