I will give you a surprise

[DanPickUp]

Hi

""They are meant as zones : 5640, 5559, 5540 5510, 5494, 5483, 5454""


Around 5559 was the most valid zone today, as it even was a double bottom zone.

Now let me ask some serious questions :

How do we find out such very important zones and why do others not find out such high valid zones ?

Where is the secret or what is it what gives us the answers to see in advance such high level zones ?

Tc

DanPickUp

 

[DanPickUp]

Hi

A critical article you may like to think about it before I continue :

http://www.yourtradingcoach.com/Articles-Technical-Analysis/Fibonacci-Illusion.html

Tc

DanPickUp

 

[EagleOne]

Hi

A critical article you may like to think about it before I continue :

http://www.yourtradingcoach.com/Articles-Technical-Analysis/Fibonacci-Illusion.html

Tc

DanPickUp

Interesting article, Danny boy. But amateurish and subjective. Anyone practicing Fib lines can counter this article with 10 times more charts validating his point!

By the way, this line from that article - 'The real reason that price turned at this point, and the ONLY reason, is because of a shift in the supply / demand dynamics of the market. - is pure rhetoric. Spend a few minutes on the underlined words, and you will know the guy is trying to push his point of view using the words that are so common place now that you think you know what they mean - which actually you don't! Not even the best of the best economists in the world!

Main thing is, Fibonacci numbers (what traders modified into lines) are no illusion. If they seem illusion, then it is the lack of understanding about them, therefore, they are used so carelessly. Just like the way I see the word 'Psychology' being used so carelessly as if every human being is born with Ph.D in it! So, traders are just like modern godmen, who try to use every scientific bit and piece to impress others - most of all, themselves. Do you know there are some marketing thugs who are trying to push 'Quantum basis of Trading Trends' on the net?!

What can I say... All the years I poured into Physics are gone into dust!

Thing is, we are talking here about numbers that are the very basis of natural world that we see around. One needs practical training in any mathematical scientific discipline to know their beauty - and technique to use them.
I do use them in my trading. They help me a lot. So do Elliot waves, so do Gann angles.

Take care, buddy

 

[DanPickUp]

Hi EO

What about a little experience ?

Did you ever take a printed chart, a pen and a ruler. You then close your eyes and draw your lines or even with open eyes. You then bring that to your friend, which has no ideas about fib and what so ever and tell him, that this are the lines for today and you tell him to trade this lines.

What will he do and why will he do it ?

DanPickUp

 

[EagleOne]

Hi EO

What about a little experience ?

Did you ever take a printed chart, a pen and a ruler. You then close your eyes and draw your lines or even with open eyes. You then bring that to your friend, which has no ideas about fib and what so ever and tell him, that this are the lines for today and you tell him to trade this lines.

What will he do and why will he do it ?

DanPickUp

Fib lines are not randomly drawn lines as you are trying to say - that is the first point that you missed. Therefore, what follows next is of no meaning!

You are missing the point, buddy. You are trying to bring Fib numbers (one of the finest discoveries by human mind) to the level of a childish play of figuring out faces in the clouds!
All I say is, Fib numbers were not discovered for trading. Hell, they were not discovered for anything! They were just a DISCOVERY not an INVENTION!

So there is no room for debate on it!

By the way, if that friend happens to be me, and could see the beauty of Fib numbers in those lines, I will trade blindly. And why would I do that? Because, except us, humans, nothing else in Nature tells lies!

 

[DanPickUp]

Hi EO

I not can remember, that I told any thing about randomness or about mike mouse or about that fib is not useful. Prove it with any lines I until now posted in this thread .

Did I connect the little experience to your believes in fib or gann ? If so, where did I write that? Would this be the only reason to make such a little experience or is the world may a little bit bigger to have some more room for other thoughts?

DanPickUp

 

[EagleOne]

Hi EO

I not can remember, that I told any thing about randomness or about mike mouse or about that fib is not useful. Prove it with any lines I until now posted in this thread .

Did I connect the little experience to your believes in fib or gann ? If so, where did I write that? Would this be the only reason to make such a little experience or is the world may a little bit bigger to have some more room for other thoughts?

DanPickUp

Of course, I can prove! But not on this thread, because it will change the context of what is being discussed here. I will send you the material in the mail or will talk about it on the YM.

Take care, buddy. And get on with your SR thing. Looking forward to it!

 

[anuragmunjal]

Hi EO

What about a little experience ?

Did you ever take a printed chart, a pen and a ruler. You then close your eyes and draw your lines or even with open eyes. You then bring that to your friend, which has no ideas about fib and what so ever and tell him, that this are the lines for today and you tell him to trade this lines.

What will he do and why will he do it ?

DanPickUp

hi Dan

always wanted to do this experiment..
take a few A4 size sheet, leave margin on top and bottom. draw six or eight equidistant lines in the middle,and then superimpose 10 different charts on them.
never tried it but am sure I can get some intersting results..

regards

 

[DanPickUp]

hi Dan

always wanted to do this experiment..
take a few A4 size sheet, leave margin on top and bottom. draw six or eight equidistant lines in the middle,and then superimpose 10 different charts on them.
never tried it but am sure I can get some intersting results..

regards

Hi anuragmunjal

Yes, do it.

If you want to do it in a more serious way, then compare different times frame and try to figure out, what support and resistance levels they have.

Start for an example with the one year chart, then come down to the six month chart, then have a look at the three and monthly chart and go down in the steps you think it would make sense for your day trading time frame. I know, you are a very good day trader.

Figure out this S&R lines in each time frame and search for the strongest combination in this time frames. Write it down and this will be your zones you will look at it. And you can believe me, that is one way with out any math model to figure out S&R lines you want to trade.

If you want to include other S&R models, I strongly stay with what EagleOne has posted and by the way: Thank you EO for your engagement in this thread. You are one of the posters, which shows his mind in a direct way. I think some are not aware about who you really are, but this is some thing else.

Even than, you may miss interpreted my post. I am not against any Fib and Gann and other math model to define S&R lines on a chart. I also never ever posted that.

You should in the mean time known my way of posting and if I some times post some thing to provoke and try to make people think, it doe's not necessarily mean that I am with what I post !

By the way : Fib are great in currency trading , gann are great to check if we have a healthy trend

Tc

DanPickUp

 

[anuragmunjal]

Hi anuragmunjal

Yes, do it.

If you want to do it in a more serious way, then compare different times frame and try to figure out, what support and resistance levels they have.

Start for an example with the one year chart, then come down to the six month chart, then have a look at the three and monthly chart and go down in the steps you think it would make sense for your day trading time frame. I know, you are a very good day trader.

Figure out this S&R lines in each time frame and search for the strongest combination in this time frames. Write it down and this will be your zones you will look at it. And you can believe me, that is one way with out any math model to figure out S&R lines you want to trade.

If you want to include other S&R models, I strongly stay with what EagleOne has posted and by the way: Thank you EO for your engagement in this thread. You are one of the posters, which shows his mind in a direct way. I think some are not aware about who you really are, but this is some thing else.

Even than, you may miss interpreted my post. I am not against any Fib and Gann and other math model to define S&R lines on a chart. I also never ever posted that.

You should in the mean time known my way of posting and if I some times post some thing to provoke and try to make people think, it doe's not necessarily mean that I am with what I post !

By the way : Fib are great in currency trading , gann are great to check if we have a healthy trend

Tc

DanPickUp

hi Dan

hmm seems our two worlds are poles apart...but since you are happy the way you trade and I am happy the way I am

regards