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To A.J.:
> Surely you'll admit that price action can (and very often does) have a
>
> causal effect on further price action.
Don't get me wrong -- I fully admit that price is used in the decision
making process for a large number of traders. All I am saying is that
the *very last thing* that happens before the price bar hits your screen
is that a buy/sell transaction has taken place in the pit. I totally
agree that traders use a vast array of indicators (including price) to
come to their decisions, however there is still the last step before
price movement -- buying and selling.
> While nothing can predict price movement with certainty, certain
> short-term
> models of TA can yield very impressive results. It is my view that
> the
> serious shortcomings are more a product of interpretation and
> implementation
> on the part of some practitioners, rather than being an intrinsic flaw
> in
> the concepts themselves.
This could very well be the case. You know, "A winning trader can win
with a losing system and a losing trader can lose with a winning system"
and all that.
> Best of Luck,
And to you!
Dave
To Peter:
> detect changes which can warn of market sentiment changing. BUT and
> this is
> a very very big BUT. Here we are talking about short term intra day
> price
> swings. You can research away, but what I think you will find is for
> daytrading, the price is going to lead any other information.
> My main, point is that in short term, ie daytrading, you
> are
> going to find that any and all causitive things show up in price,
> before you
> will see them elsewhere.
Yes, I actually suspected that this might be the case, due to the
fast-paced environment. However, like I said, there can't be any harm
in at least having a look. Thanx for your comments.
Dave
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