OK, at the risk of having fire rained down upon me .. which is why I'm posting when no one is actually here...
To be fair to Scipionz, all of his previous posts were, in my opinion, quite harmless, if a little cryptic for me - not that my lack of understanding should be any measure whatsoever of the value of someone elses post. The issue under discussion probably started with this, not atypical, little nugget:
Price usualy bounce in between 61.8 correction making a triangle until the break.
We went a little under 61.8% of last leg up on daily and @ exctly 38.2% of the largest leg on weekly.
Now "logic" PA is a ..... correction of last leg down at 61.8% (1.5757).
It can be wrong... but that's why.
Now you know!
Take care!
ps: have a look
Edit: I expect correction at ... 61.8% max of last move up on 1h/4h @ 1.5465 if the low is broken then move up.
Who would have tunk!....
LOL!....
http://www.forexfactory.com/showthre...99#post3980299
.................. I must be the only one on my planet...........
posted 15hrs ago....
I take your point about these regular 'adjustments' already factoring themselves into the technical setup, but I can't see how. If I understand the rebalancing process correctly, it cannot be clear to those market participants that need to perform this process which way, and to what extent, they will need to rebalance until quite close to the event. If this is indeed a fair assessment, it is difficult to see how Scipionz's analysis, 15 hours before the event, could have been based on this unknowable quantity. Cloggies point was that it was not, and Scipionz maintained that in fact it was so because he predicted it, and thus the two great titans of technical analysis wailed and slashed at one another, and the many minions and supporters on both sides entered the fray and there was much bloodshed and wanton swearing. And I got a cut on my finger.
I personally think all that is needed is a decent dose of humility. It's ok to be wrong, and even more important to realise, objectively, when you have been. As for the severity of our incumbent and irascible troll, an attack by written word is probably the softest of blows one can possibly hope to receive.
Edit:
On reflection, humility isn't the only thing that is needed. It would be helpful, to those that are trying to understand the workings of great minds, if people tried to substantiate their trade setups. I understand this is a forum for simply sharing as well as educating, so posts with your entry point, SL and TP are interesting enough, but much more valuable is the thought process and supporting factors that led you to execute the trade (or make the prediction) in the first place. Calling out some numbers, and then successfully executing a trade based on them is excellent and good for your account balance, but of little informative value and certainly not much grounds for kudos. To me, anyway.
"Sell? Sell? No! I can't Sell! I'll Sell When I'm Dead"
