3 replies to this topic

[emkay]

FOUND THAT SOME FOLKS HERE THINK CHART PATTERNS/FRACTALS
ANALYSIS IS A JOKE/USELESS SO I DID'T POST IT.

WELL HERE ARE CHARTS OF DOW JONES INDEX TRACING A FRACTAL
FROM RECENT PAST AND I'VE BEEN TRADING IT (13MIN TIME FRAME).


WHAT DOES IT SAY NOW?

IF THE REBOUND TO 13000 IS SOLD INTO THEN LOOK FOR A VERY
UGLY DECLINE TO 12450-12500 LEVEL BY FRIDAY/MONDAY.

HOWEVER IF 13000 LEVEL IS WELL SUPPORTED, THEN THE FRACTAL WILL
FAIL AND EXPECT THE REVERSE TO THE UPSIDE! BLOW-OFF RALLY.

HERE IS DIRECT LINK TO THE CHART -My Webpage




P.S. I HAVE LEFT OUT THE CHART PATTERN OF THE SELL-OFF ON PURPOSE.


GOOD TRADING TO ALL
RGDS
MANI

[bighouse1006]

Appreciate the charts!

[selecto]

I thought fractals were reversal patterns based on the configuration of price bars. That looks more to me like pattern recognition, which hopes that the pattern will extend long enough to make some dough. I'm here to learn. Help me out.

[emkay]

I thought fractals were reversal patterns based on the configuration of price bars. That looks more to me like pattern recognition, which hopes that the pattern will extend long enough to make some dough.

I'm here to learn. Help me out.

selecto,
here's a defintion of FRACTAL from wikipedia


It has a simple and recursive definition.[2]
Because they appear similar at all levels of magnification, fractals are often considered to be infinitely complex (in informal terms). Natural objects that approximate fractals to a degree include clouds, mountain ranges, lightning bolts, coastlines, and snow flakes. However, not all self-similar objects are fractals—for example, the real line (a straight Euclidean line) is formally self-similar but fails to have other fractal characteristics.

BASICALLY IN CHARTING MARKET MOVEMENTS, PATTERNS REPEAT IT SELF WITHIN
THE SAME TREND (I.E. RECURSIVE), UNTIL A NEW PATTERN EMERGES.

hope that helps

rgds
mani