See Answer to this thread for next turning point http://www.elitetrader.com/vb/showthread.php?s=&postid=400818#post400818
Yesterday was the easiest LT pattern which is described on the FAQ page: 'LT means "Local Top" relative to this scale and it is the resistance of a BRK zone because very often market makes a top just one resistance above the BRK zone. For example on that day it made a top theorically on the LT of SS2 at 9884.97 discounting the thrust on resistance at 9892 on FS1 (Future Scale 1) ' http://ecw.jexiste.fr/statistics/1/images/intraday_on_daily_scale_131103_for_141103.gif The case above is not the basic case wheras yesterday was the basic case as LT is just the next neighbour to Break zone <IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=401157>
This is the latest days you will see these charts as we are to reserve their use to our internal hedge fund managers that we will form during the next years. For the public we will translate them later into more classical indicators, signals or patterns.
Oh what Joker you are : perhaps for you I will make an exception from time to time then ! No instead you will have the pleasure to compete with BabyTrader which willl use these models as I have announced already here : http://www.elitetrader.com/vb/showthread.php?s=&threadid=26107 "Win/Loss ratio > 3 to 10+, only 3 points stop and %>75 with AUTOMATIC TRADE ? Yeah I know that seems totally impossible especially with 3 points of stop on dow yes you read it 3 absolute points not 3% of course . This is not a claim yet, what I will do is next year launch the programming of the Baby Trader, why the "Baby" because he will be capable to auto-learn. At the beginning the stop will be 10 points instead of 3 points but I know that statistically 3 points is possible, nevertheless I will let some room during his learning process as he will commit some errors at the beginning but as he will improve the stop will be tighten. Moreover he must be able to pick the exact top and or bottom let's say 50% of the time at the beginning of his learning and only the top or the bottom and over 70% of the time for both the top and bottom after a few weeks/months I don't know yet. "
Have detailed the cases in the FAQ http://www.econometric-wave.com/faqs/1/home.html.html#Q_What_is_LT (Don't be afraid or make fun of the new "crop-circles" notation on the first chart - it is inspired from a subset of UML in fact for those who know . The usefullness is that you can represent sequences in compact form and it also indicates other useful information for example that the second LT is the good break zone since market didn't come back once it is broken). What is LT on model's chart ? LT means "Local Top" relative to this scale and it is the resistance of a BRK zone because very often market makes a top just one resistance above the BRK zone. <a href="http://www.econometric-wave.com/faqs/1/images/check_dji_311203_for_020104.gif" target="_blank">Example 1: DJI 311203 for 020104</a>: LT SS2 (Spot Scale 2) = 10523 HOD (High Of the Day) = 10526.96. Note that after a small bounce on LT FS2 = 10498 (real 10496.74) the market broke down sharply. <a href="http://www.econometric-wave.com/statistics/1/images/intraday_on_daily_scale_131103_for_141103.gif" target="_blank">Example 2: DJI 131103 for 141103</a>: there is a LT at 9876.1 on FS2 (Future Scale 2) and 9884.97 on SS2 (Spot Scale 2). On that day it made a top theorically on the LT of SS2 at 9884.97 discounting the thrust on resistance at 9892 on FS1 (Future Scale 1): see next FAQ for more details on this case. Note that after a small bounce on LT FS2 = 9876.1 (real 9877.42) the market broke down sharply.
There is now a free gallery here: http://www.econometric-wave.com/gallery/index.html (can't notify and comment the picture for members at the moment yahoo egroups is very slow today)
Harry you don't want to be a phoney! Stop flooding ET with your nonsense. Please straighten out your "Pi theorem" figuring prominently in your "mysticism" thread from a week ago. Among your mountain of published stuff, this is something we all can at least verify as being nonsense. You can't afford not to correct this. Should we consider everything else you publish also as crap & trash. nononsense
Hahahaha it's me who says mystical nonsense when you are supporter of the Moon Believers like Wally : D I'm sorry <B><font color=red>NOT TO AGREE</font></B> WITH THE MYSTICS LIKE WALLY THAT PLANET EFFECTS ARE <B><font color=red>indisputable</font></B> because I DON'T NEED THE MOON AND THE PLANETS IN MY MODEL TO PREDICT : <br> So tell me the truth: are you annoyed that I denounce those who says real nonsense ? Or have you some problems that I expose their theories to the face of the world ?