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

  #11 (permalink)
Market Wizard
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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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  #12 (permalink)
Legendary Market Wizard
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DavidHP's Avatar
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I see your problem.

You don't know how to draw trendlines.
Perhaps you should show us the time frame (date time etc) of this chart so we can show you what you should have been looking at and draw the correct trendline.

From the chart you posted it appears that you should have been drawing a flag (pennant) and not a trendline, but without the proper context it is impossible to know if you actually posted a 60 min chart and what the big picture was at the time.

ppmaxim View Post
Give an example Gold 60 min chart
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  #13 (permalink)
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ppmaxim View Post
Everything is much simpler. A large buyer bought all the sales on the upper border of the trend channel

Why call it beautiful names?

Because once you understand and appreciate the fractal nature of patterns and the orders of magnitude involved in larger timeframe moves that exhibit exactly the same characteristics, but with millions of players involved, you realise that there is never 'one big buyer'; just many thousands of players that are always going to get taken advantage of owing to their inappropriate degree of optimism or pessimism.

I find it just as amusing as the volume profile and order flow religions; did a volume profile ever tell a price where to go?, or rather is a volume profile simply the shape it is because of where price went and how much got traded at each level. In other words it is just as lagging as any other indicator, just built in Price/Volume 2D space rather than Price/Time 2D space.

Likewise order flow is a great tool to see what was happening, who was aggressive or passive, strong or weak and so forth. But it still won't tell you which way price will eventually go.

Why? Because neither tool or any approach that says 'it was because of the market makers' will tell you anything about why buyers and sellers in the large might have changed their minds.

And also because I like poetry.

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