Discussion in 'Trading' started by Landis82, Oct 17, 2007.
Not another one till Dec. 22nd.
The one interesting point about the Bradley is that more times than not, it does appear to nail "significant" turning points in the markets. Not all advertised turn dates turn out to be significant and this is why the Bradley gets faded by most traders. There have been quite a few very important turn dates that the Bradley did nail in recent years though. One of which was the March 2003 bottom in which the S&P500 hit its exactly low print and the Bradley turn nailed it to the exact day. There are several climatic market events certainly taking place now and that could mean that the 10/17 turn is significant and a major top in many markets could be well underway...
Seriously! I hope some other traders took notice with this development. What I found more interesting is that on 10/17 is when the India BSX opened gap down and the Yen broke 116.50 is right when the downside really started on a global scale. With NY equities closing right near the lows of the day today, Asia could very well continue course with another Black Monday...
Excuse me, but we have been in a DOWNTREND since last Friday, so there was no trendturn today, but continuation...
The formula is based on a flawed premise. The weights that Bradley attributed, at times cancelled each other out; specifically Venus and Mars declinations. This is why it pegs a turn or just fails miserably.
Non polarized, is it up or down and will it invert?
Anybody that uses this canned indicator without any adaptation and without other non correlated indicators deserves to be left scratching their heads after the smackdown.
I'll go one step further--take a few years and learn how to trade with just bars and volume THEN explore the esoteric side for more of an edge.
You'll probably find you don't need it to be profitable. Conversely it may help you to go to the next levels and a higher tax bracket.
Depends on what you want out of life.
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