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  • #38,481
  • Aug 16, 2024 1:50am Aug 16, 2024 1:50am
Quoting pedro319
{quote} The rejection and divergence are not.
Valid point, me personally stopped using macs 10 years ago...delivered to many false signals...if you found a away to implement macd successfully into your strategy then great... that's why such a forum is great for exchange of views...
  • #38,482
  • Aug 16, 2024 1:52am Aug 16, 2024 1:52am
Quoting Dayi
{quote} Valid point, me personally stopped using macs 10 years ago...delivered to many false signals...if you found a away to implement macd successfully into your strategy then great... that's why such a forum is great for exchange of views...
I understand. For me indicators are useless for the most part. I only use these bits of macd which are leading, I don't use any lagging indicators at all.
We watch the charts from every angle so you don't have to!!
  • #38,483
  • Aug 16, 2024 2:01am Aug 16, 2024 2:01am
Quoting axecap
Quoting Silver-King
{quote} You seriously do not need to follow the news. We leave the speculation to those who don't know how to perform a TA. TA is the only thing one needs to make it in this business. Everything else is totally irrelevant. .[/quo Statements like this are misleading without context. If you are looking at an M15 chart and trading for 5 pips at a time then yes you are correct. If you are trading gold , taking positions for days or longer at a time and dont follow the news then you are nuts. It doesnt matter what your technicals
...
We have different opinions and that is completely normal. Both of us are probably partially right. You believe that TA works until something happens. I believe TA works even if something happens. Look, you either believe that the markets are irrational and without any order or you believe we are in a very controlled environment. These two are very different view points.
  • #38,484
  • Aug 16, 2024 2:02am Aug 16, 2024 2:02am
Quoting pedro319
{quote} I understand. For me indicators are useless for the most part. I only use these bits of macd which are leading, I don't use any lagging indicators at all.
Pedro could you please explain more. As I understand, MACD itself is a lagging indicator.
  • #38,485
  • Aug 16, 2024 2:09am Aug 16, 2024 2:09am
Quoting PushnPull
{quote} Pedro could you please explain more. As I understand, MACD itself is a lagging indicator.
Most indicators are lagging and Macd is no exception, however, Macd or other indicators divergence with price are a leading indicator.
Not a signal.
The same happen with the rejection in the case of Macd. There is one objective point where price tries to cross from bearish to bullish and vice versa.
We watch the charts from every angle so you don't have to!!
  • #38,486
  • Aug 16, 2024 2:12am Aug 16, 2024 2:12am
Quoting Fardeen1209
{quote} PArtially agree with your statement. Indeed, it is price we make/lose our money. But for price movement, there are multiple factors triggering the orders behind the scene. The "irrelevant" does not define the outcome of the trade, but it increases your confidence in the TA, since we both have seen many A+ setup failed, beacuse of other factors. Understanding and putting couple irrelevants together that would failed if stand-alone, increase your net probability to win the trade.
The thing about the patterns... I don't believe they are even a thing. I understand this sounds very "different" to say the least. I don't think it's the pattern that fails. I think it's our belief that there was any pattern to begin with that fails.

Of course, these are all my opinions that I share and they don't really mean shit to other people who have their own belief. It matters to me though. I think one should have their own belief in mind on how the markets work. Then, later on, if one starts doubting their own belief, then perhaps one can make changes to it. If not, perfect. Then, you have something strong to rely on. It's good to be open-minded, however there has to be a line drawn eventually. Being too open-minded means that one will never settle with some strong belief.
  • #38,487
  • Aug 16, 2024 2:13am Aug 16, 2024 2:13am
Quoting pedro319
{quote} Most indicators are lagging and Macd is no exception, however, Macd or other indicators divergence with price are a leading indicator. Not a signal. The same happen with the rejection in the case of Macd. There is one objective point where price tries to cross from bearish to bullish and vice versa.
Can you share some projections? After closing H1 and H4
  • #38,488
  • Aug 16, 2024 2:15am Aug 16, 2024 2:15am
Quoting Gadich
{quote} Can you share some projections? After closing H1 and H4
I have one on D1 indicating 2520
We watch the charts from every angle so you don't have to!!
  • #38,489
  • Aug 16, 2024 2:16am Aug 16, 2024 2:16am
Quoting Silver-King
{quote}{quote} We have different opinions and that is completely normal. Both of us are probably partially right. You believe that TA works until something happens. I believe TA works even if something happens. Look, you either believe that the markets are irrational and without any order or you believe we are in a very controlled environment. These two are very different view points.
Not just "something happens" . You stated "Everything else is totally irrelevant" with gold it certainly isnt.
My opinion is certainly not defined by your "either or" statement. Much of what we trade is controlled by MM, but even they are subject to geopolitical events oustide of their control......particularly with gold
Its all just one persons opinion
  • #38,490
  • Aug 16, 2024 2:17am Aug 16, 2024 2:17am
Quoting pedro319
{quote} Most indicators are lagging and Macd is no exception, however, Macd or other indicators divergence with price are a leading indicator. Not a signal. The same happen with the rejection in the case of Macd. There is one objective point where price tries to cross from bearish to bullish and vice versa.
People don't plan to lose. They lose because they don't plan.
  • #38,491
  • Aug 16, 2024 2:17am Aug 16, 2024 2:17am
You can structure ANY Indicator to be a leading Indicator

