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SangreDeToro
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Why Does Support Turn into Resistance and Vice Versa?
SangreDeToro replied to AgeKay's topic in Technical Analysis
hahaha - think the algos are feeling each other up :0 -
Hey Forrest - my read on the ross hook was that this particular setup was about anticipating a breakout or stop run - where you'd enter on a stop with the goal of getting a free trade that may keep going but if it reverses you already have the trade paid for. I don't think this is a generic money management approach more so an approach for this impulsive price action. i thunk.
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absolutely possible - i went down this route because a trade plan must be an algorithm and if its an algorithm it can be coded.
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I'm going to buy data from these guys: FOREX Historical Data, Major Indices and Futures Historical Intraday and Daily Market Data - Through Download and on DVDs/CDs. Will post what I think of it. Would be good if anyone has any random months of tick data for quality comparison.
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price is mean reverting generally - when its not mean reverting it is creating a new mean. ie. knowing when the shift is occuring is pretty important so you aren't waiting for ever for a reversion to occur...
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I haven't looked at Nifty but I'd be interested to hear if anyone else has comments on it.