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Thread: Price reversal points

  1. #101
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    kolapo ask fridaystreet (paul) if he can help with the code. I think he was helping code the 121 EA

    Could you imagine a MT4 pattern reconigition software to indentify balance points/potential reversal points and targets using Michael J. Parsons strategy _ Holy Cow

  2. #102
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    Smile Price reversal points

    hi trademonster and fxtrader i am looking at software that will pinpoint those horizontal lines on the chart as something on this post that will be applicable to any time frame. i know it will be possible.Price reversal points-picture18.jpg

  3. #103
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    Quote Originally Posted by kolapo View Post
    hi trademonster and fxtrader i am looking at software that will pinpoint those horizontal lines on the chart as something on this post that will be applicable to any time frame. i know it will be possible.Click image for larger version. 

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    Hi Kolapo,
    Two questions:-
    a) In your eur M30 picture, I can see where the triangle AKC produces the RM point D. But I wonder why triangle AFE didn't produce a RM point at G? It looks like it hit at the half way point of line KL. Was that just lucky that it turned out to be a RM point for swing low L, or did anything else lead you to establish that the intersection of lines CD & AY would be a significant RM point?

    b) What was your reason for extending the line AF; just to see if it might be useful later on?

    c) How did you arrive at the position of the upper yellow horizontal line? Was that an extension of a line drawn way back?

    Basically,my question in a nutshell is why you used high point F in your RM point calculations?

    Mike
    Attached Thumbnails Attached Thumbnails Price reversal points-eurm3019thfeb.jpg  

  4. #104
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    hi blott what you do is create all possibilities of an RM point on the charts, because we have inverses,gaps and structural points, some gives little reversals, at a point you will get an alignment of your projected time with the non lag zigzag, those are major valid ones. it still seems you have not watched the videos yet. take your time and go through the videos.i also validate when i can collaborate what i am seeing to 100% from the balance point.like i said i project the levels and watch the triangulation of price agaist time to happen before knowing its a valid reversal point.Foxy explained it in an earlier post.Happy trading.

  5. #105
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    Hi Kolapo,
    You're right, I haven't even downloaded the videos yet. My download speed for them via Mediaget is just 40 kb/sec but my internet speed test gives 4Mb/sec, so I can't understand why the difference. A friend has put one of the files on his website and I downloaded that at the blisteringly fast speed of 215kb/s! To make matters worse, I subscribed to Mediaget's 'Premium' service, so I shall be complaining soon.

    Is it the nonlag zigzg that draws the swing top & swing bottom + fibs on the chart?

    Cheers,


    Mike

  6. #106
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    yes blott it come out near a reversal wait for the alignment with your triangle time reversal point. use confirmations you will get a reversal.goodluck i am working if we can get a software done that will make it easy for every one.it works on all time frame.

  7. #107
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    I have to say, I've been reading these threads for years and very few have caught my attention, this thread has..
    Looks like you're on to something kolapo

    Thanks for sharing with everyone

  8. #108
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    Quote Originally Posted by kolapo View Post
    hi trademonster and fxtrader i am looking at software that will pinpoint those horizontal lines on the chart as something on this post that will be applicable to any time frame. i know it will be possible.Click image for larger version. 

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    Hi Kolapo, is it just me or is that picture way too small to read? I tried zooming in but the image becomes more fuzzy. Would you kindly PM me this image or someone tell me how to view this clearly.

    Also, with reference to Blott's image, i am trying to understand how you got the first RM (K). Why didnt you take low Point E. Based on point E the RM at L would also be slightly off unless there is a gap on the chart that i cant see because of clarity. Please clarify.

  9. #109
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    Smile Price reversal points

    Hi everyone this is a typical example of how gap influences a reversal.remember that gaps also acts as supports and resistance and it will be filled in time.it sometimes act as balance points,please post what you see so others can learn.happy trading.Price reversal points-picture21.jpg

  10. #110
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    Quote Originally Posted by kolapo View Post
    Hi everyone this is a typical example of how gap influences a reversal.remember that gaps also acts as supports and resistance and it will be filled in time.it sometimes act as balance points,please post what you see so others can learn.happy trading.Click image for larger version. 

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    Hi kolapo,

    It's nearly impossible to see the details on the picture, can you please post a bigger one?

    Thanks!

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