JTrader
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The charts NEVER LIE.
Only people lie, distort the facts, use "spin" and KILL THE MESSENGER.
what u a prophet now r u ?
Note - prophet (not profit )
The charts NEVER LIE.
Only people lie, distort the facts, use "spin" and KILL THE MESSENGER.
what u a prophet now r u ?
Note - prophet (not profit )
Hey! I resemble that! LOL. I trade the Horizontal lines almost exclusively. In the case that Barry cites, I would more than likely not taken the trade. In general "my" rule of thumb is that if price opens near one of the horizontal lines I do not take the trade of that nearest H line. I take the trade on one of the other two lines but not the nearest.
Plus it's not the GBPJPY :cheesy:, that's another reason not to trade LOL
And I close with this for the newbies practice practice practice practice....
Hey careful with that killing the MESSENGER stuff that's my bands name LOL..
Its been a while since I took a look at the statistics regarding consecutive bars. Are you actually saying that after 3 consecutive bars, there's a greater probablity of the 4th bar being the opposite color than the same color ? and if so, by what percentage ?
are you filtering these statistics by time ?
The consecutive bar statistics are always 50/50, red or green for the next one.
I've also been wondering about the correlation per time. For example 3 bars go the same direction 50% longer in time than 2, and 4 bars go the same direction 33% longer in time than 3, though there still seems to be the same 50/50 chance of a change of direction.
That's NOT the point!
The point is whether or not you can take advantage of a MOVEMENT in the opposite direction and waiting for at least 3 consecutive bars seems to give that "edge".
Having an edge means the odds are in your favor. If there has been 3 green bars in a row 50 times, and 4 green in a row 1 time over, say, 1 week then the odds are not 50/50 when it comes to determining the 4th bar.
johnlvs2run and nunrgguy:
If there are 3 green H1 bars in a row, then look at the new bar. Is there a tail? How long is the tail? That's where the profit is. It's NOT about predicting candle color.
I hope that helps.
In hindsight or traded? Why didn't you go long after 3 red candles?
M5 chart with H1 background.
After 3 RED H1 there was a nice Buzzard Reversal trade. Same after 4 RED H1 candles.
There's nothing to say he didn't apart from his own reply.:whistlingWhats to say he didn't go long? Can you not see the long upper wick on the 4th red candle? At some stage after 3 red candles, the 4th one was green, and price was going up. Using the buy zone/psychological lines you would have entered and exited with profit, long before price came back down.
hang on, it retraces after every bar so wheres thesignificance of the 3 red in a row.
again assumption without evidence - and then again the picture is incomplete on the last bar.
Utter rubbish - the chance of the retrace is always 50/50. next you'll ab be quoting tom de mark and his 13 count. yet more rubbish.
At least if you are going to make outlandish claims back it up with some evidence.
even then its rubbish - like saying every seventh ice cream sold is raspberry ripple. Do you lot really want to base your future earnings on this twaddle?
hang on, it retraces after every bar so wheres thesignificance of the 3 red in a row.
again assumption without evidence - and then again the picture is incomplete on the last bar.
Utter rubbish - the chance of the retrace is always 50/50. next you'll ab be quoting tom de mark and his 13 count. yet more rubbish.
At least if you are going to make outlandish claims back it up with some evidence.
even then its rubbish - like saying every seventh ice cream sold is raspberry ripple. Do you lot really want to base your future earnings on this twaddle?
How did the 6 MIT students take Vegas for millions? STATISTICS.