Trading = a mirror to your human flaws. Fix them or be fixed.
- Joined Mar 2008 | Status: Name real with real own way | 20,762 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
Price pattern scanner where I choose the pattern 4 replies
Pattern's Chemo-Electric Trading Journal 1,013 replies
chart pattern trading 5 replies
Michael's CHART Pattern trading is back! 0 replies
Weekly trading signal and pattern 0 replies
DislikedHello...
I've just finished reading Larry Pesavento and Scott Carney books and I'm a bit perplexed by the "difference" between their methods.
In the basic pattern, which is ABCD, Larry suggests to use the extension of AB to get to D whereas Scott suggests to use the extension of BC to get to D.
If I can get any input from you guys of which to use, that would be greatly helpful.
Thanks,
y.caesarIgnored
DislikedAs I have understood , Scott uses 2 projection to get to D 1) AB=CD or alternate extention of AB 2) Extention of BC and the area between these 2 projections is the REVERSAL ZONE area. Larry uses only the extention of AB as you mentioned.Ignored
DislikedI think you have said it better than I have
Anyway, I'd like to know whether price is more responsive to reversal using Larry's or Scott's.
Any thoughts?Ignored