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Technical Analysis Fallacy

  • #16,941
  • Jun 23, 2010 9:26am Jun 23, 2010 9:26am
not actively trading just building long sword this ny session.
noted
e/u 2210-20 area.
au 8662
gu 4841
  • #16,942
  • Jun 23, 2010 9:54am Jun 23, 2010 9:54am
Quoting Fana
Here...
Fana, your picture is incorrect. Based on what you have drawn, you are in attack mode not rescue mode on ef. Rescue only is it retraces on ef. Please be careful with this stuff.
  • #16,943
  • Jun 23, 2010 9:57am Jun 23, 2010 9:57am
Quoting Fana
In your picture, e is under c.... this is can be bearish...
See, what the price do after what you think is impulse.... Speed...? What is the behaviour... Watch time, how quickly price moves.... and where are some zones of "obstruction". When you can see slow motion one direction and after some time quick big candle opposite direction.... So into your picture i wouldnt implement attack....
And i would like to add, that you have to be "elastic". because when not, you will be with mega ball somewhere..... These rules are not "predictions".......
Hi Fana,

I guess you're right.
fti gave 2 scenarios which I interpreted wrongly.
So what happens if the rescue at this level and it went wrong (price retraces further)?

Quote
- If wave EF retraces then i would be forced to invoke rescue 5 and I go into rescue mode.
- If EF did not do that then the instance of the attack would be in wave EF, and if the dance dictates that I am in alignment with the daily trend and both the short charts, It would require that I would attack full force 5, 11 before the break away r/s point( normally somewhere in the mid of AF's range, and would be drawing the attack total of 16 in batches as we test into the r/s depending on the volatility whereby the market is taking that r/s out.
Then...
  • #16,944
  • Jun 23, 2010 9:59am Jun 23, 2010 9:59am
Quoting GEfx
Fana, your picture is incorrect. Based on what you have drawn, you are in attack mode not rescue mode on ef. Rescue only is it retraces on ef. Please be careful with this stuff.
GEfx,

u have the picture for your description?

thanks.
  • #16,945
  • Jun 23, 2010 10:01am Jun 23, 2010 10:01am
Hi GEfx. Thank you. Please check this.... Is it now OK?
Attached Image (click to enlarge)
Click to Enlarge Name: sequence2.JPG Size: 19 KB
  • #16,946
  • Jun 23, 2010 10:02am Jun 23, 2010 10:02am
Quoting incrediblefx
GEfx,

u have the picture for your description?

thanks.
You have to have basis for attack and when rescue, very carefully. First is to protect your capitall.

About the chart. GEfx would makes it clear...
  • #16,947
  • Jun 23, 2010 10:09am Jun 23, 2010 10:09am
Quoting Fana
Hi GEfx. Thank you. Please check this.... Is it now OK?
No. Based on your picture, you are not in rescue but have flipped your postion to south. If you are going to rescue, wait for the south move to complete and then go into rescue.
  • #16,948
  • Jun 23, 2010 10:12am Jun 23, 2010 10:12am
Quoting GEfx
No. Based on your picture, you are not in rescue but have flipped your postion to south. If you are going to rescue, wait for the south move to complete and then go into rescue.
OK, so the rescue is meant in the same direction as the original trade.... I hope now its clear....
  • #16,949
  • Jun 23, 2010 10:18am Jun 23, 2010 10:18am
Taking a 2nd look I better pay attention.
looking at a weekly chart my eyes have to be open to 2227 an area of extra interest along with daily area of extra interest of 2210-20.
On my toes.
e/u weekly
2497
2227
1957
  • #16,950
  • Jun 23, 2010 10:56am Jun 23, 2010 10:56am
Quoting GEfx
No. Based on your picture, you are not in rescue but have flipped your postion to south. If you are going to rescue, wait for the south move to complete and then go into rescue.
thanks for clarification.
It's clear now.

But can we flip it as Fana's picture?
  • #16,951
  • Jun 23, 2010 11:27am Jun 23, 2010 11:27am
Quoting incrediblefx
thanks for clarification.
It's clear now.

But can we flip it as Fana's picture?
Sure, but you might want to close the long positions, too. Trading changes in trend can be difficult, and requires some skill. Caution is advised.
  • #16,952
  • Jun 23, 2010 12:23pm Jun 23, 2010 12:23pm
Quoting lilpip
eyes open uj 9027-34 area
gu 4811-4797
au 8662
eyes open area
gu 4909
au 8725
e/u 2266
uj 9022
  • #16,953
  • Edited 1:44pm Jun 23, 2010 1:34pm | Edited 1:44pm
eyes open 2323-44
au8785 and how 8735 responds
gu4955
  • #16,954
  • Jun 23, 2010 2:00pm Jun 23, 2010 2:00pm
a pretty good move what do we need to keep in mind for tomarrow ?

what is she telling us ?

any thoughts?
  • #16,955
  • Jun 23, 2010 2:02pm Jun 23, 2010 2:02pm
Thats qoestion for chief....
Quoting lilpip
a pretty good move what do we need to keep in mind for tomarrow ?

what is she telling us ?

any thoughts?
  • #16,956
  • Jun 23, 2010 2:18pm Jun 23, 2010 2:18pm
Quoting GEfx
Sure, but you might want to close the long positions, too. Trading changes in trend can be difficult, and requires some skill. Caution is advised.
I think these types of trading discussions are very helpful to those of us who are trying to put it all together.