99.9% of traders misuse Indicators, but if you use them in the right circumstances they can lead price action and give you an edge

Divergence is one aspect, timing cycle turns is another

They are obviously not 100% accurate, but anything above 50% is good enough for me and my trading
  • #38,492
  • Aug 16, 2024 2:20am Aug 16, 2024 2:20am
Quoting Thtpro
You can structure ANY Indicator to be a leading Indicator 99.9% of traders misuse Indicators, but if you use them in the right circumstances they can lead price action and give you an edge Divergence is one aspect, timing cycle turns is another They are obviously not 100% accurate, but anything above 50% is good enough for me and my trading
In the case of macd rejection I like to see candlesticks that show that rejection, on the timeframe below or even on the same.
We watch the charts from every angle so you don't have to!!
  • #38,493
  • Aug 16, 2024 2:22am Aug 16, 2024 2:22am
Quoting pedro319
{quote} I have one on D1 indicating 2520
So previous plan for 2410 is crushed?
  • #38,494
  • Aug 16, 2024 2:24am Aug 16, 2024 2:24am
Quoting pedro319
{quote} In the case of macd rejection I like to see candlesticks that show that rejection, on the timeframe below or even on the same.
Yeah - if you blindly trade it, it might be iffy, but if you structure it with other reversal signals you can get it to work a treat
  • #38,495
  • Aug 16, 2024 2:25am Aug 16, 2024 2:25am
Is this the day the teddy bears have their picnic…

ready to flip it all if it is.

2528
Que Sera
  • #38,496
  • Aug 16, 2024 2:26am Aug 16, 2024 2:26am
Quoting Gadich
{quote} So previous plan for 2410 is crushed?
We are talking about different timeframes, you can have 2418 and still have 2520..
The chance of getting 2418 is diminishing by the hour.
Sometimes you also have failure of the reading. Nothing works all the time.
We watch the charts from every angle so you don't have to!!
  • #38,497
  • Aug 16, 2024 2:28am Aug 16, 2024 2:28am
Quoting axecap
{quote} Not just "something happens" . You stated "Everything else is totally irrelevant" with gold it certainly isnt. My opinion is certainly not defined by your "either or" statement. Much of what we trade is controlled by MM, but even they are subject to geopolitical events oustide of their control......particularly with gold
Okay, if you believe that the markets are controlled only up to a certain point, that's totally fine and is probably the truth. To some people when the price is going up or down they think about supply and demand, however to some people when the price is going up or down they think about something more precise than irrational supply and demand, something that precise that it hits the target in the exact pip.

However, why do you think the Gold is special and is different to let's say EUR/USD? Thanks!

Of course, it's uncomfortable to talk about the beliefs. Even more uncomfortable to change it or start seeing cracks in it (this isn't meant for you, but just something I thought about adding since it sounds good haha).
  • #38,498
  • Aug 16, 2024 2:31am Aug 16, 2024 2:31am
Quoting pedro319
{quote} What have you got?
Sorry about that, got some news last night and had to leave the computer for the day. Didnt mean to ignore you. Taking the rest of the weekend off, see everyone on Monday.
TechKnow
  • #38,499
  • Aug 16, 2024 2:35am Aug 16, 2024 2:35am
Quoting Techknow
{quote} Sorry about that, got some news last night and had to leave the computer for the day. Didnt mean to ignore you. Taking the rest of the weekend off, see everyone on Monday.
Hope they weren't bad news. Have a nice weekend.
We watch the charts from every angle so you don't have to!!
  • #38,500
  • Aug 16, 2024 2:39am Aug 16, 2024 2:39am
There's been no activity at 61/62. I think the price has to come down a bit before going up (if it will). I'm no trader though. Just follow charts.
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