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This topic reminded me of one comment I had read on YT comment section under Gann planet cycle video (snake oil salesman pitching his stuff)
Comment goes like this:
"My dog is magical, if he barks ones market will go up and if twice market will go down. You don't believe me? Well dogs can sense electromagnetic and tectonic changes "
His dog is probably also richer than most humans, that some dog there
Can you help answer these questions from other members on NexusFi?
Nah nah, I've my hands full with things I'm into already.
Though, there is one little thread called "Random line theory" on this forum, you should give a quick brows to it. It is very interesting read, I promise!
I want to test something. It's simple. Place some random lines on your chart prior to the day opening, and see if at the end of the day you feel like those lines were important (try to imagine they weren't random, but some expensive or complicated …
Thanks, I have started to read it. Yes, I have thought the same about these Planetary Lines (PL) I have on my charts. Basically the PLs are like random lines from which to decide whether to enter or exit a trade.
I also get the feeling that understanding characteristics of price action is super valuable when correlating any indicator (like PLs) with the price chart.
I would like to know characteristics of Time. ie the length of time of price ranges (not just the range in price). Like if the price moves up for 40 mins then a 50% retracement of time will occur after 20mins. etc.
I'm out of ideas on time factor, though I do think there is something called cycles, you can term it as accumulation and distribution and what not. Some do it different ways, vibrations, moonphases etc
That's above my head.
Over period of times I've come to realize that only burning question that matters is acquiring some kind of edge. Usually that edge comes from right side of your chart and not left, and it can't be forced correlations and relations of some kind. People do see water in desert even if its not there, so how do you do it? Its really up to individual to find their way. You have to try lot of things on the way though. Just my 2c
I've tried that previously, market I trade has exhibited similar kind of behavior of changing trend on some number of daily candles, thing is that I've never managed to trade that because I was never sure of if "this time is going to be same"
If I can't trade the idea its better for me to not invest in it. This is combination of many reasons, I figured most important here is it doesn't make any sustainable sense for particular market to keep reversing on any set number of candles to me and hence no confidence behind it. This also looks nice when its nicely picked spot, it looks horrible if its not nicely picked.
I have a trading account but I have yet to take a trade.
Following on from the 29 bar cycle, and before the 60 bar cycle I sent earlier, there is this 37 bar cycle. I have no explanation for this, just observation.