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Replies to #22414 on lowtrade
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lowtrade

06/16/11 4:45 PM

#22415 RE: PlanTrader #22414

I don't know what else I can say. Stockcharts states they use black candles and hollow red candles in the way I explained. Most every other chart website don't event use these candles.

I'm sure if you scan threw all the old charts in the link. You will find some where I completely disregard some candles when drawing trend lines and just follow a trend.

For that matter if your looking for mistakes, I often don't use exact price point numbers, when calculation targets from move start to finish.

Again a chartist is an artist. Each can see things differently, but normally good chartist will have targets close to each other. Some are Picasso and some Rembrandt. If you see the girl in both pictures the artist has succeeded.

The main goal, using TA & charts for trading is to project price movement and when. The patterns which have been discovered over the years, help determine price move targets. All this info is GRAY. And should be understood as gray. While mathematicians try to pin point results, using formulars, there is never a prefect TA indicator or chart pattern, which hit perfectly each time. People are involved in the process.

Your worring about something which is NOT really that important. I don't know what else to say to solve your dilemma with something I said or posted recently, that conflicts, other then I make mistakes. If you find a chart where I use a black candle body top in an upper trend line or bottom in a lower I am wrong techinically. Re draw the line for yourself and trade your breakout point and target. That's what everyone should be doing anyway. Be your own artist.
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lowtrade

06/16/11 5:49 PM

#22417 RE: PlanTrader #22414

I made personal decision in all these charts. They may not be exactly technically correct. But they are what I saw.






My point, SO WHAT, it's not really that important ! The pattern is there, targets close. I NEVER trade for exact target anyway. I always set my targets below chart targets for safety. I have many faults GREED is not one of them. I hope the one thing you've learned from this back and forth is GRAY. Nothing or no one is prefect. (TA, charts, or Chuck) If you see something you don't agree with. go your own direction! Step out of the herd! Be an individual trader. Cee-it and I have learned this. Correct is money in the bank, not charting or trading styles. Keep looking for what works best for you.