The Trouble With Scribbles

Certainly is. This is why until the daily bar closes, it is only conjecture. In addition, it doesn't satisfy the characteristics that were defined in the wikipedia article in that it was not at the top or bottom. It was only at the top of the Hourly bar move, not the daily.. It was interesting to look at though. Later today, I will post a chart of the hourly and show you where I would have reversed if I was trading as low as the hourly bar. I'm on daily, so staying short for now.

 

Well regardless if it met all the conditions or not, I know of no signal that has a 100% accuracy.

 

That is true, however a true island reversal is as close as you'll get. They are very rare. It is also interesting that so far today's cash chart has produced a high that just meets yesterday's low. Now that indeed is the definition of filling a gap. Now, will it break through the low or retreat?

 

Given that your intention as the OP of this thread has been to showcase your dismissal of using prior price levels to determine ranges that could indicate levels of interest, the irony of your interest is comedic.

 

Each of my stop loss signals is 100% accurate

Never to be questioned

Never to be ignored

Always to be honored

Exit

RN

 

Yes but your stop loss is not "always" a signal, but a risk management measurement.

 

Always a signal to exit

or (and)

A signal to always exit



RN

 

Here is the hourly today showing where to reverse or take profits on hourly

 

and the 15 concurs with the 60

 

and the 5 min also concurs. All 3 charts agree. The perfect set up for a trade.