Is Technical analysis bullshit ?!

fibo_trader said:
Since this is IMHO a countertrend rally, I am ignoring TREND etiquette and will therefore think reversal if the purple 1H TL is taken out and then reconsider when Crude arrives at the 200-pd ema on 1H.


View attachment 272577
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Slam Dunk! on isolating the fact that Trend etiquette should be ignored and that all eyes would be placed on the Line in the Sand = the purple trendline. Look at the size of those crashing 1H bars!!!!

read my mention of the 200-pd ema on 1H. WE have just gotten there, baby. Arrived. :whistle::whistle::whistle::whistle:




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El Magnifico Fibo siempre esta en el junglo Lacondan


Behold the Home of Fibo:

The Lacandon Jungle (Spanish: Selva Lacandona) is an area of rainforest which stretches from Chiapas, Mexico, into Honduras and into the southern part of the Yucatán Peninsula.



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Look at the sheer magnificence of TA when Fibo is the driver. See where Crude has arrived on the 1H at the 200-pd ema? Now look at the 38.2% FIBO Golden ratio right there marked in yellow gold dashed line!!! that's an army of defenders waiting to support Crude.

But I don't give a fck

Job's done.

TA is a beautiful woman, my doll, my friend, my weaponry. Demonstration is complete!!!!!!!!!!!!!!


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272620
 
Is Technical analysis bullshit ?!

No, it ain't!

Review of the biggest strength of TA:
News Media, Business News Media like CNBC et al, public, pubic and everybody pretty much was saying Crude Oil going to skyrocket in a near straight line to $140, death for us at the pump in California where prices have already been at ripoff levels. Negative, negative, negative social mood scaring the sh*t out of everyone. The CROWD = HERD was in panic mode. Amidst this confusion and mob-thinking was Fibo calmly looking only at PRICE = TA

It worked as it always does except when Fibo fcks up by not sticking to basics!



272622
 
Wherever Crude goes, just trade it for cryin out loud without listening to News. If it goes to 140 stay Long if it crashes stay short. Just listen to only Price. That be TA

Applies to all instruments, any market, anywhere anytime even to a stock market in Mongolia. always works
 
Fibo's preparation for an ignominious DEATH now, its been long overdue ..................... it used to be the riders would come in at me, first 3, then 2, then 1 and then repeat. But I think now Don's hired professionals to take me out :) :) :) :whistle:

I'm expecting 3 to be waiting for me at the train station

 
fibo_trader said:
One of the suspect reasons to take profits if 1H TL is taken out is the wave grid of the rise from October 3. We have a perfect Wave Extension hit (not to be taken lightly).

See the red grid with the perfect hit at the right edge of screen at top. A perfect hit like that can produce a 5-wave small fractal move down which would be the signature of a reversal but it ain't happened yet.

So overall, the 1H trendline is the the stoploss line. If it holds and Price rockets higher then of course there is no reversal in sight until the higher Fibo levels.

My original feeling was that Crude should go to $70 but then one must give considerable respect to current resistance at the Gold Ratio shown in chart below. this is why I would bail if 1H got taken out

Reminder there is no trade here, this is a TA test because Crude is in the News

See daily below for formidable 61.8% resistance



View attachment 272578
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100s of years from now when historians review this they will read the quote and go ooh aah and just gawk at the prescience. Its all there. Every single nuance was taken into account esp. the perfect hit of the fibo Exntesion that it should not be taken lightly

Is there anybody like Fibo? No! Therefore he must be neutralized and banned. Yawn! Used to it already.

Almost all the time I get banned its because all I did was kiss the girl and the fellas did not like that.
 
Is Technical analysis bullshit ?!


NO!


Let's look at Gold 1H; Big move north in Gold, right? Everyone has seen/heard this on the News. I have not been in the Trade

This here is just another exampe of hownicely TA works. See my Gold chart 1H wave measurement grid in purple. Perfect hit at 423.6% and reversal. applies only on 1H chart. Just for demonstration about TA works or not.

I can't beat myself up for not being in the Long trade on Gold becasue I have a good reason: I was thrown off the scent by the triangle and wrong wave count, so after the breakout and I realized I missed the boat, I just said, fck it, disgusted that I missed it. But there you have it, I missed a nice trading move north in Gold. Will sh*it like this happen again? Do birds fly?


Here's the perfect TA of Gold on 1H. Sybaritic precision with aplomb.


272633
 
fibo_trader said:
Is Technical analysis bullshit ?!


NO!


Let's look at Gold 1H; Big move north in Gold, right? Everyone has seen/heard this on the News. I have not been in the Trade

This here is just another exampe of hownicely TA works. See my Gold chart 1H wave measurement grid in purple. Perfect hit at 423.6% and reversal. applies only on 1H chart. Just for demonstration about TA works or not.

I can't beat myself up for not being in the Long trade on Gold becasue I have a good reason: I was thrown off the scent by the triangle and wrong wave count, so after the breakout and I realized I missed the boat, I just said, fck it, disgusted that I missed it. But there you have it, I missed a nice trading move north in Gold. Will sh*it like this happen again? Do birds fly?


Here's the perfect TA of Gold on 1H. Sybaritic precision with aplomb.


View attachment 272633
Click to expand...

I think the reason this didn't work is you chose an arbitrary Fibonacci ratio of 423.6% for the high point and then tried to fit the other Fibonacci ratios to the chart.

In particular, the 61.8%, 100%, and 161.8% lines don't appear too significant, and the 0% line could have fit before or after the one on the chart.
 
