GKP

A question on H&S that I asked earlier (17th January) under KAZ inverted H&S:-

" Question for Remo or anyone. The H&S and Inverse H&S in the learning section are over about 4 months each, if Inverse H&S for KAZ that would be over a year, is that still valid?"

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F4T you mention a H&S for GKP in the short term, which is more reliable for H&S, short-term, 4 months or longer-term?

Obviuosly not just one indicator to be used, but just wondered what chartists views/experience is on what makes for a stronger H&S pattern?

Jackozy,

Ditto. I am afraid that I always come across negative on these boards but it is because I am over critical of everything I read. But note that I am also just as critical in resting my own views.

If I have a position or am looking to enter or exit one, I always start with the negative. What can go wrong rather than what can go right. There is far too much positive bias around IMO, especially with these oilies. On a positive note, it is this positive bias that makes stocks like GKP so profitable to trade.

I also review different indicators (not EWT I might add), but try not to muddle the decision making with too many. If you analyse too long the moment is missed, so experience generally guides well. I have my favorites which I find fairly reliable and stick to that combination. Many have been used and discarded over time. I am a big fan of fibs, candlesticks, trendlines and the main MA's. I like to keep things as simple as possible. MACD divergence is one of the most reliable indicators IMO.

I'll post a line chart so as not to upset the high / low brigade here. Fibs are drawn from extremes of course;

uk.advfn.com/p.php?pid=chartscreenshot&u...ISkg5bmL4fhPHc4Ow9Pw

Your comments are interesting regarding fibs and EWT.


Cheers
F4T

Jackozy wrote: Thanks Shotry.

Not in employment, no, but I did advanced maths and the sciences at A level and then Uni.

No other method makes sense does it? What's the point in always trying to prove yourself right? That's what I see so many chartists doing (especially wrt GKP) and what I used to do myself until I learnt that it's a sure way to failure.

Everyone can always come up with reasons supporting ther view no matter how contrived they may be but you learn nothing from this. The real beauty of doing it the other way round (null hypothesis) is that you get a win/win situation.


ATB

Couldn't agree more, however I find it a constant battle to be objective. Often I manage it, sometimes I fail and it doesn't help me when I fail.

Thanks Shotry.

Not in employment, no, but I did advanced maths and the sciences at A level and then Uni.

No other method makes sense does it? What's the point in always trying to prove yourself right? That's what I see so many chartists doing (especially wrt GKP) and what I used to do myself until I learnt that it's a sure way to failure.

Everyone can always come up with reasons supporting ther view no matter how contrived they may be but you learn nothing from this. The real beauty of doing it the other way round (null hypothesis) is that you get a win/win situation.


ATB

Null hypotheses, not many people understand that principle Jackozy, maybe you were/are a good scientist? If not, maybe you should have been.

Hi F4T,

I like the "wave therapists" name - seems appropriate somehow lol!

Yes, I do use Fibs with my wave targets. IMHO Fibs are actually derived from the initial conditions assumed by Elliott when he did his research so the 2 methods are inter-dependent as far as I'm concerned.

I should also say that I don't only use EWT. I use all the TA methods I'm aware of and then look for a convergence between these differing analyses; the more methods that point to the same conclusion, the more confidence I get for the trade.

On that note, I totally agree with your view and have held that same expectation for quite a while now. I always look for reasons I could be wrong (rather than always looking for reasons I'm right) and I haven't seen any yet on this particular analysis. I'm still looking though.

PS Please post your chart - I'd like to see it!