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  • #899,121
  • May 19, 2014 11:08am May 19, 2014 11:08am
Quoting godim
{quote} Look here my friend Davit. I give you if you want you take, if you do not. The decision is entirely yours. In this case, my TL revealed truth. Price back. We can expect to close at around 3718.
Ho Godim
I am discussing more about TL in terms of price predictability.To me it has no edge.
Price moves by buyers and sellers=order flow.One sides wins price moves.It does not move because of TL.It moves because of order flow.
They are so many failed TL trades that one can go bankrupt assuming its reliability.
As example on weekly TL is broken.We should be looking for shorts technically but we don't know which way order flow will go (big money moving price may have different view).We just don't know.
Regards
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #899,122
  • May 19, 2014 11:11am May 19, 2014 11:11am
Quoting Davit
{quote} No offense man.Is it any different then looking at Goat entrails? Like Ancient Greeks did?
friend -- may be u are a fundamental trader -- and you may be right -- forex is not sure for any analysis -- we can only have a probability with any type of analysis but it does not mean that technical and chart patterns worth nothing -- sometime it move as per fundamental analysis and sometime as per technical -- if u say this is not a good way of technical analysis -- u may be right again -- but having many ways of analysis is always better !!
rules are different here. Less risk, more profit .. !!
  • #899,123
  • May 19, 2014 11:11am May 19, 2014 11:11am
So how many people got faked out by that pop upward?
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #899,124
  • May 19, 2014 11:17am May 19, 2014 11:17am
Quoting Davit
{quote} Ho Godim I am discussing more about TL in terms of price predictability.To me it has no edge. Price moves by buyers and sellers=order flow.One sides wins price moves.It does not move because of TL.It moves because of order flow. They are so many failed TL trades that one can go bankrupt assuming its reliability. Regards
I'll have to show this though Davit. TL's and past history a guarantee? Not really. BUT here's a monthly I drew as a newbie in 2009 (Sorry folks it's GU) No idea why I did but I never changed it. I've also never paid attention to it, until now. It became....:nerd:....interesting to me again. November 1998 high, to August 2009 high.

Same monthly zoomed out and in. Arrow shows TL. Odd...no? Coincidence? You tell me.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusdmonthly_zoom.png Size: 50 KB
Ghost Rider - WWTBMD?
  • #899,125
  • May 19, 2014 11:21am May 19, 2014 11:21am
Quoting FxTrdr
{quote} friend -- may be u are a fundamental trader -- and you may be right -- forex is not sure for any analysis -- we can only have a probability with any type of analysis but it does not mean that technical and chart patterns worth nothing -- sometime it move as per fundamental analysis and sometime as per technical -- if u say this is not a good way of technical analysis -- u may be right again -- but having many ways of analysis is always better !!
I was referring to Gann lines
As far as what I read on Gann there is no conclusive evidence he made his money what everyone assumes.
System any system must be tested and proved profitability without this it is no different then reading coffee cup,throwing darts,reading entrails.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #899,126
  • May 19, 2014 11:24am May 19, 2014 11:24am
Quoting Davit
{quote} Ho Godim I am discussing more about TL in terms of price predictability.To me it has no edge. Price moves by buyers and sellers=order flow.One sides wins price moves.It does not move because of TL.It moves because of order flow. They are so many failed TL trades that one can go bankrupt assuming its reliability. As example on weekly TL is broken.We should be looking for shorts technically but we don't know which way order flow will go (big money moving price may have different view).We just don't know. Regards {image}
Davit, English is not my mother tongue. I work with Google translator. You know.
It is very difficult for me to change your thinking. Of anyone. Trader must see what the market wants. Gator sees this. It does not track where and how many orders there.
You have to admit that there are opinions that are different from yours. Then the discussion will be useful.
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #899,127
  • May 19, 2014 11:27am May 19, 2014 11:27am
I have added first short at EU-H1 ( CLOSE OF LAST CANDLE) 1.3715. I will wait for pink circle appear on semafor. i can't post chart bcz i m at work.
Love for all; Hatred for none.
  • #899,128
  • May 19, 2014 11:27am May 19, 2014 11:27am
Quoting albchr
{quote} I'll have to show this though Davit. TL's and past history a guarantee? Not really. BUT here's a monthly I drew as a newbie in 2009 (Sorry folks it's GU) No idea why I did but I never changed it. I've also never paid attention to it, until now. It became....:nerd:....interesting to me again. November 1998 high, to August 2009 high. Same monthly zoomed out and in. Arrow shows TL. Odd...no? Coincidence? You tell me. {image} {image}
Hi Chris
TL did fail massively in 2003 and 2006 over 1k pips.Please don't overlook that as well.
REgards
In trading, you have to be defensive and aggressive at the same time
  • #899,129
  • May 19, 2014 11:31am May 19, 2014 11:31am
Quoting Davit
{quote} I placed my limit shorts starting from 2x3750 2x3780 2x38 for now. idea is since X is unknown factor (price behavior) I am giving myself max opportunity to be in trade should price resume down trade We may not see 3832 for months to come. EZ elections MAY 22-25th. This could be why there is very little volume regards
3832 will take out a bunch of shorts,i am never certain about how high she will go. but that my plan until further notice as the main trend up till we get to 3832 or make a new low.. even if we do make a new low i will still long probably at/near 3636, and 3832 will still be a target before 35xx i posted... gotta run later
those who can, do. those who cant, talk about those who can
  • #899,130
  • May 19, 2014 11:31am May 19, 2014 11:31am
US bonds yields higher...bond buying is probably coming to an end...fingers crossed...IMF interestingly suggested that Germany is getting stronger. I will keep those for the LT.
  • #899,131
  • May 19, 2014 11:32am May 19, 2014 11:32am
Quoting godim
{quote} Davit, English is not my mother tongue. I work with Google translator. You know. It is very difficult for me to change your thinking. Of anyone. Trader must see what the market wants. Gator sees this. It does not track where and how many orders there. You have to admit that there are opinions that are different from yours. Then the discussion will be useful.
Godim
I am always open to other opinions and methods.I am however skeptical of Gann theory in general specially applying to fast moving market like FX
I am yet to see someone showing their equity curve and saying I took all my trades on Gann principles.
Gann destroyed his charts and methodology before his death.There is lot of pseudo BS after his death mostly pure speculation.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #899,132
  • May 19, 2014 11:35am May 19, 2014 11:35am
Quoting Davit
{quote} Hi Chris TL did fail massively in 2003 and 2006 over 1k pips.Please don't overlook that as well. REgards
I didn't buddy. I just found it interesting that last month's high came within 2 pips of it after so many years.

