Mover, I am still confused. By given us the point at a certain time it is just a point of inflection. As you know point of inflection is able to go any way not just reverse. If you are saying that the point in time which you give us is a relative minimum or a relative maximum then its more valuable to the interpretation. But, just given the time of the point it is able to move any way.
I think it depends on the person. Obviously knowing if it is a cycle high or low would be even better, but inversion does occur. For my personal trading, knowing that a certain time is a turning point is very valuable to me. Whichever way it turns doesn't really matter, I'll take advantage of it. Also, knowing a time is an inflection point rather than a high or a low keeps one from being inflexible. I've noticed that with this method, the value doesn't become obvious until after the first or second time. Once those levels are established, you then have a roadmap.
Hi, my2cents! I have read your posts in ES Journal. Your timing model is superior, no questions. I personally cannot predict price levels, only times. However the core approach behind my model is allied with your approach - program trading activity analysis. Thanks for posting in my journal, any your comments are greatly appreciated.
You can use your favorite approach for determining trading direction and trade entry. I personally prefer to wait until price level will established, that I watch for false breakout and take an opposite side of it. Sometimes I take several trades near breakeven before the true move.
John, it is correct, but only if you know trend/market direction in advance. Than you can trade levels safely without confirmation and may be have 90+% winning trades. Knowing the trend in advance is the subject of my research.
So Mover, What you are trying to say is that the time are cycles. Like 4 year cycle or 60 year cycle, only on the daily charts. That is very interesting I will have to look into that. Thanks.