thanks, but i probably wont be posting like this. i have too many other things going on. im an asshole
I use that software daily - for trading and other stuff - photo manipulation, screenshots, record screens, etc. Really nice software
I had a demo of Snag-it but then it expired. Now I just alt+Print Screen and paste it into Macromedia Fireworks and edit it however I want in there. Snag-it is cool, tho. We had it at my last job. Anyway, I appreciate all the replies and charts posted so far!
This IS a very good thread. excellent analysis and commentary Cashmoney and Corey. this all deserves alot of study. very similar to my thoughts and methods. watching multiple time frames,using multiple sma's ,watching CCI on all time frames,are my indicators.... as well as drawing many many trendlines on all time frames, anything that looks like a clear visual line from one key point to another,within the complex combination of time frames I see,to see all at the same time, ...... the picture close in the 30 sec and 1 minute ,and the big picture in the 3 hour and daily time frame. having a comprehensive vision of the whole day's price movement;all at once. and all the s/r points and fib levels that seem key at critical convergence points.,including the time on the clock.(forex trading)intraday. .... and all of this data watching,gets developed in my mind as a 'feeling' instinct as I watch price action...... such that its never just watching the present candle,out of context, instead its a knowing what this candle is doing and why, and in relation to the price point,previous days highs and lows, etc...the last 1 hour,the last s/r points, fib levels,.... it all is part of the bigger picture....along with developing a 'feeling' about how the price movement is happening, as expected or not. and what that means ,in relation to the passage of time thru the day. sorry for sounding convoluted, its late and I'm tired, Ive explained it better before. just read what corey and cash said. I didnt even need to write this....lol having a target in mind from pre trade analysis is important...and then watching price action as it heads toward my expected target,or not, having a sense of what to expect candles to look like IF price does what I expect, and if it doesnt do it....exit.or reverse.
Quote from romanus: It only makes sense that since the Nature follows specific laws the same laws should be applicable to price movements. No it does NOT make any sense. Does going into your garage make you a car? People keep saying this about Fib, but is is completely unfounded. The point I was trying to make is that since fib numbers represent one of the fundamental laws (based on how they are derived) of nature and as such there may be a way to use these principles in trading. That's all. Several major studies have been performed on Fib levels. They are no more predictive than any other level. That is a major reason most traders lose. They convince themselves that something works - (TA, volume, Gann...). They don't bother to do any exhaustive study on this idea to prove it or not. They just believe in it, telling others and using it themselves. But now I can see why you are so gullible towards Jack Hersheyism. After all, he doesn't like to subject his ideas for proof. He would rather rattle on for years with supercomplex fluff, and gather a crowd of deceived lemmings to sing his praises.
As per the discussion, I would like to point out that if enough people believe and act on a certain level it will become a self fulfilling prophecy. Fib numbers seems ridiculous, maybe they are, but if enough people react to the number they would indeed be significant.
I'll venture a guess that no trend = troubles for trends / trend line traders. The question then becomes is a day like today the cost of doing business or a regularity?