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NQ-nalysis
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NQ-nalysis

  #601 (permalink)
Elite Member
Miami, FL
 
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Currently scaling into a short....

my opinion of what may happen

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  #602 (permalink)
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5June_NQview

Watch this tomorrow. My view.

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  #603 (permalink)
Market Wizard
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11June_NQ_View


My View.

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  #604 (permalink)
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@Big Mike

Those of you who made money trading/mapping the NQ with Forks should return their profit to the house.

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  #605 (permalink)
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trendisyourfriend View Post
@Big Mike

Those of you who made money trading/mapping the NQ with Forks should return their profit to the house.

Let us remember, you can find patterns in anything if you look for them. For example, you can create completely random price data and find all the traditional 'patterns' used in technical analysis within it.

Mike

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  #606 (permalink)
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Big Mike View Post
Let us remember, you can find patterns in anything if you look for them. For example, you can create completely random price data and find all the traditional 'patterns' used in technical analysis within it.

Mike

But what about if you use a trendline and you see you are not alone to react when price bounces off of it when price returns there, does it mean it is a mirage? If price find some resistance along this trendline is it just pure coincidence?

If a trader uses trendlines to map supply and demand on a chart to determine where one group (buyers/sellers) is more likely to manifest their presence then are you implying this is nonsense?

Take volume or TPO profile, i use them to map supply/demand. They form a channel while price is moving, sometimes price will react to a previous static VPOC or a previous value area low/high. As you know, these points can be represented by a line. If i use them to form an opinion about the current price valuation does it mean i am using a mirage to form an opinion? If not then what's the difference between a user who can read a chart with trendlines and another user who can read a volume profile chart?

If charts were created by random computers then i would agree with you, pattern recognition techniques would not help a trader much but since a chart is a representation of human expectations then it's my contention supply/demand can be determined using various techniques whether it be VWAP, Market Profile or trendlines.

By ridiculing other approaches you're not going to foster participation.

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  #607 (permalink)
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trendisyourfriend View Post
By ridiculing other approaches you're not going to foster participation.

You specifically asked me to comment on your chart, by name/mention. Otherwise I wouldn't be in this thread sharing my views.

I trust everyone can be reasonable and open to a useful discussion. If not then why invite me to comment, you had to know I wasn't going to agree with a pitchfork analysis.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #608 (permalink)
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canton mi
 
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trendisyourfriend View Post
But what about if you use a trendline and you see you are not alone to react when price bounces off of it when price returns there, does it mean it is a mirage? If price find some resistance along this trendline is it just pure coincidence?

If a trader uses trendlines to map supply and demand on a chart to determine where one group (buyers/sellers) is more likely to manifest their presence then are you implying this is nonsense?

Take volume or TPO profile, i use them to map supply/demand. They form a channel while price is moving, sometimes price will react to a previous static VPOC or a previous value area low/high. As you know, these points can be represented by a line. If i use them to form an opinion about the current price valuation does it mean i am using a mirage to form an opinion? If not then what's the difference between a user who can read a chart with trendlines and another user who can read a volume profile chart?

If charts were created by random computers then i would agree with you, pattern recognition techniques would not help a trader much but since a chart is a representation of human expectations then it's my contention supply/demand can be determined using various techniques whether it be VWAP, Market Profile or trendlines.

By ridiculing other approaches you're not going to foster participation.


I think the diffrence is profile shows exactly what is going on in the market. Vah/val are representations of projected LVN around the current poc. This projection is usually one sigma. Trend lines/channels are similar in a way because you are making projections on where price may bounce. The issue is price usually does not bounce of a strict lvl but off areas. Once you understand the flagging that the mark making hfts create when scaling in you will realize lvls are not as effective as areas. So if you use trend line or profile it's prob. Better to use a channel with a atr as a buffer or with a profile use somthing like the LVN of the prev distribution. But with pith forks murry math lines fib lvls . These lvls are not areas and don't leave room for error, and the projections of these lvls are math drivin so it won't show what is actually happening in the mrk. Just my opinion from a beginner
Ps I think vwap and profile is better than trend channels due to adaptability and less room for user error

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  #609 (permalink)
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Big Mike View Post
You specifically asked me to comment on your chart, by name/mention. Otherwise I wouldn't be in this thread sharing my views.

I trust everyone can be reasonable and open to a useful discussion. If not then why invite me to comment, you had to know I wasn't going to agree with a pitchfork analysis.

Mike

I think users would like more than the random line theory thrown at their face. But maybe a opinion On some other potential approaches to the market with a disclaimer of course.

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  #610 (permalink)
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nightshade View Post
I think users would like more than the random line theory thrown at their face. But maybe a opinion On some other potential approaches to the market with a disclaimer of course.

BigMike has a whole thread on his approach;

https://futures.io/elite-trading-journals/1415-big-mike-s-day-trading-method-advice.html

If he feels some methods are not profitable that's either his loss or your opportunity.

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