Separate names with a comma.
Discussion in 'Complete Trading Education- Forex Military School' started by Administrator, Jun 21, 2011.
Please use this thread for questions, answers, and comments on this lesson.
Not sure I understand the reason to show more than one fib level on one chart, you can't tell which numbers refer to which drawing. For instance if I draw X-A and then A-B you can't tell which fib levels apply to the XA and which ones are for the AB. How do I know what I am looking for? The XA levels or the AB Levels....seems like we are just throwing lines out everywhere. Can't figure out what I need to focus on to make a trade.....?
direction of XA swing and AB are opposite, so you can't apply the same levels to both of them.
This is awesome.
In Pesavento's "Trade What You See", he advises you enter at the D point, opposite the trend, figuring the pattern was complete and the market due for a major turn. He does the same for the "222" pattern, enter opposite the trend because the end of the pattern is a reversal signal (pg65). You seem to try to get into the pattern at C and TP at D. Why the discrepancy? I think Dinappoli does it the way you describe. Is there any merit to the counter trend entry?
Hi Wave Rider,
this calls as "Different contexts and trading systems".
Pessavento context for trading is harmonic patterns, while DiNapoli trades trend and use extensions to find entry points and targets in advance. But the context is trend. Pessavento could take profit at point, where DiNapoli will enter in opposite direction. This is just different systems, but they do not exclude each other. For example, Butterfly could appear at top of some AB=CD pattern. Personally I use them both.