I use TL's all the time (mostly Daily and up) as a gauge. Drawn properly, they work quite well as a heads up to price moves for me. I also don't subscribe to the notion that once broken, they are no longer any good. I have seen them respected time and time again as price returns to it in the future. We all have our ways brother.
Ghost Rider - WWTBMD?
  • #899,133
  • May 19, 2014 11:40am May 19, 2014 11:40am
Quoting albchr
{quote} I didn't buddy. I just found it interesting that last month's high came within 2 pips of it after so many years. I use TL's all the time (mostly Daily and up) as a gauge. Drawn properly, they work quite well as a heads up to price moves for me. I also don't subscribe to the notion that once broken, they are no longer any good. I have seen them respected time and time again as price returns to it in the future. We all have our ways brother.
Please watch this 25year experience Veteran trader
Inserted Video

Start from 8 min mark
Take what you can.Regards
In trading, you have to be defensive and aggressive at the same time
  • #899,134
  • May 19, 2014 11:47am May 19, 2014 11:47am
Quoting ScalpLikeMe
So how many people got faked out by that pop upward?
It wasn't a fakeout. It will not drop so easily
  • #899,135
  • May 19, 2014 11:47am May 19, 2014 11:47am
Quoting Davit
{quote} Godim I am always open to other opinions and methods.I am however skeptical of Gann theory in general specially applying to fast moving market like FX I am yet to see someone showing their equity curve and saying I took all my trades on Gann principles. Gann destroyed his charts and methodology before his death.There is lot of pseudo BS after his death mostly pure speculation. Regards
Davit, so I understand what is written. Because I could not understand the method of Gann, then no one can understand. Something like that. Nobody makes Davit, adopt methods of Gann. Gann method exists outside and independently of the opinion of Davit.
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #899,136
  • May 19, 2014 11:50am May 19, 2014 11:50am
good looking lines
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  • #899,137
  • May 19, 2014 11:54am May 19, 2014 11:54am
Quoting Davit
{quote} Please watch this 25year experience Veteran trader http://www.youtube.com/watch?v=S7H-MVPlGJw Start from 8 min mark Take what you can.Regards
whats his avg compounded for those 25?
swing it!
  • #899,138
  • May 19, 2014 11:54am May 19, 2014 11:54am
Quoting Davit
{quote} Ho Godim I am discussing more about TL in terms of price predictability.To me it has no edge. Price moves by buyers and sellers=order flow.One sides wins price moves.It does not move because of TL.It moves because of order flow. They are so many failed TL trades that one can go bankrupt assuming its reliability. As example on weekly TL is broken.We should be looking for shorts technically but we don't know which way order flow will go (big money moving price may have different view).We just don't know. Regards {image}
I disagree a little bit. traders do look carefully at trendline for swing trades. Most times trendline do not break, and bounces happen near there. When a trendline is broken, that is a hint for an imminent trend change. It may be a complete trend change, or it may be a new trend at different trend slope.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #899,139
  • May 19, 2014 11:56am May 19, 2014 11:56am
Quoting ScalpLikeMe
So how many people got faked out by that pop upward?
Nope , simple price action trading said no
Attached Image (click to enlarge)
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  • #899,140
  • May 19, 2014 12:00pm May 19, 2014 12:00pm
Quoting Davit
{quote} Please watch this 25year experience Veteran trader http://www.youtube.com/watch?v=S7H-MVPlGJw Start from 8 min mark Take what you can.Regards
LOL... Ok brother... ....
Ghost Rider - WWTBMD?
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