Crap Buddist
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Snifffff. Is it to do with a universal vortex of solar bias energy ? :cheesy:
mr.marcus said:
this is actually an excellent response. yes, it depends of the context, it depends of the intent, and it depends on the fundamentals. all of them. some may weigh more than others at times, but all play.
it is a good comment. you dont trade the pattern just because it is there, you trade it for a reason. period.
andycan
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depends what one means by patterns.
every market has a signature, the signature is created by the players.
over time those players show their hand, once you know what games they are playing then one realises that patterns are there for decoration. there is too much window dressing going on for traditional patterns to be of any subsequent use, but assuming there is a high which is forming a H/S pattern all it is,is a topping action, plain and simple it can be a major high or a temp high but there are many other topping patterns per se that dont resemble a head and shoulders, the trick is knowing how it got where it got and why?
is it smart money bailing out and joe public being sucked in? you dont need patterns for that (applies to stock related market).
on commodities its a different ball game you have producers, commercials speculators and index funds,
each player has its own set of strategies some hedge some do spreads within correlated markets, many speculate
but with seasonals you can clearly see who is dipping their toes so too speak
every market has a signature, the signature is created by the players.
over time those players show their hand, once you know what games they are playing then one realises that patterns are there for decoration. there is too much window dressing going on for traditional patterns to be of any subsequent use, but assuming there is a high which is forming a H/S pattern all it is,is a topping action, plain and simple it can be a major high or a temp high but there are many other topping patterns per se that dont resemble a head and shoulders, the trick is knowing how it got where it got and why?
is it smart money bailing out and joe public being sucked in? you dont need patterns for that (applies to stock related market).
on commodities its a different ball game you have producers, commercials speculators and index funds,
each player has its own set of strategies some hedge some do spreads within correlated markets, many speculate
but with seasonals you can clearly see who is dipping their toes so too speak
andycan said:
Thanks for the reply Andy, this is not really what i was looking for though.
Let me put it another way.
If i showed you 5 days worth of volume for any particular market could you visualise what the price would do according to the volume?
jacinto said:
ok, the answer to profits with failed patterns. in context, a failed pattern, say reversal pattern, when fails, it signals a continuation of a main trend, failure of pattern itself typically gives an entry for a SAR (stop and reverse).
andycan
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linesnifferlinesniffer said:
simple answer is no
volume has many faces to what it represents
the characteristics of volume at a low will be different to a higher low.
a blow off low will have a different look and feel to a drawn out low
EDIT: let me put it to you another way when i look at the markets i tend to have an idea who is doing what, by knowing who is playing i have an idea how a low will form that in turn allows me to know more or less how the volume will be represented
but not the other way round, if that makes sense?
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