Recent content by zippy

retracement or as a reversal? May I comment please? I see a strong resistance at 1580-1581ish area. When the high was tested the 3rd time and failed, I would identiy the first leg down to 6:45ish as retracement and the failure to take the high out at 1580 as a reversal. In another words...

Is not that the first lower high? Yes that could be regarded as a lower high too- I'm looking for retracement of more than a few bars for the formation of point C. AB= 4152- 4139= 13 points BC = 5 points We will know that point C has been formed,once the price starts moving down. The short...

Sorry I presumed that you would be able to locate 1-2-3 reversal on Nqoos' chart. I identified 1-2-3 on it but as you can see he was demonstrating other set-ups. Each to their own, eh? Here are my comments on the chart, please advise if you agree. Thanks for your inpurt Sulong, much...

I thought I will bring this chart to the group's attention. It has all the ingredients of 123 reversal and much more. http://charts.dacharts.com/2004-11-17/NQoos16.png Master one set-up - Own it!

yet here we are at new highs I believe we reached the new highs because of the American elections and Bush re-elected :o Can we not use this definition and come up with a set-up, write our rules around it , sim trade it to see how successful it can be. It all depends on the timeframe we...

how would you distinguish between this and a retracement? I will demonstrate my point by the use of diagram in 123 reversal www.dacharts.com/123.htm Do you see the blue horizontal line, at the point of last swing high? From there to 4 bars down is the retracement/pullback ( as I see it) I...

I've been reading Murphy and on page 100 he says, "1. A pre-requisite for any reversal pattern is the existence of a prior trend. 2. The first signal of an impending trend reversal is often the breaking of an important trendline." A similar view is expressed by Vic Sperandeo. Take a look...

Semantics I appreciate what you are saying. To proceed any further we need to get the semantics and definitions out of the way. No harm in those following this thread to come up with their own definitions! :p

defining trend, pause and pullback A trend is the direction of the market making peaks and troughs, commonly known as highs and lows. As I said earlier, the market moves in 3 ways, uptrend, downtrend and sideways. The daily gives us only 1 bar but when using 5 minute chart we see a lot of...

"There is no essential difference between a pullback and a retracement unless one assigns a difference to them". I believe there is a difference between retracement and pullback. Retracement is in terms of fibonacci numbers, such as 62%, 38% and 50%. However "pullback" can only be applied when...

The market moves in 3 directions, uptrend, downtrend and sideways. This sideway move is what we regard as a trading range? " This type of sideways action reflects a period of equilibrium where the forces of supply and demand are in a state of relative balance." As regard to retracement can we...

Very interesting thread. I don't think "pullback" or "retracement "has been defined as yet.

Martin Any ocmments on SCTN?

Martin Thanks for the charts. Did you trade in SCTN last week?

Martin Thanks for your interpretation. I am not very confident with triangles, wedges and mathematical workouts of chart formations. Are you able to take me a stage further please?