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ammo
Registered: Feb 2007
Posts: 18258 |
10-02-12 12:01 AM
Quote from Nutinsider:
So what do you do when you get contradicting indicators?
I'm looking at a AAPL september 27th candle and it appears to be bullish engulfing...then next day its a bear harami.
This is one example, but I'm curious about what you guys look at next when your initial indicators are contradictory? To me is seems choppy and that would be a sign to just hold pat.
Thanks
market trades in bell curves ,if the 642 doesnt hold then we drop to the next bell, wide spot of support is 606 area, if it does hold we retest the 667 wide spot of the present bell..you can use the candles ,tls small timeframes to pinball around on the moves between
 2012-10-01-tos_charts.png apl bells.png
This has been downloaded 81 time(s).
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Paddler
Registered: Nov 2011
Posts: 256 |
10-02-12 03:49 AM
Quote from Nutinsider:
I THINK you are saying "ignore the noise" and just grind the nuts and bolts, right?
I totally agree with that, and I suppose I am simply trying to determine what is noise and what isnt. I guess most TA would fall under the category of non noise because it isnt as biased?
Im really not sure, but I'm still reading a lot and attempting to get a better feel of the markets. Regardless, thanks for the response.
Please, you are not supposed to understand his writing unless you are invited to his private circle. He just labelled all ET members as takers except himself. Don't fuck around with this hypocrite.
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Handle123
Registered: Aug 2007
Posts: 1037 |
10-02-12 05:52 AM
Quote from Nutinsider:
So what do you do when you get contradicting indicators?
I'm looking at a AAPL september 27th candle and it appears to be bullish engulfing...then next day its a bear harami.
This is one example, but I'm curious about what you guys look at next when your initial indicators are contradictory? To me is seems choppy and that would be a sign to just hold pat.
Thanks
I don't use candles per se in intraday or daily/weekly unless it is used as in special situation pattern trading. I am not saying they don't work, but when I started trading, only used bars for a number of years before they came out, so I am more use to just regular bar charts and the patterns they make.
AAPL looked very toppy on highs slightly over 700.00 as volume was less than previous highs, MACD or TSI were showing a slowing down on both weekly/daily charts, plus a Doji at the highs per the weekly, I view it as it should go lower.
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oraclewizard77
Moderator
Registered: Jan 2006
Posts: 2289 |
10-02-12 06:06 AM
A Doji is a candle.
Quote from Handle123:
I don't use candles per se in intraday or daily/weekly unless it is used as in special situation pattern trading. I am not saying they don't work, but when I started trading, only used bars for a number of years before they came out, so I am more use to just regular bar charts and the patterns they make.
AAPL looked very toppy on highs slightly over 700.00 as volume was less than previous highs, MACD or TSI were showing a slowing down on both weekly/daily charts, plus a Doji at the highs per the weekly, I view it as it should go lower.
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kut2k2
Registered: May 2005
Posts: 3148 |
10-02-12 08:20 AM
Quote from Nutinsider:
So what do you do when you get contradicting indicators?
I'm looking at a AAPL september 27th candle and it appears to be bullish engulfing...then next day its a bear harami.
This is one example, but I'm curious about what you guys look at next when your initial indicators are contradictory? To me is seems choppy and that would be a sign to just hold pat.
Thanks
Any indicator that gives me a buy signal at one time and a sell signal the very next time step is worthless IMO. I never saw the value in using candles for myself but I'm in no position to say they don't have value to somebody else. I just ignore any indicators that ever whipsaw me. My only other universal rule on indicators is:
If your indicator needs confirmation, then you need a better indicator.
As always, YMMV.
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