InvestorsHub Logo
Followers 292
Posts 26480
Boards Moderated 2
Alias Born 06/17/2004

Re: pennies2007 post# 69298

Saturday, 09/11/2010 10:14:26 AM

Saturday, September 11, 2010 10:14:26 AM

Post# of 140146
GM board...pennies I think all would have less difficulty on EW prediction if you coupled two things to the charts...Linear Regression Channels and more importantly the Quad Tunnel.
Here I have a 1 hour N/J chart using an LRC and Quad Tunnel...the set of horizontal colored lines on the chart is something I spoke of quite sometime back...they are multi time frame EMA(196) values...this is very powerful for trading...I build it by going to a 5 min and set a red line at the 196...then 15 min and a 196 green line ...30 min blue...1 hr yellow...3 hr purple.By doing this I know the exact tunnel location on 5 time frames of 5 min thru 3 hr regardless of the time frame chart I am viewing.
One thing we all know for fact is that the tunnel is one of our most reliable support/resistance tools and its seen as an atttractant or repellant on all time frames.I especially like 30 min and 1 hr tunnel action.
Having said all that.. prediction using EW only without confirming factual data seems to me would cause constant confusion except for the times that a pair trades in textbook EW fashion.My thinking is that if analysis and prediction is done using methods I suggest then EW would lend itself to predicting upside or downside targets more reliably.
Here is the chart and I welcome any discussion from you folks into EW ...personally...I use it to some degree but the tunnel makes my trading almost boring so I'm set in stone with it.. it seems theres a lot of guesswork and confusion in EW only from what I see on some of the posts and would love to be able to help if possible.



Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.