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I have created 3 independent training networks that look at specific angle of the stock: Cycles, RSI, and a Mix-bag of Technical Indicators such as %R, MACD, Stochastics, lagless vs regular vs adaptive versions..
I have used Daily only. Although i think i should enhance it to perform Multi-timeframe-analysis in the next iteration.
The Cycles show a bottom, along with an over-sold situation in RSI.. whats interesting is the technical indicators do not yet show the same opinion..
I have made a trading strategy that goes long/short when the 3 of them say so.. and gets out of the market when one of them goes out.. I could have also used trailing stops to get me out.. still checking which is better.
The strategy shows that you should be out of the market totally! (thats not what i did last week.. but this makes me a bit nervous about my current JNUG position i took last week..)
I am doing the same analysis for Gold now.. will share results
I am also training it on Weekly bars to compare
“Although i think i should enhance it to perform Multi-timeframe-analysis in the next iteration.”
I’m known for posting EW charts here. But mostly when done by others. (I do weigh in with EW on VLT charts).
My own work is ONLY multi-timeframe (MTF). If you want reliable and consistent guidance, I see no way around that. The software I use handles it explicitly, but it is not without complications. I can get MTF signals on a Tues that vanish later in the week as weekly indicators can change their minds before they stick on Fri.
I do see people undertake conversions to put weekly technicals in daily form (often, multiplying params by 5). I’m quite dubious as to whether that works, or is in any way equivalent. My limited examination of that concept says no to both.
Looking forward to your thoughts. More than one way to skin a cat. Or just as importantly, its useful when different folks using different methods (but with consistent success) arrive at the same conclusion.
MTF analysis is possible. A weekly bar should be taken on it’s own and not based on 5 daily bars which can cause what you mentioned.
I came to conclusion that the gold market is best measured in weekly, then you can use daily to time entry and exit. If daily says up and weekly says up, you can get more aggressive. And vise versa. I’ll post few more charts about that
Very useful material. Thanks for posting
Thanks XEO.
Very interesting
You fit right in here,
Each of us is constantly searching to refine our technical skills and are open to new tools and interpretations
We will follow along with interest and learn from your evolving techniques.
All for one and One for All
PS….can you explain the difference in the blue and red arrows ?
Solid Blue: Long
Empty Blue: Exit Long
Solid Red: Short
Empty Red: Cover Short