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Re: Wolfe
DAvid,
from a strictly technical point, you are probably right. Everyone already used pivot points to find fib. entrances, gartley, triangles, etc. etc. The search for the holy grail goes on, eh?
Meanwhile as we know, chart reading is an art, not a science. It's in the eye of the beholder. Is ww the one pattern to trade? no, I don't think so. I don't trade it, but I trade maybe 5% discretionary..
The idea here David is that there is geometry in the markets based on psychology. WW is just one pattern, and like triangles/wedges/head and shoulders, if it is coded with the proper money management it might be mildly profitable.
If you are able to "see" what is going on under the pattern and trade it discretionarily, then you could kill with patterns like this. As OAC said, it's all about the context, and unfortunately our computers can't see patterns the same way a human does.
I can't say I have the time to search out these patterns, and I don't like to trade what I can't quantify. So for me WW is just fun to watch.
You'd be amazed how many do work!
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