Looking for patterns - page 271
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At Shchedrovitsky's.
Beautiful!
It's beautiful!
Yes, Georgi Petrovich could...
I was lucky enough to attend his seminars in the early 1980s.
So, I'm just talking out of my ass here, not retelling the thoughts of the great and terrible.
Now about the trend lines on the chart. After opening a position, the trader certainly sees the direction of movement, but the indicator has another task - to recognize the moment of trend reversal, in our case it is a weekly trend. For this reason, until the first reverse fractal, or rather - until the moment of breakdown of its level and continuation of the movement in the previous direction, the trend line is nothing more than a useless decoration of the chart. At the moment of such a breakdown we have 3 significant points: the beginning of an upward movement, the reversal fractal (local maximum from the moment the movement began) and the subsequent local minimum, after which the price goes upward again, higher than the preceding maximum. We get sequentially increasing alternating minimums (2 points) and maximums (also 2 points), the second one has not yet formed, but it is guaranteed to occur above the level of the previous maximum. That is all - we obtained the classical criterion of the uptrend.
In fact, we approximate the price chart by a broken line the tops of which are reversal fractals and the bottoms are local minimums in the area from the reversal fractal to the moment of breaking through its level.
If we start talking about trends of the Weekly rank, here is what it looks like, I do not understand, how can we judge about its reversal from H1?
Here, another weekly reversal took place - today, shortly after midnight Greenwich Mean Time:
what did the reversal happen? Based on the last line, the price just dropped so much that it broke through the Trough of the Intraday Uptrend, so for a reversal to happen, the South trend has to be formed as well
why did the reversal happen? From the last line, the price just fell so much that it broke the Trough of the Intraday uptrend, for the reversal to happen, it needs the South trend to be formed.
Price has never taken it upon itself to walk the TA.
But sometimes it does, but it does not have to go the way everyone wants it to.
Since we started talking about Weekly rank trends, here's what he looks like, I don't understand how his reversal can be judged from H1?
As far as I understand, his system catches reversals within weekly trends.
My understanding is that his system catches reversals within weekly trends.
I heard that too, but I can't imagine any connection between the intraday line and a reversal on W1.
Price has never taken it upon herself to walk on TA.
But sometimes it does, but it is not obliged to do so.
The concept of a trend reversal was invented by technical analysts, it includes 1) the breaking of the previous trend and 2) the formation of a new one. If no new trend is formed, then the market is in a flat, the old trend is broken and there is nothing else - it is a flat.
I've heard that too, but I can't imagine any connection between the intraday line and a reversal on W1.
As far as I understood, his system catches reversals within weekly trends.
Since you do not understand, I will try to put it in another way. It does not catch trend reversals on W1. It catches reversals (or corrections)within weekly trends.
Do you understand the difference between a daily trend and an intraday trend? If you do, you should also understand the difference between a weekly trend and an intra-weeklytrend.
Since you don't understand, let me put it another way. It does not catch trend reversals on W1. It catches reversals within weekly trends.
Do you understand the difference between a daily trend and an intraday trend? If you do, then you should also understand the difference between a weekly trend and an intra-weeklytrend.
To be precise, I quote him as saying, "Here we have another weekly reversal - today, shortly after midnight Greenwich Mean Time:"
There's no mention of a trend. And there is little sense in the expression either.