Goldtent TA Paradise

Silver versus Nasdaq 100

1. Northstar says:

   December 9, 2019 - 5:34 pm at 5:34 pm

   It’s true that the more touches you have, the more confidence you can have. It shows price respecting the support line. This chart is however a reasonable possibility.

2. Patrick says:

   December 9, 2019 - 6:45 pm at 6:45 pm

   Thanks for your feed back NorthStar… the more I use arcs.. the more I see their versitality. For example.. they can with good accuracy.. give you the courage to get early entries when the right side of the arc is hit (of course has to be assisted by more evidence, like a bullish turnover of the TSI… divergences… etc). The goal of the arc is also not to enter when it exits on the top side (where important resiatnce can be found).. but to ride the ascent towards it.. where mostly likely is a vacuum. #thinkingoutloud

3. Karl says:

   December 9, 2019 - 7:39 pm at 7:39 pm

   touches, versatility — I think the following is just a silly comment, just for fun, about what I expect is a ridiculous concept I read about in the past, but who am I to know?

   Maybe 2 1/2 decades ago there was someone (I’ve forgotten his name) who wrote that his claim to fame () was having come up with a certain concept of underlying parabolas that go off the charts and influence prices. You look at a downward moving pattern perhaps with a slight curvature convex to the left on its left-outside aspect. You then assume it’s part of a parabola, the first arm of a parabola. The imagined parabola then usually goes way down, way below where the prices are, and this imaginary parabola may go way off your chart. In other words, the prices don’t follow the parabola all the way down there. Later the right arm of the parabola emerges from chart Hades. You see, or so he asserted, an upwards moving pattern in the prices that corresponds to the right arm of the parabola after it has emerged from down below. So there’s a significant motion corresponding to part of the left arm of a parabola and later there’s a significant movement of prices corresponding to a part of the right arm of the same parabola. So what you get is a bit of the left arm of a downward moving parabola and later a bit of the right arm of a parabola as it comes up. I hope I am making myself clear. This person stated that if you look for it you see it. I just put it forward for fun while we’re discussing curved things. I have to say although I try to be open minded I am not particularly inclined to believe it and in fact have never made the slightest effort to look for the alleged phenomenon.

4. Patrick says:

   December 9, 2019 - 8:14 pm at 8:14 pm

   Yes Karl, we most definately see what we want to! The arc can easily be broken as candles are added, and the chart morphs. I might just end up drawing a bigger arc to encompass the previous failed smaller arc. The best looking arc are those I overlayed on completed patterns. The clue for the arc usage is to wake you up when you hit the inclining right side. Then you can run your other tools in your framework and see if they signal a buy. Just like fibonnaci isnt end all be all… no single tool is. Weigh the evidence and take the best reward vs risk setup. That is our mission as traders.