Charles Dow's theory - page 93
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"If shorter, it's a correction, longer, it's a reversal." - Here, as always, we're faced with the question of the relativity of market analysis, what is "shorter" and then how much "longer"...
"And in Yusuf's indicator enter the values of zig-zag knees instead of the price" - it won't help anyway, because the most important question - the starting point - is not settled. And until it is solved, it is guaranteed to be useless.
Although maybe the zig-zag will partly solve this question. why partly, because the noise affects it like a baby beating))The projections of the last two rays onto the Y-axis (price) are compared. "Shorter" if the projection of the last ray is less than the projection of the penultimate. And vice versa. It does not matter how much longer. It can be as much as 1 point longer. If the penultimate wave is an impulse wave, the breakdown of its beginning means that the last wave is not a correction but a reversal wave. This is the basics of wave analysis.
The projections of the last two rays on the Y(price) axis are compared. "Shorter" if the projection of the last ray is smaller than the projection of the penultimate ray. And vice versa. It does not matter how much longer. It can be as much as 1 point longer. If the penultimate wave is an impulse wave, the breakdown of its beginning means that the last wave is not a correction but a reversal wave. These are the basics of wave analysis.
I did what I was asked to dohttps://www.mql5.com/ru/forum/359299/page92#comment_20234753
I did what I was asked to dohttps://www.mql5.com/ru/forum/359299/page92#comment_20234753
Now on the eu is such a situation that even without indicators you can see that the trend is down. It would be interesting to see what the indicator will show when the trend is sideways and when the last upper and lower extremes of the zig-zag have not been broken.
The situation on the eu is such that even without the indicators we can see that the trend is down. It would be interesting what the indicator will show when the trend is sideways and when the last upper and lower extremums of the zig-zag have not been broken.
In my opinion, in this case there should be three values when the indicator is not working. This is why I wrote, that the indicator is more of a trend indicator, it uses one-minute chart to enable faster reaction to changes in the trend.
The situation on the eu is such that even without the indicators we can see that the trend is down. It would be interesting to see what the indicator will show when the trend is sideways and when the last upper and lower extremums of the zig-zag have not been broken.
You'll be surprised, but the Euro is more likely to go up today. It (combined with the "friends") is easier there, Friday's pie is still under-eaten.
It won't be long now. Quite possibly. but, I'm still holding my ground, Euro down!
I am determining the trend from the chart. The eu has been going down since January 6. Only 1 day there was a correction upwards.
this trend was not predicted by the indicator?
I am determining the trend by the chart. Since January 6, the EUR has been going down. Only 1 day there was an upward correction.
Now in the States, they can make such a mess that no forecast will save them ;-)