I do find using time points can be very helpful, but in specific circumstances, and then as a guide based on the raw bar chart and volume, and an interpretation of the pattern of trend.
Yogi isn’t displaying the logic behind what he is doing, and this obscures the value in what he is doing. It really is an art to combine straight technical analysis, wave structure (EW), with time cycle based approaches.
In simple terms, when using charts, what you are doing is using a geographical approach to analyse technical patterns and estimate probabilities of where counter trends will occur, for how long, and how deep.
Just think about it this way (using a bullish illustration for simplicity – just reverse this for a bearish picture) - you’re essentially looking for a “sweet spot” (like in tennis) where an underlying will pull back in an uptrend if trading long.
You know that most charts don’t move in a straight line, but zig zag up. Hence entries should be around a time and price “area” where you expect a continuation, and exits should be on strength as the underlying drives up into an area you expect resistance and a pull back (counter tend) to occur.
What time points are doing is just like using Fibonacci/Gann extensions and retracements of price ranges. Same kind of thing, but using time as a measure of where support/resistance is likely to occur. Then just as there can be harmonics in price, you can use time the same way.
Of course the art is to know when to use these, and how. It is also important to know how to validate these cycles just like in EW it is critical to know when these are validated or not.
It is important to note thought that it is the pattern of trend that is paramount. The analysis, just like EW should be a bolt on, and not the primary driver.
Here’s a big hint – most of any of these schools is usually only applicable for a minority (say 30% at a guess) or the time, and then only with certain patterns. Otherwise just straight charting on its own is often good enough to trade from (so again charting ability is the foundation, and not the other way).
Where Yogi and I differ is that I don’t think that planetary aspects work very accurately and there is a lot of guess work in using these and applying them in practice. I essentially see time in a very geometric light much like price, hence I don’t attribute any meaning to a date above a modified form of support and resistance.
Regards,
Magdoran
Yogi isn’t displaying the logic behind what he is doing, and this obscures the value in what he is doing. It really is an art to combine straight technical analysis, wave structure (EW), with time cycle based approaches.
In simple terms, when using charts, what you are doing is using a geographical approach to analyse technical patterns and estimate probabilities of where counter trends will occur, for how long, and how deep.
Just think about it this way (using a bullish illustration for simplicity – just reverse this for a bearish picture) - you’re essentially looking for a “sweet spot” (like in tennis) where an underlying will pull back in an uptrend if trading long.
You know that most charts don’t move in a straight line, but zig zag up. Hence entries should be around a time and price “area” where you expect a continuation, and exits should be on strength as the underlying drives up into an area you expect resistance and a pull back (counter tend) to occur.
What time points are doing is just like using Fibonacci/Gann extensions and retracements of price ranges. Same kind of thing, but using time as a measure of where support/resistance is likely to occur. Then just as there can be harmonics in price, you can use time the same way.
Of course the art is to know when to use these, and how. It is also important to know how to validate these cycles just like in EW it is critical to know when these are validated or not.
It is important to note thought that it is the pattern of trend that is paramount. The analysis, just like EW should be a bolt on, and not the primary driver.
Here’s a big hint – most of any of these schools is usually only applicable for a minority (say 30% at a guess) or the time, and then only with certain patterns. Otherwise just straight charting on its own is often good enough to trade from (so again charting ability is the foundation, and not the other way).
Where Yogi and I differ is that I don’t think that planetary aspects work very accurately and there is a lot of guess work in using these and applying them in practice. I essentially see time in a very geometric light much like price, hence I don’t attribute any meaning to a date above a modified form of support and resistance.
Regards,
Magdoran