Dazzdude, based on the above chart, expect some pullback in April till August, then a continuation of trend?
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Hi sher. A pullback, yes. for how long, no idea.
The previous chart posted showed seasonal lows for futures (highs for spot). That is where we are at now.
Seasonal patterns are very prone to failure. However, they can add some value when combined with other data. For example, what happens when commercial data shows accumlation leading up to the low (spot high)?
Looking at the chart, this occurred in 2005, 2006, 2009, 2010 and 2011. In those years, the seasonal pattern held true (in that a low was formed - 2005 saw declines, but there was clearly a low right on time and the next couple of weeks rallied). That is 5 from 5. We have this setup in 2012. Is it random luck or a bias?
It's not a trade. Its only a potential bias that says the seasonal (spot) high is possible. However, it does not mean reversal, it could easy just mean pullback.
If your technical analysis (which is much more important) supports it, then good and well. It adds a reason to hold a bias. If your technial analysis does not, it can ignored. I just find it interesting is all. It has nothing to do with the thread though, so its not something to go into further.
In the near future I will be interviewing WMD and would like to invite thread posters to ask Questions. Post your Questions here and I'll let you know when the interview is ready to air.
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Hi Fx_007,
My question would be, what is needed to make the transition from being a good chartist to being a good trader?
I have to say that your trading patterns are not only reliable, and precise, but even more important than that, I can now take almost any chart and overlay your patterns and stuctures on them and it shows with (sometimes freakish precision) why price moved the way it did and why it turned at the levels it did.
Charts used to look so random and chaotic to me, but now they look quite well structured, and have a definate order to them. I also appreciate now your concept of "skim-reading" charts (like a speed reader would flick through a book) and after a while, the patterns and structures jump out and you pinch yourself wondering why you never seen it before.
Thanks for everything you have shared in the site. I have looked at so much stuff since 2001, so many books, forums, courses and groups, but nothing compares to what you do.
ps.. You showed the swissy and eur "W" and "M" in your video. I had those marked up ready for the short (eur) and long (swissy) weeks ago (yes, like you advised) ... and it played out almost pip perfect.. like they usually do.
I saved a picture at the time for my WMD pattern book. Here is it... (I also done one for swissy)
Care to exlain what RDR, FDF, BCB, flip are all about?
Thanks
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Hi BillGates,
BCB stands for Boost-Consolidate-Boost and is discussed earlier in this thread, you will find it if you look. The other ones are not dicussed in this thread, so best that I not go into them.
What I can tell you is that Will has created a pattern book of WMD (deadly) trading structures/patterns. The list of patterns is quite extensive. He has introduced some of these into his site, I can only assume he will introduce more over time. Some may never get realeased as they are too deadly (though you never know, fingers crossed).
Each one has a training video that goes anywhere from 20 minutes to 90 minutes, complete with the theory, historical, and live examples. Some also include how to know when they will fail, so you can trade in the opposite direction to the pattern, anticipating failure.
I am also aware that Will is engaging a developer to build a "pattern scanner" to scan the market real time for some of these patterns with intention of providing automated alerts as they are occur (I think from a 5min time up). Subscribers can trade them if they so wish. I would consider that to be quite a significant investment in time and money (good developers do not come cheap), but will provide something rather special and unique to the market. I am quite excited about this.
There is one thing seeing the pattern and one thing executing the trade. I was so close of entering the trade but opted for another one instead (which then ended up loosing)
Trading with Deadly Accuracy
