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Market Predictability - Technical Signals

  • #21
  • Nov 9, 2011 10:29pm Nov 9, 2011 10:29pm
If it was possible to reliably trade off of technical signals then one's entries would still be delayed though, because the signal is based off of price action. right?
  • #22
  • Nov 9, 2011 10:40pm Nov 9, 2011 10:40pm
Quoting CindyXXXX
OK thanks for the reply but again... What exactly is the difference? I'm guessing you're talking about combining your T/A with current market sentiment? If that's the case I'm 100% with you, although sometimes you don't even need T/A, just price is enough. Anyway.
the difference is one is objective, the other is subjective. just jump into any active journal lately and you'll find plenty of subjective observations. "the bear flag is rising against the north star and is heading to a double top on the 4h and 3.259 hr trendline resistance. if it breaks through we'll get a double wedge dolphin pattern". as opposed to "price hasn't reached the value of n in the last 3 hours and the time is currently 4pm london time, and the last down leg in the previous hour moved 110 pips". this is objective.
Congratulations ScalaFX for coming out of the closet!
  • #23
  • Nov 9, 2011 10:57pm Nov 9, 2011 10:57pm
I saw in active trader's made note of 'bullish divergence' and 'stocastic crossover' on Eur/Chf after the SNB's 1.2 peg. lol
  • #24
  • Edited 11:38pm Nov 9, 2011 11:16pm | Edited 11:38pm
Quoting EmeraldEyes
If it was possible to reliably trade off of technical signals then one's entries would still be delayed though, because the signal is based off of price action. right?
Yeah depends how you look at it I guess, everyone's got their own view of what T/A is but looking at a chart you can see straight away the prices where the stops are likely to be at based on the support and resistance etc. You can also see and get an idea about what the herd is thinking. Another example, maybe you're trading an intraday chart but backed with the slow development of Daily or Weekly Price action, confluence is another one.
You could call it what you want Order flow, T/A, Technical signals, fundamental, sentiment whatever. To me it's all of the above. Determining a basic direction then using whatever skills you have to enter and exit at the right prices. A million ways to do this of course.

Quoting nubcake
the difference is one is objective, the other is subjective. just jump into any active journal lately and you'll find plenty of subjective observations. "the bear flag is rising against the north star and is heading to a double top on the 4h and 3.259 hr trendline resistance. if it breaks through we'll get a double wedge dolphin pattern". as opposed to "price hasn't reached the value of n in the last 3 hours and the time is currently 4pm london time, and the last down leg in the previous hour moved 110 pips". this is objective.
I woulda thought it would be the other way around with the chart patterns being objective (definable, mechanical) and the expectation of price to reach "n" quite subjective (open to interpretation). But yes I kinda guessed that's what he was getting at just interested in what exactly he means.
Time hides Nothing
  • #25
  • Nov 9, 2011 11:40pm Nov 9, 2011 11:40pm
yeah i can tell...

but i don't see how you come to the conclusion you made. i think you misread part of it too. i was saying that in the previous n minutes price DID move 110pips, not that there is an expectation of it moving in the future this amount. these things are measurable. where price is, has been, has not been, during certain times.... objective. they are what they are and there is no interpretation needed.

painting trend lines and fibs and gann octagons with the power of nine.... all cloud in the sky subjective picture drawing and interpretation. how you define s/r is not necessarily the same as anyone else.

anyways... yeah. another hot day.
Congratulations ScalaFX for coming out of the closet!
  • #26
  • Last Post: Nov 10, 2011 5:29am Nov 10, 2011 5:29am
Quoting nubcake
the difference is one is objective, the other is subjective. just jump into any active journal lately and you'll find plenty of subjective observations. "the bear flag is rising against the north star and is heading to a double top on the 4h and 3.259 hr trendline resistance. if it breaks through we'll get a double wedge dolphin pattern". as opposed to "price hasn't reached the value of n in the last 3 hours and the time is currently 4pm london time, and the last down leg in the previous hour moved 110 pips". this is objective.
you got what i was trying to say. nice dolphin pattern on the h1
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