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You lost your mind!? My quotes and arguments about trading

  #11 (permalink)

Legendary Market Wizard
Cleveland Ohio/United States
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Platform: Tradestation
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ppmaxim View Post
Give an example Gold 60 min chart
Classic technical analysis says that you need to sell from the top of the channel
Point 1 - we see that the market broke through the trend channel and went up, and then turned sharply and fell down.
This is an excellent example of how a market maker can draw a beautiful trend channel and drive everyone into sales. If you look at point 1 on the chart for 5 minutes, then there is even more interesting.

In my trade I do not use indicators - the most objective is price, volume and reaction to this volume

But how do you trade? Tell me please

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This example is tainted. It is quite likely that in real time your trend lines would have looking nothing like this. Your lines sometimes come close to touching turning points, sometimes not.

In other words, you can make your after the fact lines show whatever you want to show.

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