Here are some more price potentials based on pattern recognition. For bull and bears.
You win, you lose. All else is history. The future does not exist.
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #29,307
- Nov 28, 2013 6:34am Nov 28, 2013 6:34am
- | Joined Oct 2013 | Status: You missed it. So what! Try again. | 625 Posts
This is gold on a 1 hour chart demonstrating the use of Fib time zones. Generally speaking you take the measurement from the most recent upswing high to the next lowest low immediately before the market moves up. The bubbles show areas of symmetry that are remarkably near to the levels. This is not made up levels. I only added a tendency into the names of the levels when market reaches those levels.
A comination of fib prices is used too... Amazingly the scale is irrelevant, the levels are fairly indicative of support and resistance.
A comination of fib prices is used too... Amazingly the scale is irrelevant, the levels are fairly indicative of support and resistance.
You win, you lose. All else is history. The future does not exist.
- #29,312
- Nov 28, 2013 6:55am Nov 28, 2013 6:55am
- | Joined Oct 2013 | Status: You missed it. So what! Try again. | 625 Posts
This next image is known as the Z-scope analysis described to me by another trader who raised the issue of geometric formations and the symmetry of fibonacci ratios in geometrical formations. It is a new concept that is being developed and tested by him. There is a very intersting alignment of sentiment and trend and range management levels. Complex yet simple to understand. There is more to it that is not shown, but I do like it.
You win, you lose. All else is history. The future does not exist.
- #29,315
- Nov 28, 2013 7:08am Nov 28, 2013 7:08am
This next image is known as the Z-scope analysis described to me by another trader who raised the issue of geometric formations and the symmetry of fibonacci ratios in geometrical formations. It is a new concept that is being developed and tested by him. There is a very intersting alignment of sentiment and trend and range management levels. Complex yet simple to understand. There is more to it that is not shown, but I do like it. {image}
So with all these technical pics, what is your actual analysis, not being rude, but I can go to my chart and plot out what happened in the past, sometimes I think I am a genius, then it comes to the point where I have to make my trade and it can be a little more complex haha.
EDIT: I really hope that didn't sound rude :/ Just curious as to how you would use it to make a trading decision
insideBars==boss
- #29,316
- Nov 28, 2013 7:18am Nov 28, 2013 7:18am
- | Joined Oct 2013 | Status: You missed it. So what! Try again. | 625 Posts
Another way of looking at the charts is like this: *assuming* the market continues this trend where does it end? How do I get my trade into that mess and expect to make a profit from it? The best anyone can hope to achieve is 100% success from being 80% sure that their entry is right. To be 80% sure means that you have to be able to analyse the market correctly so that you get as low a risk as possible on entry. This means that once you put your entry in, the market must continue to maove away from your entry or you will take a loss. Thechnical analysis is there to help you decide how risky the entry point is according to your system. In this model we would hope to go short from the next highest point which is point 2 on fib time scale measored from 0 to 1. The further away from the initial clue as to direction. With right direction determined, you can search for lower risk entries and expect the market to give you money if you are right. This model is done for you. If the market moves outside the scope of the Zone Scopes, there is higher risk of analysis failure and increased risk of losing trades.
You win, you lose. All else is history. The future does not exist.