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ES 1-28-09




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not disagreeing,but are all these w's usually bearish?
quote:
Originally posted by iowa

not disagreeing,but are all these w's usually bearish?


If they line up with specific fib ratios...doesn't mean the pattern cant fail.
thanks,is there a site that explains how to draw those fibs,or is this yours ,its pretty smart
iowa...you can go to www.harmonictrader.com to learn about all the 5 point harmonic patterns.
thnks VO
Ticks closed +1285 today - hmmmm
Hey Vo

do you have an indicator that plots the Harmonics on Ninja Trader or can you point me in a direction to get it?
quote:
Originally posted by profithound

Hey Vo

do you have an indicator that plots the Harmonics on Ninja Trader or can you point me in a direction to get it?


sorry profit but Im not aware of any indicator for NT that will auto draw the patterns...I do it by hand
Found this EW in the iNET. It depicts the likely wave 4 mess we are in right now. 3 possible wave counts depicted.

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quote:
Originally posted by BruceM

...I'd like to see Roofer post some charts of the main levels ahead of time. We don't need to see the actual ratios if they are "secret". Roofer has posted tons of charts in the past showing lots of median lines and other cool things, so those inspired can take it to the next level if they choose to investigate the ideas or sign up for Kane training. I also have a lot of respect for Jim Kane, the content on his site and his postings here.

Bruce,

Thanks for the vote of confidence. I also have a great respect for the work you have posted in here. I hope you didn't take anything from my 'dilemma of the 'in advance' charts' post personally. I just thought it was important for all the readers to understand, with a trend trading methodology such as mine, just how difficult it is to show anything useful as far as setups. I try to do it every month in my free commentary, and to follow up on what happened, but it is very difficult.

Roofer may have a different view on this because he is more a 'line to line' trader, working with much higher winning percentages than I would have (that's my interpretation, anyway), but with the 5 to 1 reward/risk ratio he likes, you'd still expect way lower than scalper winning percentages, I would think. But, as I said in the other post, I think his desire is to point out things he finds worthy of study, and not post setups that some will try to trade off of, without having done any work.