Itâs time to take a look at some failed rising or declining wedge reversal patterns. Here is a very, very famous failed bullish declining wedge reversal pattern. When Patterns Fail http://www.hedgefundcrash.com/2009/when-patterns-fail/
A successful trend reversal is a trend failure: the trend fails to continue. A failed trend reversal, then, could be described as a failed failure pattern.
Trends change - they don't fail. The underlying direction of the market is The Trend. The term "a trend failure" is like saying "a straight curve". It's a complete misnomer for someone who doesn't understand what he is talking about. An honest trader would say, I expected the trend to continue but I failed in my analysis. The trader failed in his judgement, the trend didn't fail - it did exactly what it should and that is change with momentum and energy influences. When you can't describe the problem, how in heavens name are you going to find the answer. Little wonder you are so far off.
Back in 2007 there was a oilfxpro over at forexfactory and other similar forex forums. He disappeared from those forums around 2007 and 2008 about the time you showed up here at Elitetrader.com He used a TA system called oilfxpro simple cable breakout system that he was trying to program or trying to find someone to program it for him. You the same person ???
Pythagoras used to draw two circles, one small and one big and tell his disciples: small one is what you know, big one is what I know. Which one has the larger area of contact with the unknown? If you don't like the idea of being student for all your life, how are you going to intellectually and professionally evolve at all? Or you are not?
And he's here on one hand begging for experienced traders to show him working set ups while on the other trying his damnedest to convince the newbies TA doesn't work and day trading doesn't work. King Loser or what? Then he claims to have a working system His latest beef is that trends fail lol. How can a trend fail? There is a total lack of understanding basic principles. In all this time he can't even read PA but here he is bombarding ET with his wisdom.
IMO, Oily got trapped in his own web, which he is trying to spin in order to catch some trading goodies... That's really sad, because the only way to succeed in trading (and anything else too, actually) is first to become absolutely honest with yourself, with who you are, with what you really have or have not achieved so far etc.
Look at that page and read the junk written on it.Most of it is garbage.Then he says keep on learning (after reading all the garbage) "11." Technical analysis is a skill that improves with experience and study. Always be a student and keep learning. http://stockcharts.com/school/doku....egies:john_murphy_s_ten_laws#know_the_confirm