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Thanks, MP, and a question
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attached, in my finest 2nd grade artwork, is an attempt to illustrate and show how the channels work.
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I have learned more and shed more stress in the last few days than I can believe. Thank you, mp. Through an error in judgement I am experiencing some drawdown, but now have a rough idea of how long I'll have to hold on to it until it reverses.
My question is, looking at the LRC on the GU monthly, we're approaching the bottom, if the channel is drawn from 6/2001 to the peak on 11/2007. That channel obviously is very strong, and seems likely to hold in the near future. Another channel, drawn from the peak to this month has a nice down trend, of which we're getting ready to bounce off the top, if it holds.
In these areas where the channels get congested, near the strong long-term trends, other than just observing, can one estimate the likelihood of bouncing off a channel edges? Do you simply weight the likelihoods based on the timeframe that the channel comes from?
Thanks
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attached, in my finest 2nd grade artwork, is an attempt to illustrate and show how the channels work.
==============================================
Through an error in judgement I am experiencing some drawdown, but now have a rough idea of how long I'll have to hold on to it until it reverses.
My question is, looking at the LRC on the GU monthly, we're approaching the bottom, if the channel is drawn from 6/2001 to the peak on 11/2007. That channel obviously is very strong, and seems likely to hold in the near future. Another channel, drawn from the peak to this month has a nice down trend, of which we're getting ready to bounce off the top, if it holds.
Congrats -- the correct way to use the LRC's for analysis.
Rare indeed does a monthly channel decide to pick up it skirts and head off in another direction --- they are very conservative, rooted in "old world" values, dependable, trustworthy, date boy scouts and West Point Graduates and rarely fall for a lunkhead on a Harley, so you can imagine she will appear at the Cotillion, demure and sweet and virginal , never once having veered from her chosen direction !
In these areas where the channels get congested, near the strong long-term trends, other than just observing, can one estimate the likelihood of bouncing off a channel edges? Do you simply weight the likelihoods based on the timeframe that the channel comes from?
Thanks==============================================
Years ago, I tought a method of judging upside moves and retraces to those without fib indicators using a most precise tool, available to most everyone.
while a number of people had gotten into the act, my favorite was theDixon TICONDEROGA 2/HBwhich was very precise in showing lengths of candle moves and distances from support to resistance and not to forget, expected timespan to hit the LRC !
find one and you should have no problem estimating time to hit bottom
enjoy and trade well
mp
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Years ago, I tought a method of judging upside moves and retraces to those without fib indicators using a most precise tool, available to most everyone.
while a number of people had gotten into the act, my favorite was the
Dixon TICONDEROGA 2/HB
which was very precise in showing lengths of candle moves and distances from support to resistance and not to forget, expected timespan to hit the LRC !find one and you should have no problem estimating time to hit bottom
enjoy and trade well
mpdo you mean that you draw the chart manually on piece of paper using your Dixon TICONDEROGA 2/B pencil?
do you mean that you draw the chart manually on piece of paper using your Dixon TICONDEROGA 2/B pencil?
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AH, YOU GOT ME DREAMER !!
was hopeing to get some ???????? type replies, but youse peeps are too smart for me !
one takes the pencil, measures and arrives at an average candle length on the chart and then measures down until you find how many more candles till the bottom LRC. The method I tend to favor is placing the well sharpened point of the Dixon at the top of a candle, and my thumb at the bottom of the candle, then by moving the Dixon downwards, over the glass surface of the monitor approximating the length of EACH candle left, I get a quick and approximate length of time till bottom.
What it also does is allow you to quickly look at historical retracements of a currency, and estimate a present retracement with your yellow wooden tool (similar to Pinnocchio, perhaps ?) --- if you find solid support at the bottom of your measured length of retracement, you can quickly assume that will be support for the retracement.
Others might like a ruler (the Tiffany TC-12 is a very nice one although the gemstones tend to shine a lot in backlight) and for those rough and tumble types out there, a piece of string or wire works well also as does a stolen and shortened auto antenna !
enjoy and trade well
mp
Why is this picture so big?
Yo Kamper, I have no idea. Think it has to do w/ the option when one saves the actual screenshot from the charts.
Did you draw these trendlines manually?
No, fxmoments, I did not. It's an indicator.
Hmmmm... KGB. I don't know how bad is KGB, wheather it is better or worse than the CIA. I just absolutely abhor the American foreign policy--recent example Kosovo and Serbia. Sparkling tension in the turbulant Balkans AGAIN. The people of Serbia will never forget the 1999 bombing and the embargo...
A hypocritical, morally rotten society, that is what the USA is. Needless to say, I dislike it very much...
Sorry for the digression, just could not help it....
