EliteTrader posters in general totally trash and trashed TA consistently, calling everything to do with trendlines, drawing tools, Fibonacci total hogwash. hahaha, enjoyable stuff but dig this ............
since I don't have permission to post the link for the thread yet, just go there yourselves and type in poster name jazzsmn and go to page 5 and see how my step by step trendline drawing in advance of the breakout called the breakout that we are seeing for the last few days. I told the clowns that nobody can beat a kid with a pencil and ruler - they didn't believe me. All it took was TA 101, trendline on Vix with trendline on RSI(21) and Macd. TL on Macd called the breakout well in advance. Check it out for yourselves.
Love it when they say TA is hocus pocus. Love it so much it makes my day.
Caution: Not a single elitetrader has ever understood the golden ratio or the fibonacci ratio. Not a single one. Shocking? Yes.
They yawned when on April 30 in the same thread I said this .......................
"Creme de la creme from Vix is the projectile fired from extrapolating 2/6/18 top + 8/9/18 low + 12/24/18 top to give a precise Egypt pyramid fibo projection of 61.8% on April 17. The golden ratio once again gave fibo-trader the high odds likelihood of reversal. Of course niemand was or is awake to notice these things.
special note for today (May 7, 2019): see Macd histogram bar size, then look at the sheer vertical ascent of RSI(21) as it crosses the 60 mark.
Listened to this while Vix was breaking out ............................ and blasting thru' the 200-day ema. Life or Death, I'm up for either one in this play but thoroughly enjoying even Death.
🙂