For me I think I tend to get caught up in all the detail and in my efforts to preserve my capital, I spend a lot of time jumping in and out trying to avoid the need to rescue.

I made pips shorting the usd/jpy in today's session because I could see the possibility of a break of support at 89.98 coming up. I first entered at 90.50 and spent a lot of the time on the way down jumping in an out in case my reading of the move was incorrect. I guess I've learnt about the need to be careful to a fault and am now reluctant to ride it whilst price goes against me too much.

My current thoughts are that I shall try to strike a balance by being prepared to let the price move against me knowing that I can instigate a rescue and just see what unfolds.
With wisdom comes humility. With humility comes wisdom!
  • #16,957
  • Jun 23, 2010 2:42pm Jun 23, 2010 2:42pm
Quoting lilpip
a pretty good move what do we need to keep in mind for tomarrow ?

what is she telling us ?

any thoughts?
It tells us that many people cried today

this looks like a key reversal and an outside bar on the daily, am I right? But there is still time to the close of the day.

@ Fana
I just want to tell you that the good uderstanding of the market structure is very powerful. The skews come later as a complement to your trading. When you master the foundation (market structure), then you can practice the attacks and rescues.

I'm saying that because I think you are in the situation I was, before I understood fti's words on market structure. I was attempting attacks and rescues, and failed very badly sometimes, even if I pulled off the rescue it was very very sloppy.. Now I try to pick the best entries and exits, when I get very good at that, I'll think about skews.

Regards, MyTbo
  • #16,958
  • Edited 3:59pm Jun 23, 2010 2:48pm | Edited 3:59pm
Quoting MyTbo
It tells us that many people cried today

this looks like a key reversal and an outside bar on the daily, am I right? But there is still time to the close of the day.

@ Fana
I just want to tell you that the good uderstanding of the market structure is very powerful. The skews come later as a complement to your trading. When you master the foundation (market structure), then you can practice the attacks and rescues.

I'm saying that because I think you are in the situation I was, before I understood fti's words on market structure. I was...
Hi MyTbo. I already have it, i have yet some problems with its nomenclature but i understand.... The problem now is how to stabilize and finalyze.... That means a lot of work of course...
The most important thing, that i observe on myself is not to fall in some fallacy. Imho, the first year or years of trading should be "opened" for training and observing. I dont try (after some months) to be perfect. Nor accurate. The most important is obtaining confidence, experience...
-and to my contemporary Gann studies-squaring in my head! Everything else seems to me much easier than before i started with studying Gann calculator. Thats because i must understand all math around it... And i must rebuke some authors on internet. They are so undisciplined, that they produce really garbage... GARBAGE!!! increment 0,125 is somewhere 0,25, other enlight it totaly badly.... And they dont understand it. Gann square is pattern how i discovered. Not a map. And also maybe the planetary cycles. Not predictive, when Jupiter and.... But bigger pattern.
  • #16,959
  • Edited 4:16pm Jun 23, 2010 4:04pm | Edited 4:16pm
Quoting piphop
I think these types of trading discussions are very helpful to those of us who are trying to put it all together.

For me I think I tend to get caught up in all the detail and in my efforts to preserve my capital, I spend a lot of time jumping in and out trying to avoid the need to rescue.

I made pips shorting the usd/jpy in today's session because I could see the possibility of a break of support at 89.98 coming up. I first entered at 90.50 and spent a lot of the time on the way down jumping in an out in case my reading of the move was incorrect....
Never be afraid to take profits, but try to never be afraid, too. It takes time to get comfortable in watching PA develop. I watch for the pulses as they develop, then expect a squaring process to occur, and so on. I think there are two kinds of traders here: those who take profit after each pulse and just before the squaring process; and those who let trades ride, scaling in new and larger trades after each squaring is done (or at least close to that price -- lol). Either way is good as long as you know to take/protect profit. Either way, start the process with a small postition (if you are wrong, you are wrong small), and increase position size as you achieve success (if you are correct, you are correct big). Good trading.
  • #16,960
  • Jun 23, 2010 8:21pm Jun 23, 2010 8:21pm
eyes open
eu 2334-22 and watchin how 2284 responds
au 8756-61
uj 8984
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