Market theory - page 54
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Agreed
And on M15 I'd say price has met some serious resistance :-)
Agreed
And on M15 I'd say price has met some serious resistance :-)
According to this theory, the price does not have a resistance level right now because the Bulls, who organise the resistance level, are busy leading the market and there is a support level organised by the Bears.
You didn't confuse things, did you? Who and what exactly is orchestrating this process?
No, I am sure of what is being said. See in particular here https://www.mql5.com/ru/forum/58256/page32 when the Bears lead the market, the Bulls create a resistance line above price and conversely, when the market is led by the Bulls, the Bears are at the bottom, creating a support line. Maybe, I really do not understand the meaning of support and resistance lines? In principle, if we separate ourselves from the traditional notions of support and resistance lines, I would formulate the processes taking place in the market, within the framework of this market theory, as follows:
If the market is led by the Bears, the Bulls express their agreement by forming an agreement line (support) between the Bears and the price, being above the price level, and when it becomes necessary to arrange the breakeven and the market around the 2nd break-even point, the Bulls, demonstratively, come down to the price, seize the price with or without a fight and drive the market up, and the Bears remain below the price and accompany it all the time being below the price. In fact, the Lion and the Buffalo do all this, always positioned in the middle of the Bulls and the Bears. I can show and prove this statement, backed up by theory, and have repeatedly demonstrated this market mechanism. If this principle is violated, it means that there are peaceful negotiations between the parties or there is an uncompromising struggle for the right to rule the market. Understand, this is a law that I have discovered and it is always enforced without any exceptions.
Now take the proverbial support and resistance levels. There are no uniform rules here. The price will bounce back if it wants, but if it does not want it will break through them like a knife through butter. Then they will say that this time the rule or law did not work. What, then, is the price of this law, if one time it may work, and another time it may not? The conclusion is that there are no support and/or resistance lines in the market. It is all - not confirmed theoretically or flawlessly executed in practice and is nothing but wishful thinking and a figment of the imagination of individual market participants. which are fatal, believe in them some grief-trader. All the more so because they are marked in the form of horizontal lines. which in the market are very rare and purely by chance. On the other hand, who will resist or who should support it, if Bulls and Bears do not do it themselves?
On the contrary, no one will find a single exception to the rule of dictating and supporting the market, which I discovered and described above and see it flawlessly enforced during 2010 without a single instance of abuse! Take a look at the chart and see if you can find any violation of my statement or continue to believe the lies.
And it's not the first time. :)
Your views on the market are outdated, especially since there were no clear rules or give me a concrete example from practice where I was wrong or mistaken, especially if you have discovered it more than once. Produce them and I will demolish them both with theoretical explanations and with practical examples. I repeat for the umpteenth time - the laws that I have identified are equally strictly applicable to the real market of goods and services, as they are in the Forex market. Everyone should take it into account if they want to make a profit in the market, or ignore it and continue to be cannon fodder.
In the conventional sense, the resistance line is created by the bears. Their sales when coming to this level often cause rebounds and price reverses downwards (bears hit the price with their paw from above). And the support line is created by bulls, as their purchases cause bounces and reversals of the price upwards (they kick the price up with their horns). If your resistance and support lines have a different meaning, then call them by another name so as not to confuse them with common names.
Thank you, that's a good suggestion. Here's what immediately comes to mind:
1. "Consensus line" - checked, it is always there, does not redraw, moves continuously and can easily be detected and cannot be confused with any other line, and if this line moves in solidarity with the price or moves without sharp fluctuations according to its own laws, keeping a certain distance from the price - it means there is agreement between parties to maintain the direction of the current global trend, with corrections within this trend, which gives the trader a chance to enter again, safely and strengthen positions in the direction of the global trend. One only needs to be alert when this line takes a course to cross the price line and gets close to an unacceptable distance. Such behavior of the agreement line can be clearly identified in advance, after which a change of trend or preservation of the old direction by negotiations or fierce fights may occur - exit the market until the situation is clarified. In this case, the price itself demonstrates the top of calmness, because the leaders are busy figuring out the relations and by its behavior it is impossible to judge about the heat and drama of the events, taking place in the depths of the market;
2. "Pivot line" - or, Pivot level
Bulls are the ones who play for UP, i.e. they push the market upwards. They start pushing from the RESISTANCE LINE. It is the bulls on the resistance line who keep the falling market from falling lower with their buying.
Start this assertion "blow everything to smithereens". :)
PS: Turns out I was already beaten to the answer.
I'm going to start "trashing" (for good measure):
1. If this rule, why does it not always work, but when it wants to? All it takes is for this "rule" to fail just a few times for you to get drained or. incur significant losses. My line always works;
2. There is no clear approach, no formula, no method, no image of this imaginary "resistance line", some people see it as a straight line, others see it as a slope, a cloud, a butterfly, and it shows completely different "levels" on different TFs ...... The conclusion - there is no clear formalization and it cannot serve as a sure resistance line, whereas the "line of agreement", suggested by me, has a well-founded theoretical basis, the formula for calculation https://www.mql5.com/ru/forum/58256/page54, not allowing to be mistaken even for one point, not allowing for demagogy in its identification;
3. Your resistance line does not produce a signal of a change of trend, while mine gives a clear signal, not only of the fact of a change of trend, but, gives information about the approach of a state of trend change;
4. Your line does not distinguish a correction from a change of trend, mine clearly distinguishes between a change of trend or it is a simple correction.
You could go on, but I'm sure on all points you should admit your defeat, try to object or make new arguments.
Starting to 'spread the word' (for good measure):
1. If this rule, why does it not always work, but when it wants to? All it takes is for this "rule" not to work just a few times for you to get drained or. to incur significant losses. My line always works;
2. There is no clear approach, no formula, no method, no image of this imaginary "resistance line", some people see it as a straight line, others see it as a slope, a cloud, a butterfly, and it shows completely different "levels" on different TFs ...... The conclusion - there is no clear formalization and it cannot be used as a sure resistance line, while the "line of agreement" suggested by me has a well-founded theoretical basis and calculation formula, allowing no mistake on one point and avoiding demagogy in its identification;
3. Your line of resistance does not produce a signal of a change in the trend, while mine gives a clear signal, not only of the fact of a change in the trend, but, gives information about the approach of a state of change in the trend;
4. Your line does not distinguish a correction from a change of trend, mine clearly distinguishes between a change of trend or it is a simple correction.
You could go on, but I'm sure on all points you should admit your defeat, try to object or make new arguments.