Predictive chart patterns and set ups

[oildaytrader]

Chart pattern 12 :Elliot Wave

http://en.wikipedia.org/wiki/Elliott_wave_principle

It shows the behaviour of the crowd

 

[N Rothschild]

eliot wave doesnt work

 

[N Rothschild]

"euro usd fundamentals call for a euro usd price of 1.45 " lol. think you should stick to making ****ty auotmated systems that probably dont work.

 

[oildaytrader]

eliot wave doesnt work

Everything works 30 to 40 % of the time , but we get better results by being ultra-picky and demanding confluence.Infact most chart set ups will work maximum 50 % of the time by using confluence ,the secret of trading them lies in positive expectancy.

http://tradermike.net/2004/05/trading_101_expectancy/

 

[oildaytrader]

"euro usd fundamentals call for a euro usd price of 1.45 " lol. think you should stick to making ****ty auotmated systems that probably dont work.

How about being positive and posting a really nice chart set up?This thread would benefit.We are on an elliot wave on the Euro,don't know which wave at present.

 

[N Rothschild]

How about being positive and posting a really nice chart set up?This thread would benefit.We are on an elliot wave on the Euro,don't know which wave at present.

thats why elliot wave doesnt work, it only works in hindsight!

if you got 20 elloticians in a room and gave them a chart, i bet not one of them would agree and what point in the wave cycle we are at, wether its 5 wave impulsive, or a b c correction bla bla. these things only become apparent in hindsight..

 

[N Rothschild]

Everything works 30 to 40 % of the time , but we get better results by being ultra-picky and demanding confluence.Infact most chart set ups will work maximum 50 % of the time by using confluence ,the secret of trading them lies in positive expectancy.

http://tradermike.net/2004/05/trading_101_expectancy/

i wouldnt say that something that works 30-40% of the time is something that "works". if something is wrong more than its right, it clearly doesnt work.

 

[oildaytrader]

"euro usd fundamentals call for a euro usd price of 1.45 " lol. think you should stick to making ****ty auotmated systems that probably dont work.

As regards my automated systems , the answer is posted here


http://www.trade2win.com/boards/gen...fitable-automated-trading-13.html#post1090382

 

[oildaytrader]

i wouldnt say that something that works 30-40% of the time is something that "works". if something is wrong more than its right, it clearly doesnt work.

Most of my automated systems work less than 50 % of the time, for argument sake,they make money on positive expectancy.This does not mean they don't work, they work and all make a profit.


Elliot wave pattern may not be perfect pattern , and may only work 30 to 40 % of the time and imperfectly, it can be useful when used in confluence.

 

[oildaytrader]

A useful indicator as part of confluence of chart patterns, and other factors like fundamental anylysis,intermarket correlation etc , is the stochastic indicator on 1 hour, 4 hour ,daily and weekly charts.

 

[oildaytrader]

Chart pattern 11

Triple trend lines .Here the triple trend line are all showing an uptrend on euro usd.

Here is the result

Here is a very bullish pattern on euro usd .

A opening gap , up trendlines and a saucer formation

 

[oildaytrader]

Here is the result

Here is a very bullish pattern on euro usd .

A opening gap , up trendlines and a saucer formation

Here is explanation on cup and handle formation on e usd 5 m at present

http://stockcharts.com/school/doku...._analysis:chart_patterns:cup_with_handle_cont

 

[papapips]

Hi Traders,

Here is a short video (normally about 20 minutes) of the markets talking about my view on the week ahead from the proxies to currencies, commodities and equities (US only).

http://www.thehamiltons.co.uk/28_03_2010/28_03_2010.html

Please note this is educational only, only take trades on your own decisions and analysis.

 

[oildaytrader]

Some nice chart patterns here

http://levelstock.com/the-best-profitable-chart-patterns-in-trading-cms-36

 

[oildaytrader]

The chart patterns covered in this book are posted freely in this thread, so reading this thread will save money.

A simple book with chart patterns will cost £20 ,so if feeling kind please give £10 to charity if this thread is useful.

http://www.amazon.co.uk/Chart-Patterns-That-Consistently-Money/dp/1883272610

 

[oildaytrader]

I use the stochastic indicator and trend lines , it has improved my trading.Enjoy the free knowledge.

See this videos about using trendlines

http://stocata.org/youtube/video_004.html

http://stocata.org/youtube/video_005.html

http://stocata.org/youtube/video_006.html

http://stocata.org/youtube/video_008.html

http://stocata.org/youtube/video_009.html


http://stocata.org/youtube/video_013.html

http://stocata.org/youtube/video_016.html

http://stocata.org/youtube/video_017.html

http://stocata.org/youtube/video_019.html

Stochastic indicator

http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:stochastic_oscillator

http://www.youtube.com/watch?v=vjQ9pS_ILvk&feature=related

http://www.youtube.com/watch?v=N5qCKYWw0I8&feature=fvw

http://www.trade2win.com/boards/general-trading-chat/89566-predictive-chart-patterns-set-ups.html

 

[oildaytrader]

Trading price action on its own is fruitless in a random market.Most of what you see is random price action.Use price action with predictive chart patterns , stochastic indicator on hourly charts and trend lines in a trending market , the trading performance will be far superior and highly profitable.

http://www.tradingpriceaction.com/

 

[oildaytrader]

Bullish engulfing pattern on 4 hour charts with momentum and trendline break , as seen on far right of chart , is always a good pattern.

 

[oildaytrader]

How to trade these predictive chart patterns.

I use 1 15 min trendline break method using triple screen method on 15 min , 1 hour and 4 hour should all be in same direction

Here is an explanation and charts of 15 min trendline break method

http://www.forexfactory.com/showthread.php?t=163012

Stop losses 40 pips , target minimum 80 pips.for swing traders/set and forget intraday.

Stop loss 12 to 20 pips for day trading with target of 2 times stop

Entry rice momentum must be existent ,trendline reversal on 15 min

Exit trendline breaks with two bar break/ reversal confirmation

http://www.forex4noobs.com/blog/forex-signals/15min-trendline-bounce-trading-mini-webinar/

 

[wackypete2]

Build up your chance's by next week - having precise information on the latest stocks in the market! Don't take chance's grab one now.

DELETED LINK

So far you have posted this exact message in 5 different threads and your post certainly looks very familiar.

Peter