Look at the perfect upside down head and shoulders they ran on the futures today. All this market is doing is running patterns. We would all be better off if we turned the TV's and news feeds off and just simply watched the patterns unfold. So tomorrow will be a gap up, completion of the arm. Not like that surprises anyone. Another gap up, yaaaay!!!
Hey Sheafeadam,that's right.Patterns,repeating patterns,sequences of patterns,
fractal patterns; some large,some small yet many a times the same pattern.
All of them in combination making the market essentially a series of repeating mathematical sequences and patterns.
Observing a particular pattern ,be it a known named pattern or what simply looks like a pattern, even if it is unknown to the observer, is merely the first step.
And then observing all of the various other patterns before and after the one observed.
Next comes finding, if there is one, a precedent for that pattern by looking to see if that same pattern has occurred previously.
And then,if a prior precedent is observed of that same pattern having occurred previously;
placing the current pattern to a particular date when it occurred previously.;
That then is your pattern placement per that prior precedent and thus the pattern correlation.
And then cross referencing that pattern and it's guestimated placement using any and all of the standard technical indicators to either ,ideally, confirm or refute your guestimated placement.
And then observing over the next couple days and longer to see if the market continues to move
in similar fashion as it did to your guestimated pattern placement date.
To see if the current pattern is replicating by moving the same or similarly to your guestimated placement.
If this is confirmed you then have your correlated pattern placement and can act upon what should come next in that pattern.
Understanding that pattern placement is only as good as
1. correct placement in the overall pattern that you make
2. that the pattern could change at any time
But yah, like I said, the whole thing, meaning the SPX 4 yrs long rally, is essentially
a bunch of flip flopping fractal butterfly's.
With pattern placement,other t/a, and butterfly techs suggesting SPX 1555 at Feb. 28th/ March 1st.
blah blah blah acecentura you're boring. Shafe I feel for you buddy. Look if you're good at day trading scalping whatever you want to call it then you should be good at position trading or swing trading its the samething. It just a longer time frame. When you day trade before you begin you go to whateva you're trading you look at what it did yesterday or a few days ago set your s&r and trade in the direction of the trend and always have a price and profit target in mind.
When Swing trading or position trading whatever you want to call it you set your s&r lines but instead of going back a few hours you go back a few days or months. You alway try to stay with the trend.
Im a great scalper and probably one of the worst position traders on the planet. Thats how they trick you, its with the news. When you scalp you dont read the news, you dont care. I cleared out of my shorts, I had no choice. This could go on forever.