I agree and do not mean to insult any fellow trader. Truth be told, anyone who tries to make it in this game has my respect. Traders are my brothers and I think I show this by hosting the surf fests with open invites and the other events to which I invite fellow elite traders--- usually at my expense. What have you done to advance the trading cause?? I don't believe I ever insulted anyone personally on this site, other than perhaps a stealth vendor or two who deserved it. Read my posts, I poke at ideas, not people. surf
After spending 2 years reading so many posts, I do think yours are a bit over the top against the PA/TA crowd. Although I do agree that I don't think you've ever been vulgar, your posts are less than useful. I fully acknowledge that the TA/PA crowd isn't showing nearly enough to make an informed decision about the validity of their method, and I applaud your continued perseverance in pointing this out, but in my opinion, its getting to be too much. Too many good discussions that I have wanted to see continue have stopped because you keep saying the same thing over and over again. This is after all the TA forum, so the people who are here are more than likely looking for help with TA, not to be told over and over again that it doesn't work or that only verified statements are acceptable. You had even said that you were warned to stop, and yet you haven't. The thing is that you clearly are a nice guy, and very passionate about your cause, but I do wish you would stop derailing some of these threads. At the same time, I do also wish that some of the experts would step up to the plate and amaze us with some better data. At the moment, we've got Eddiemora and Schizo doing some great calls, but even great charts with trades taken would be a nice addition. Far too many people just talk and talk and talk about TA/PA and don't actually show a chart or a trade. So I'm with you about how all of this might look hindsight and all that stuff if more isn't shown, but honestly, if you were banned from posting in this forum at least, we could probably get more accomplished. Perhaps post all you want in the education resources forum. I think there its really good to have a strong presence of people demanding more proof and I would welcome your objections there, but anytime someone wants to have a thread about Techincal Analysis, you show up and derail it.
Although I don't use market profile, it shows price points where traders are actually buying and selling with very high volume. For a simple strategy, one trader might short at each of these points and then add contracts at each higher point until he make a profit, decides to take a loss, or gets a margin call. A 5 min bar matters more than a 4.7 min bar since most in most charts you can create a 5 min bar and not a 4.7 min bar. This is easy to verify if you took the time to use any of the free chart programs. Most people will use time and not volume since it's easier in most charts to display time. Again, for those that use market profile you can in fact display volume and have no need of time since its a volume based chart and many technical traders do use it to make their trades.
Point taken. My main beef is with folks who make outrageous claims in the name of TA. And stealth vendors who sell empty promises. Rather than Legit TA users. Peace, surf
The real question is why is any trader who uses TA/PA is obligated to come here and prove to anonymous posters with verified statements or repeated chart calls. I know of no trader worth anything who wants to waste time doing that. I certainly can spend a few moments posting a chat but to post charts and trades to prove to a bunch of anonymous internet posters about something that will neither add or subtract to the bottom line is a colossal waste of time. Which explains what those who post so frequently on this topic are doing... I have had long-term success working Heikin Ashi charts into my analysis but will I make more money if I prove to the smurfettes that it works when applied as a tool for analysis rather than a black box system? not really... In fact whether I make money on it or not, affects none of you but many of you certainly waste plenty of time during trading hours trying to convince the other. One side demands proof and traders demand to know how someone who belittles TA/PA can actually trade since without price charts or price information or even fundamentals, you are basically just guessing even more so than everyone else. Bottom line is everyone uses a tool that is simply less than 50% effective all the time so the tool has nothing to do with their success. I cannot believe all of you have this much free time....
I have no idea what happened but I'd go short, looks like the top of a range, bit of resistance from previous support. I'd stop out of half if it broke above previous support, then average at the top of the chart with a tight stop.
In reference to the OP (thread starter) chart...price data is missing from the chart. I'm just not sure if such was intentional. Simply, if you look at your own chart (not his)...you'll know what happen in the price after the last date shown on that chart. In other words...go Long for a few days.