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The Ultimate Fallacy in Technical Analysis 99 replies

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Technical Analysis Fallacy

Quoting priceaction1
at present some sitting duck may be at 1.3857-1.3880 area , so if price test these areas and come back to 13840-50 area in short time it will be stop sweeping. if price goes there and stay there and make new base line (equilibrium) than trade with respect to that point, one can not predict the direction so it can go down towards 1.3780-70 area. some one is sitting at that level, so I don't know the direction of next move but what I know is what I do if it goes up or down
Quoting priceaction1
I have to close it bcz going office, don't want to let the baby unattended. {image}
Good trade..........
Quoting priceaction1
I have to close it bcz going office, don't want to let the baby unattended. {image}
back from office, ohh what a move, the entry point was good?
don't predict direction, but dance with flow of water
Quoting priceaction1
{quote} back from office, ohh what a move, the entry point was good?
Was the positive divergence on the Commodity Channel Index an influence on you entry decision?

"...Let winning trades run" "Why take crumbs when...?" Closing one position and setting a B/E stop was not an option for you?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
yes CCI some time but not as a tool if it fit in over all picture. I obey fti teaching profit is profit even it is 0.5$ though to day my entry was good but I have no time to manage it so it is ok for peace of mind that no position.
don't predict direction, but dance with flow of water
for fti.

A new base line at 1.3855-70 area, is in progress, as up side move from 1.3821 to 1.3871 was not only stop sweeper. price stay there so the force of bulls are making there base at that area. as I says in my post

"at present some sitting duck may be at 1.3857-1.3880 area , so if price test these areas and come back to 13840-50 area in short time it will be stop sweeping. if price goes there and stay there and make new base line (equilibrium) than trade with respect to that point"

regards
don't predict direction, but dance with flow of water
news time so I close all positions
Total Trades:76Short Positions (won %):36 (97.22%)Long Positions (won %):40 (87.50%)
Profit Trades (% of total):70 (92.11%)Loss trades (% of total):6 (7.89%)
don't predict direction, but dance with flow of water
https://charts.mql5.com/4/560/eurusd...g-point-of.png
don't predict direction, but dance with flow of water
Quoting fti
{quote} private message to my children "be Good. Be the best you can be." regards
May you be in the best of health.
I am sending you a pvt message.

God bless.
priceaction1, you mention 5m but post 1m. Do not comprehend... I am TooSlow.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
fti
from JoeNY for FTI
SPC * Swollen PocketZ Crew!
Dear fti, through years you sayed as you shaw so sall ye reap,, there is large fields for your to reap. wishing you fast recovery
@fti.
don't predict direction, but dance with flow of water
for FTI...

Get well soon...missing your posts and your presence in this sphere.
dream come true!! close all and start new 100$ account. so any job for me!!!!

Deposit/Withdrawal:19.00Credit Facility:5.70
Closed Trade P/L:863.74


Gross Profit:1 196.24Gross Loss:332.50Total Net Profit:863.74
Profit Factor:3.60Expected Payoff:9.70
Absolute Drawdown:0.00Maximal Drawdown:107.00 (13.06%)Relative Drawdown:13.06% (107.00)

Total Trades:89Short Positions (won %):39 (94.87%)Long Positions (won %):50 (82.00%)
Profit Trades (% of total):78 (87.64%)Loss trades (% of total):11 (12.36%)
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement.gif Size: 6 KB
don't predict direction, but dance with flow of water
Quoting priceaction1
dream come true!! close all and start new 100$ account. so any job for me!!!! Deposit/Withdrawal:19.00Credit Facility:5.70 Closed Trade P/L:863.74 Gross Profit:1 196.24Gross Loss:332.50Total Net Profit:863.74 Profit Factor:3.60Expected Payoff:9.70 Absolute Drawdown:0.00Maximal Drawdown:107.00 (13.06%)Relative Drawdown:13.06% (107.00) Total Trades:89Short Positions (won %):39 (94.87%)Long Positions (won %):50 (82.00%) Profit Trades (% of total):78 (87.64%)Loss trades (% of total):11 (12.36%) {image}
Very nice!
Quoting priceaction1
dream come true!! close all and start new 100$ account. so any job for me!!!!
Well done priceaction1, If you don't mind please keep us posted of your progress - you have my interest.

I was happy with my results graph, but if I line my results up beside yours I would flat line. It seems I have much to improve.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 17 KB
today's trade if price move against me I will try rescue and close at B/E

https://charts.mql5.com/4/591/eurusd...g-point-of.png
don't predict direction, but dance with flow of water
for fti!!!
don't predict direction, but dance with flow of water
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