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Originally Posted by TraderABC
Some events on the charts MAY be due to your broker affecting the price which is random. For example during the news your broker may use the occasion to whipsaw price up and down thus setting off orders and stop lossess, AND make market look like it is predictable and ran by real people.
Could you please explain?
Again I can provide 10000s of randomly generated charts, the facts take from mathematical statistics are:
Randomly generated graphs can have:
Trends
Flats
Triangles
Elliot Waves
Channels (rising tops and rising bottoms and vice versa)
Double tops/bottoms
Fibonacci retracements and everything else.
I hope the price in forex is not random...
Below is a pic of Euro 5 min chart early jan 2003... Look at all the tails... Below Euro pic are randomly generated candles. Also have you seen my pic of randomly generated closes that was almost IDENTICAL to euro rise up to 1.36 in Later 04 early 05 and fall (if I find it I should link it here)?
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Volume is less during consolidation. aslo plays an important part in finding paterns.
Quote:
Randomly generated graphs can have:
Trends
Flats
Triangles
Elliot Waves
Channels (rising tops and rising bottoms and vice versa)
Double tops/bottoms
Fibonacci retracements and everything else.
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Prove it.
-Frank