Rufus_Leakey said:
I think the reason this didn't work is you chose an arbitrary Fibonacci ratio of 423.6% for the high point and then tried to fit the other Fibonacci ratios to the chart.

In particular, the 61.8%, 100%, and 161.8% lines don't appear too significant, and the 0% line could have fit before or after the one on the chart.
Click to expand...


Right-click/send to Outhouse
 
just wanted to show all you technical junkies something about fundamentals. I am building an algo that works off central bank statements and economic data. Take a look at the correlations and this is algo doesn't look at price. Still lots of work to do and you also need to consider the DXY that it is measuring against isn't reflected in the algo on terms of the basket. I will have an index like this for every economy and overlaying them to find digerging fundamentals for the best opportunities.

Fxx's macro algo adventure

Inspired by sharky and something I have been wanting to do. I am tight for time at the moment but want to start slowly researching what's needed and an overall plan. This isn't going to be a walk in the park. I am not looking to apply basic price rules. What I am looking to achieve is a...
www.trade2win.com
 
FXX said:
just wanted to show all you technical junkies something about fundamentals. I am building an algo that works off central bank statements and economic data. Take a look at the correlations and this is algo doesn't look at price. Still lots of work to do and you also need to consider the DXY that it is measuring against isn't reflected in the algo on terms of the basket. I will have an index like this for every economy and overlaying them to find digerging fundamentals for the best opportunities.

Fxx's macro algo adventure

Inspired by sharky and something I have been wanting to do. I am tight for time at the moment but want to start slowly researching what's needed and an overall plan. This isn't going to be a walk in the park. I am not looking to apply basic price rules. What I am looking to achieve is a...
www.trade2win.com
Click to expand...
Is it somehow reads and acts on Central Bank statements faster than quant firms? Where is your edge then?
 
hatemypips said:
Is it somehow reads and acts on Central Bank statements faster than quant firms? Where is your edge then?
Click to expand...

reads and acts on

Central Bank statements
Economic data
interest rates

I don't need to be faster than quants to have an edge
 
fibo_trader said:
Is Technical analysis bullshit ?!


NO!


Let's look at Gold 1H; Big move north in Gold, right? Everyone has seen/heard this on the News. I have not been in the Trade

This here is just another exampe of hownicely TA works. See my Gold chart 1H wave measurement grid in purple. Perfect hit at 423.6% and reversal. applies only on 1H chart. Just for demonstration about TA works or not.

I can't beat myself up for not being in the Long trade on Gold becasue I have a good reason: I was thrown off the scent by the triangle and wrong wave count, so after the breakout and I realized I missed the boat, I just said, fck it, disgusted that I missed it. But there you have it, I missed a nice trading move north in Gold. Will sh*it like this happen again? Do birds fly?


Here's the perfect TA of Gold on 1H. Sybaritic precision with aplomb.


View attachment 272633
Click to expand...



The Master aka Technical analysis continues to shine as Goldie follows the Fibo script to a T. After a reversal at 423.6$ she bounced again small on 361.8% and is now headed to 261.8% (basis red and purple grids)

Dig it baby. See that red trendline going from lower left rising upwards at a shallow angle? Pray tell, what Ed SEkota and trendriders are doing right now at this minute? They are sitting and waiting and wating and waiting for a wave low on 1H so they can draw their next trendline and therefore remain with the 1H trend. But it would never occur to them to TP at Fibo's Fibo levels thereby catching 90%++ of the move as opposed to their 33%.

No sir, that they will never be able to cognite on.

Reminder: Fibo is not in this Long trade. FLAT.


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If TA actually worked, all those bucketshops wouldn't give you them for free.

I love the way that bookies like paddy power always put tips up on twitter, they don't want you to win why would they help you
 
i would retitle this thread...

Is Technical analysis ALWAYS (ALL WAYS)bullshit?

(you do realize that algos operate entirely from TA, but their masters turn them on & off at propitious times):D

i would even argue that as soon as you open a chart, you are using TA because you are characterizing the data is a specific way :geek:
 
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Poor baby. Look what they did to baby when he said Technical Analysis - the crowd thought he went Muslim and bombs flew :):):)
Arab/Israeli conflict = < TA/FA conflict

Does technical analysis work or not?

I even got banned on another forum for asking this question. People who would normally tolerate a wide range of really diverse opinions suddenly went nuts and started throwing insults at me for simply asking. Was just so odd to see such a sudden extreme reaction to a seemingly routine question.
www.trade2win.com


Our secret is safe and will remain so for millions of years :whistle:

Why does technical analysis work on indices?

I know that sounds like an odd question but let me explain. As I understand it, technical analysis is basically a self fulfilling prophesy. Forgive me if I am wrong, but many many traders look at the same charts and see Support and Resistance levels, trend lines waiting to be broken, double...
www.trade2win.com


River Phoenix said it best in thread below, "The question, then, is not whether TA "works" or not but whether these people know what they're doing. That's an entirely different proposition."

Does Technical Analysis really work??

So does it really work?? Or is it just trying to find a reason to justify a trade?? For me, when I have spoken with Technicals they have always been rather vague about what might happen at a certain point in time.Sure ,they are all 100% accurate when they look at historical data,but what about...
www.trade2win.com


Technical analysis does not work as well as it used to

"Technical analysis doesn't work as well as it used to. As transaction costs decrease, available computing power increases and the number of market participants increases, one would expect markets to become increasingly efficient and thus it is not surprising that the technical analysis should...
www.trade2win.com
 
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