On the other hand totally disapprove the dealer plug-in. My point is, the fact that Metaquotes are Russian is not automatically grounds for negative judgement. I have utmost respect for the Russian people!!!!
On the same note, MP please do not take this personally. I value your contribution to this thread and this forum very much, and I respect your knowledge and experience.
Best wishes,
Stanislav.================================================
Stanislav,
while this is certainly not the forumn to discuss this matter, neither country is blameless in most any situation --- for the balkans, we hesitated in giving anti helicopter missles and caused a tremendous loss of life, but on the other hand, we werent really trying to start a war with Russia either at that moment.
Russia is a country that can never be a democracy as we know it because its culture is one of "One person rule" which will not allow freedom --- the Russian mindset is one of "tight grip", and while we are certainly not free of this (witness Bush and the middle east) our country is cajoled into acceptance while the Russians are simply told to accept or they "go out of sight !"
the history of the United States is not one of having a massive military "controlling" every state, but the Russian "boot" is what kept all the nations that had become the "Russian confederation" under control by Stalin --- Communism simply grabbed each one of these countries and "welcomed" them into the USSR, with Russia being their "saviors !" Russias military, and Siberia, were what kept all the countries together, which is why there is so much trouble now and why Putin shall become yet another dictator !
Is american foreign policy always correct ? Hell NO -- it waffles and weaves, bobs and backsteps, but in the end is probably the lesser of two evils, and "usually" affords some good. BUT given the available freedoms, quality of life and opportunities that abound in America, and compare them to what we call Russia, while factoring in that EVERY country fights to have what IT wants (if they have the power to do so, and the US is one of the top dogs right now) I'll take America over anyplace else at the moment !
Russia put in Milosevic, while Slovenia, Croatia, Macedonia and Bosnia and Herzegovina seceded from communist yugoslavia, starting the war against what was now the Federal Republic of Yugoslavia, consisting of Serbia and Montenegro, and supported by the SERBS of bosnia and croatia --- and so we enter into yet another religious war !
the resultant bombings of Serbia were United Nations and NATO created, and at 78 days were obviously horrible, but Yugoslavia takes the blame for repeated killing of Non Serbs, and to that country lies the blame.
unfortunately, women, children and men on either side had no choices in the matter, which had started after WW2 with the bungling intervention of the victors of that conflict !
but its the programming I refer to, and its obvious that its designed to SPY on people and PREVENT or slow down certain activities.
I use a Russian broker for some situations, and THEY SLOW DOWN EVERY manual entry or exit I take, while i watch their prices drop or raise, depending whats in their favor ! Of course, I use limit orders for most exits, with no stoplosses, but often there are short term trades that i must exit below the true tp because I know they will slip me --- if i get out before the very top, they dont bother (usually)
Do remember, and nothings really changed, before WW2 there were TWO forces in europe to be concerned over --- Hitler and Stalin ---- and the US made its "deal with the devil" with Stalin, but he wasnt trusted then and his legacy is not trusted now, and Putin is putting on a very good show of proving those thoughts !
oh well
mp
For any KGB talking please use this section https://www.mql5.com/en/forum/general
MP,
Let's put aside. As you said, this is surely not the place to discuss it. I certainly disagree on most of what you are saying, but it is OK. We are obviously very different people and personalities. Which is perfectly fine. Please take my sincerest wishes of good health and prosperity, and let's all hope that the world will be a better place!!!
I have been following your posts and I think I have valuable things to add to your wisdom:-) Just want to make sure that what I will say is well grounded with tests and facts. That is all. Take care, and trade well, as you like to say:-)===================================================
It essentially comes down to where one was born, what propaganda we follow, and therefore what direction we continue in --- Its the way of the world, as I see it anyway ! The Serbs and Croats have been "at it" for a heck of a long time, and many "powers" have interferred for thier own ends, and I am not wise enough or in any power to do much about it, one way or another, but please DO note that I am aware of the American intrusions, for whatever might be their reasons, into a lot of places that they are not welcome, with this situation originally being to dislodge Russian influence in the area !
As far as trading goes, I've simply been lucky enough to have survived a number of years, taken LOTS of notes as to how I escaped some horrid situations and pass them on to others ---- now if only I WOULD READ MY OWN NOTES, I might drive the Maseratti and not the VW !
Add your thoughts to whatever i say --- my Dixon Ticonderoga pencil is always sharp !
enjoy and trade well
mp
mpower,
have you received any of my pm's --- i sent two but outbox does not contain them, which I hope does not mean my posts are being stopped.
please reply via email so as to keep down any mailbox clutter
thank you
mp
MP -- another LRC thingie
Not to be outdone by a mere mortal, and needing to defend my carefully crafted artwork, another example of the LRC using (count em) THREE channels ---- go ahead big guy, beat 3 of a kind !
LOL
mp