I was looking back over some indicators which I tend not to use but it's interesting to see just how effective they can be sometimes - a descending wedgie on two longer term RSIs picked the bottom to the week.
OK - 10 consecutive posts without anyone being called a name (specifically Muppet).
This is quite pleasant, let us keep it this way please.
Just like mathematical probability, technical analysis is an ATTEMPT to predict the future based on historical data.
Just for Kenna's and Muppet.
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I want to be in the crowd of Muppets,with nothing to add but plenty to pontificate.
OK - 10 consecutive posts without anyone being called a name (specifically Muppet).
This is quite pleasant, let us keep it this way please.
Agree 100%!!!
Thanks tech/a and the others who posted their CONSTRUCTIVE analysis.
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Interesting. I don't think you can say that. If the prediction part was true then that would show up in win/loss ratio of said analysis.
I'm not so sure that can be mathematically/statistically proven.
Interesting. I don't think you can say that. If the prediction part was true then that would show up in win/loss ratio of said analysis.
I'm not so sure that can be mathematically/statistically proven.
Well, I did say "attempt", but if you disagree then how would you define technical analysis?
Google define:technical analysis
Well, really looking forward to your input mick, even though you're a forum newbie. You must have been watching for a while and are interested in EW. What's your call for the current move?
Well, I did say "attempt", but if you disagree then how would you define technical analysis?
Google define:technical analysis
However Chris's chart is no more than a grapghical account of past price action expressed as an RSI. If you have a good look at the mathamatics behind it you'll see it has no predictive value in the math itself.
Here is The ( & I mean THE there is only one )
Primary Trend of the Market (200 pt chart of XAO is beyond manipulation )
It gives indication that the bottom is in ( until further notice)
march 2009 would seem to be as significant as march 2003
Change of behavior with the last sequence of columns
( watch the down waves when looking to go long )
What do I mean by beyond manipulation
That there is no significant factors of a larger scale
that can impinge and cause dicontinuities
Not in the way that movements on this chart can cause on eg a 50 pt chart..
This chart would give more confirmation
when the current "step back" pushes up to 4200
( thrust after reversal ?)
It could pull back down one last time ( before moving higher to 4200 ) and make a higher low
( still have seen the bottom )
setting up a very good Buy point
with a Secondary Bottom, note straddling the Diagonal ,,
BUT beyond manipulation means such normal confirmation
is not a usual consideration--> With no larger scale at work-->
What is (possibly ) more likely is that the chart pauses and corrects in time instead of price.
As the hand ( primary trend ) holding the pendulum moves higher
Even though the swings ( the fluctuations ) do not..
motorway
how would you define technical analysis?
Google define:technical analysis
These are AGET generated wave counts and will not be to the liking of Elliott Purists.
looks to be still on track with original prediction
interesting the similarity between these 20 year charts and an overheated 1 min chart...mostly seems to find the middle in general ...half way between 3200 and 6800 could be a possibility
It's one of the ugliest looking counts I've seen in a long time. Talk about forcing it in there.
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