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originally, i observed on charts that markets had a tendency to
bottom/top once a series of 8 or 9(or more) consecutive closes less
than/greater than the close 4 days earlier occurred. obviously, "8" is
fibonacci and i inititally used that but 9 worked better and, as someone
brought to my attention later 9 "4 versus 4 " is fibonacci as well, i.e.
9 + 4 =13. This was all done visually over 22 years ago. someimes
markets resumed trends after nine and others continued and that's where
countdown comes in--13 closes versus low/high 2 ago. variations can be
applied other than close verus high/low such as low/high versus low/high
2 ago.
also important is the lowest price(true low) of the setup-up or highest
high of setup down. these serve as trend turning points and provide
clues as to whether markets reverse after completion of setup or
continues through countdown.
i know this can be computerized by all variables must be included and
the exits must be established. intentionally, i have left this endeavor
to the users because i believe that my settings may not necessarily be
the best. i had hoped that others would stumble into better settings and
save me the time.
all in all, i have created indicators and not turn-key systems because
they are not necessarily the optimum.
"trading markets includes a great deal of risk and there exists no
guarantee of profits, regardless of past performance.traders must be
prepared for the unexpected and the potential of total loss of capital."
this is no solicitation and is presented for educational purposes only.
no representation of accuracy of profitably is made.
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