My Forex Prediction using Advanced GET - page 16
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You're welcome. Now you explain me some stuff, What is the red PTI value stand for. Also, what are the 3 color lines that appears/? I know i should read more about it, i'm kind of lazy.
You're welcome. Now you explain me some stuff, What is the red PTI value stand for. Also, what are the 3 color lines that appears/? I know i should read more about it, i'm kind of lazy.
Hi, GreatYves:
You are lucky to catch me today, as I am not trading in both forex and Malaysian stock market. I am relaxing, so no problem in answering your two questions.
Red PTI: This is a proprietary indicator of Aget. It means Profit Taking Index (it is a misname to me). If the figure is below 35, the statistical odds for a Wave 5 rally is greatly reduced, and it also increases the odds for a Fifth Wave failure.
3 Color Lines: This is also another Aget's proprietary indicator which is called Wave Four Channels. They are in fact Fibonacci ratios of 38%, 50% and 62%. In a bull market, when Wave 3 retraces, if the retracement is above these 3 color lines, then we can say Wave 5 will be a strong Wave 5.
Sometimes, I use them as an aid for further analysis and at times I do not use them at all. Our final analysis should always be based on "the weight of evidence" as Martin Pring loves to say ie you have to use all the arsenal of technical analysis weapons that you have to analyze the chart pattern.
Kenneth
NOTIFICATION: CLEARER ELLIOTT WAVE CHARTS
Starting from Sat, 8 August 2009, I shall be able to post clearer pictures of the EW charts for our 9 currency pairs showing white and black candlesticks rather than a cluster of black candlesticks as what we are having now.
This will enable candlestick enthusiasts to see the candlestick patterns of their favorite currency pairs.
My thanks to fellow member, GreatYves, who showed me what to do, so that I can now produce better and clearer pictures of the EW charts. However, I am still using doc format to contain all the 9 currency pairs in a single file than capture individually in gif format.
Regards
Kenneth
Morning, Guys:
Here are the EW charts for the 9 currency pairs at yesterday's closing prices.
Compare these charts against those of last week, and see what changes in Wave Labels and Direction have taken place since then. I already have some currency pairs in mind that I want to trade on Mon and would like you to do some study on your own during the weekend.
I shall be going out this morning for the whole day to relax myself with my family; when I am back in the late afternoon, I shall post in the evening a Table of Target Profits and Stop Loss for Intra Day Trading and Risk Management.
Have a good weekend.
Kenneth
Enjoy your day with your family
Hi Kenneth,
I hope that you are having a pleasant day with your family. I am planning to do the same, bc family can give you not just love but the strength needed to keep going.
I am looking forward reading your commentaries.
Best regards,
Daniel
Q: Do you know what is the probability of a string of 20 losses??
A: It is One in 1,048,576 ie 0.5^20. (It does not mean it will not happen, but it does mean that your luck is so bad, that you better forget about forex trading when you have a string of 50 losses. You really run out of luck, man.)
I am this very lucky guy, i win the wipe out account lottery a couple time..
Hi, Guys:
I am now doing a comparison of Friday's charts against those of one week ago to see whether any new developments have surfaced.
Shall post my findings in another 2 hours or so.
See you guys then.
Regards
Kenneh