[bobcollett]

Originally Posted by mitsubishi »

Boy this is one lonely thread innit?

Dear mitsubishi
You try and identify patterns.
With no follow through.
Maybe add an entry point and an exit.


I think you are lonely.
Kind regards
bobc

[mitsubishi]

Originally Posted by bobcollett »

Dear mitsubishi
You try and identify patterns.
With no follow through.
Maybe add an entry point and an exit.


I think you are lonely.
Kind regards
bobc

Fair point bob,but i just don't want to do that as it's too much like a trading journal,which is not what this thread is about.
Lonely? Nah, couldn't be happier. Guess i was referring to the vast difference btw number of members and those who actually post something.And i am not likely to change that trend no matter what i post.

[mitsubishi]

Doesn't always pick tops and bottoms,but i have noticed a 39 hour cycle over recent months which has,on occasion,been useful.I will start keeping a record of it going forward. Note,i don't believe the patterns are an integral part of the cycle,but will point them out as i see them as before.
Should also note that 39 is a multiple of 13- a fib number.But,as on this chart,a half cycle ie 19.5 hrs also often sees a turn.The problem with cycles is they evolve and there are cycles within cycles within cycles..........
However,i never like to completely discard an idea.If it has some small merit,it can.at times be useful,or something to be aware of.The more recent the behaviour observed,the more likely it will repeat in the near future.
Patterns and cycles might be regarded as being in the field of ''fractals' but this kind of thing is not something i would rely on for trading decisions.
A good example is today's chart.The area i am looking at is a gap fill around 1290 (SPX).It would be nice if that coincided at 39hrs from 1333.
Please regard anything i post in this thread as for entertainment purposes only.Attempting to trade based on ''prediction'' has cost me in the past in missed opportunity and money.
The trick i find,is to be aware of a possible cycle/pattern to coincide with a target entry/exit price you would be considering in any case,

[mitsubishi]

A couple of charts showing a 4 week period leading up to the previous chart i posted.

[mitsubishi]

On this chart i have shown the cycle and also plotted Gann 1x1 angles just to look at some possible turning points.You will notice that most of the intraday ohlc prices are connected by the angles.

[mitsubishi]

Here's a chart from last year.Same idea.

[mitsubishi]

That was a big move off the 39 hour turn this morning........

[mitsubishi]

Looking at the theme going forward.The second chart is comparing the Gann angle with a conventional trendline.Not saying one is better than the other,just food for thought.