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Maybe all the charts and systems and computer programs and looking back to see what is ahead are all together not as good as one guy's advice about gambling on sporting events. He said this many years ago and his name was Jimmy the Greek. What he said was "What is due to happen is what has been happening until it doesn't happen any more"
Now, that wouldn't forecast turns and it wouldn't give out guesses on direction for the future beyond the immediate future but on the other hand, think about how things would have worked out for you had you followed this simple tenant. *IF* one assumes they can use some system to pick the turns, you would have missed at least one day of a counter direction move before you hit the "until it doesn't happen any more" and I suppose doing this would make you a momentum player in today's tech language. All I know is it has been working for me and I'll give up the exact turn dates in return for being on the right side a high percentage of the time and doing so with just a glance at the immediate past.
Still, if you believe in the old addage "don't fight the tape" then this method of following the tape has to at least have some merit. Good trading to everyone
Bob
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