Why are you drawing that triangle in? What prompted you to do so? Could you not as well just drawn in to the empty space a TR? Or a PB? Or a continuation of the bull move? Take out the triangle and replace the empty space with two horizontal lines i.e. futuristic TR edges! Or take out the triangle and draw in the empty space a futuristic bull arrow. See in your example you are postulating drawing a future movement or PA based upon some past action you see to the left in the chart. Whatever it is you see to the left. In essence you are, after the fact trading. No actually it is after the fact (to the left) drawing in a future pattern. One that you cannot possibly know will take place until it takes place. You do not know that a triangle will be formed. You cannot know this. A TR could be formed. A continuation of the bull trend could happen. You don’t even have a probability factor to base that it will be a triangle next. You cannot know that until you see that. You are only guessing.
That is what separates me from you punters lol. If you can't project patterns developing, then you would be better off inventing a time machine to go back in history to make trades.
Inertia? You mean like when you start chasing a rally that you missed the big move on and end up buying at the top?
Ok video tape you trading doing this pattern projection live. Ok. Doing it on a live SIM will be fine. Tell us what pattern will comes about in the empty space on the chart before it comes about? We will await you future drawings come Monday. Make sure you are doing this live and don’t forget to tell us in your video commentary why you are drawing in such and such a future pattern. Do this on the ES. PA is PA regardless of the instrument.
I just shared the link and screenshot showing the post made on August 26th well before the triangle formed. If you want to read the thread, you'll see my trade detailed as well in real time. ??
Haven't looked at it. What thread? Nevertheless, it would be one trade. One lucky guess, Do this live all session long. A SIM will be fine.
I have many more examples posted on here in multiple threads...basically I don't post charts without a future price projection or level because that's what EW is all about. I projected bitcoin price over a year prior to the last rally to 70k...loaded up BITO leaps...and projected price 3 months out from the highs. Unless you understand EW you are basically trading in the dark...being reactive. I am more proactive. Anyway this isn't magic...go to any EW forum and this is normal. I came to ET not expecting to learn more about TA, but felt I could learn more about options. I should mention that EW encompasses chart patterns, Cyphers, wychoff, stages, order blocks etc...but without the foundation of EW you are only getting snapshots.