Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

cbratton

TD Waldo Pattern # 2

Recommended Posts

I'm having trouble intrepeting what this pattern means. It's Demark's Waldo Pattern Number Two.

 

This is what I got out of the book (Demark Indicators):

 

Pattern Two:

 

The market records a fresh high or low for a move, but closes higher than the four previous closes (for a potential base)

 

OR

 

The market closes lower than the four previous closes (for a potential top)

 

OR

 

The close of the trend high is greater than the previous price bar, or the close of the trend low is less than or equal to the previous price bar

 

AND

 

A down close occurs after a high or an up close occurs after a low, and the close following the high is greater than the close prior to the high, or the close following the low is less than the close prior to the low.

 

 

 

This is what I think it means a in more simple form:

 

FOR A TOP:

 

The market records a fresh high or low for a move ?

 

AND

 

closes lower than the four previous closes (for a potential top)

 

OR

 

The close of the trend high is greater than the previous price bar

 

AND

 

A down close occurs after a high

 

THEN

 

The close following the low is less than the previous low.

 

 

FOR A BOTTOM:

 

The market records a fresh high or low for a move

 

AND

 

closes higher than the four previous closes (for a potential base)

 

OR

 

The close of the trend low is less than or equal to the previous price bar)

 

AND

 

A up close occurs after a low

 

THEN

 

The close following the high is greater than the previous high

 

 

 

 

But when I try to write a code it still seems wrong.

 

Any Help?

Share this post


Link to post
Share on other sites
Thanks for a reply, but since no http addy is included, I'm wondering just what site you are suggesting.

 

 

Are you kidding me? It's Where's Waldo, would you really go to a site that had a cartoon as its spokesperson for trading advice??:haha:

 

lol

Share this post


Link to post
Share on other sites

These Waldo patterns are not as amusing as they seemed and they are hard to spot at times. Waldo #2 is generally back plotted by one bar (ie, plot1[1] ) whilst Waldo #3 is plotted in real time or end of bar.

 

The EOD reversal today (11-19-2009) or beginning of a reversal in ES showed the efficacy of this pattern (Waldo #2, yellow dot at 13:00 exchange time).

 

attachment.php?attachmentid=15571&stc=1&d=1258665033

 

http://books.google.com/books?id=GZtlA991lNYC&pg=PT199&lpg=PT199&dq=demark+waldo&source=bl&ots=GsiDAoHonR&sig=nKmYjAteHAV1_DxVu20rxx3uuqU&hl=en&ei=yLIFS7vCBoH_nAfd5PjJCw&sa=X&oi=book_result&ct=result&resnum=5&ved=0CBAQ6AEwBA#v=onepage&q=demark%20waldo&f=false

Waldo2_3ani.gif.f3d83276335533ff350a39b6909aac41.gif

Edited by 3monkeys

Share this post


Link to post
Share on other sites
Are you kidding me? It's Where's Waldo, would you really go to a site that had a cartoon as its spokesperson for trading advice??:haha:

 

lol

 

Well, would you? As it turns out Waldo IS the spokesperson for DeMark.

 

Demark says, " Waldo Patterns were inspired by the children's cartoon character whose caricature is camouflaged within a background of numerous other cartoon figures. The game is to locate him. Once he has been identified, the task the next time becomes simple. However, the challenge is to accomplish this feat initially. Likewise with market observations and price patterns -- the identification process is easy once successfully performed. This is why they are called Waldo Patterns."

 

It's a shame the post is so old... but had to point that out, lol.. :cool:

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.