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Evolving Price Action


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Evolving Price Action

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  #1 (permalink)
 JackOfAllTrades 
Kolkata,India
 
 
Posts: 19 since Apr 2017

Hi,

I was reading Brooks price action & going through charts to check it's validity.In doing so,I noticed something.

Edwards & Magee invented trading & currently most algo firms are probably using some form of TA.In the process,it's true that when they start to sell every double top-most double tops fail.

But double tops(& most older chart patterns) evolved into new chart patterns.I don't think currently not all algos using the same patterns,so they may continue to work.Someday they may evolve into other chart patterns or in a distant future can revert back to working double top after many phases of evolution.

Also Edwards & Magee probably didn't list all existing patterns,just the ones more easier to identify just more geometric ones.

I went over some historical charts & it seems to my eyes some unusual shaped patterns have a more than 50% expectancy.I was thinking about noting them down in a journal & to try to trade them.

Does anyone have any similar experience?Would you care to share?

Thanks for reading.

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  #3 (permalink)
ImAmine
Oujda, Morocco
 
 
Posts: 5 since Apr 2017
Thanks: 0 given, 1 received


Thank You for bringing that up. I will check that out myself...

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