http://www.marketgeometry.com/?p=4437 The price action master tim morge talks about A/R lines. I've posted a few of my own on my "pitchfork" thread. Where is Ironfist, he'd like this too , and really anyone else looking to be a p/a only trader. - KON
Hmm I guess pa only threads arnt real popular here. OK changing gears. Let me put up a MACD and show precisely where to buy and sell, because we ALL know the markets follow MACD by every tick .
Konviction, you too are wasting time, my friend. Most on this site do not trade full or part time. They are looking to hit the lottery without playing it. You have been steadfast in pitchfork analysis, but rest assured, not one in ten will heed your call. I have been on this site a very long time and have seen at least ten people drop winning strategies here. Good luck with the masses, for most of them are asses. Caveat Emptor Edit: This is not new, these are Gann 45 degree lines.
Well hey I tried . I see the "price action only vs indicator debate" quite often here, so I thought this article would be a good read.
The author of the article left out a critical analysis component. He talks about the risk/reward: but not the probability of success or how he estimated the probability of success. And of course it's more complicated than that. For a given entry/exit scheme there is a distribution of possible results and historical probabilities. The shining example of a discretionary trader/technical analysis is Bulkowski and his outstanding books. This article fails to meet the "Bulkowski Standard".