PATTERNS -- So These REALLY Work???

Discussion in 'Technical Analysis' started by al c., Mar 16, 2003.

  1. ZBEAR

    ZBEAR

    There ya go al c.
    Patterns within patterns.
    I like the way you stretch past intermediate Hi's n Lo's to grab those fib numbers.

    Confirmation is strong with multiple patterns / multiple time frames.

    Keep up the good posts.
     
    #41     Mar 18, 2003
  2. opm8

    opm8

    al c.,

    Great work. I've recently learned these exact patterns as well but I've only been watching on 5 min and up timeframes. Do you look at any others besides the 2 min?

    --opm8
     
    #42     Mar 18, 2003
  3. al c.

    al c.

    There ya go al c.
    Patterns within patterns.
    I like the way you stretch past intermediate Hi's n Lo's to grab those fib numbers.

    Confirmation is strong with multiple patterns / multiple time frames.

    Keep up the good posts.



    ZBEAR,

    Thanks for the comments, as time permits in the coming days I will try to post some charts in realtime so that people may begin to see how these patterns and Fib. ratios are actually leading indicators and not lagging indicators.

    al c.
     
    #43     Mar 18, 2003
  4. al c.

    al c.

    opm8,

    Another interesting fact about the patterns I trade is that they are visible on ALL time frames including tick charts. So, a trader simply must decide what timeframe he or she is comfortable with and trade the patterns as they develop and let the probabilities work in his or her favor.

    al c.
     
    #44     Mar 18, 2003
  5. okwon

    okwon

    Are these patterns your own or are you using pattern developed by someone else's work?

    Is there a book or somewhere I can learn about these high probability patterns you are using? Or at least a list and description of these patterns?
     
    #45     Mar 18, 2003
  6. nkhoi

    nkhoi Moderator

  7. opm8

    opm8

    nkhoi,

    Your ability to produce the most comprehensive links never ceases to amazes me. I've learned tons just following your posts. Thanks.


    okwon,

    All these patterns form the mainstay of "Fibonacci Ratios with Pattern Recognition" by Larry Pesavento, a superb trader.

    --opm8
     
    #47     Mar 19, 2003
  8. opm8

    opm8

    al c.,

    Thanks. I'm a little amazed that you trade with no other trend or directional confirmation. Or are you saying that the higher time frame patterns are your "filters?"

    --opm8
     
    #48     Mar 19, 2003
  9. al c.

    al c.

    opm8,

    I have found that the best way to trade these patterns is to trade all the patterns that develop. So, for example; if I watching a 2 min. chart, I trade all the patterns that develop. However, I am especially interested in a 2 min. topping pattern that may develop in the area of a 30 min. bearish pattern or are of key fib. resistance. In this way I am using the confluence of patterns and Fibs. from different time frames.

    I will attach a 60 min. chart here, then post another message with a 5 min. charts attached.

    I hope this answers your question.

    al c.
     
    • ac07.png
      File size:
      46.7 KB
      Views:
      417
    #49     Mar 19, 2003
  10. al c.

    al c.

    opm8

    Here is the 5 min. chart I referred to in my previous message.
    See attachment.


    al c.
     
    • ac08.png
      File size:
      43.3 KB
      Views:
      378
    #50     Mar 19, 2003