Welcome to the threads. A low serial correlation only means future price is poorly predicted by past price, not that future price is random.
Without a model of cause, or its equivalent, there's no way to predict effect. Whatever other indicators you're using are carrying a heavy load.
01:36:24 for the exit. Price Failure from failed Prime Support. The exit was arbitrary because I had a phone call. I should have exited a couple minutes later based on the oscillations which would have put me out around1205.25. I added to the short position for the second trade @ 01:21:48 @ 1205.75.
welcome to elite trader, my dear friend. very well said. we are endeavoring to steer our poor, lost proflogic onto testable waters, but he refuses to see the light. despite his intellect, he is trapped in the grand delusion. perhaps i'll see you wednesday......
You need to fix your data. 1203.75 was the low of the day. An that oscillation bottom was confirming a Failure of Prime Support from 1202.50 which confirmed Prime consolidation.
Sorry it was a quicky from your chart. Intermediate Term Double Bottom. For those who are able to run through several fractals and always keep the various trend channel boundaries on them for short term , intermediate term and long term; it is not too difficult to follow what is going on in each successively tighter channel bounds. Especially if these channels are drawn ASAP and are extended through their expected life expectancy based upon what they depict (ST, IT or LT). For me it makes it possible to understand that price never "falls off of the edge of the earth". It also gives a flavor of price continuing to try to reach an equilibrium at all times in the context of the (ST, IT and LT) and, as it does, new insults appear and nudge away to the extent of their source's influence. Greenspans are a good examples; superbowls are not. Whatever your indicator is; it is showing the same pattern as what a double bottom would look like. The slight odd harmonic there is interesting since DB's are nortorious as being biased to even harmonics. Looks like the indicator is going to just touch the upper yellow line for a few of the upcoming days.
Thanks Jack The Double Yellow lines a Prime Resistance & Prime Support levels. Those are the extremes. I use the Ergodic indicator to confirm price tops & bottoms because it doesn't deadhead like the STO or MACD. All oscilllations either between primes or failing primes are conservative trade set-ups based on the trend.