Posted: July 19th, 2009; Author: Mike Korell; Filed under: One-Day Market Map
Comments to ChartsEdge »
=============
Thanks once again, Mike and ChartsEdge!
Folks, Mike is providing something new here at his Chartsedge Daily Market Maps (always included in the "other sites of interest" at the right side of the page here). Mike didn't post much discussion to go with these - I'm going to make some comments of my understanding of how to use these. Just be aware this are my interpretation. If you've already read the explanations of the ChartsEdge methods either at their site, or at my "No Bull No Bear No Bias" trading education blog, you know the way Mike generates the cycles forecasts - by "crunching" data from short-term and longer-term cycles into a probable path for cyclic highs and lows during the week ahead. Of course it's just probabilistic. Looks he's now suggesting a way to use pattern recognition, so as we proceed during the week, the actual more probable path for day 2 can adjust using pattern recognition technique, based on what happens on day 1. The graph on top matches the first 2 days of ChartsEdge's week-ahead cycles forecast for gold (which I posted earlier today). What Mike specifically says about this juxtaposition of the cycles forecast with the "pattern recognition" graphs at the bottom of the image (a comment which he posted for a similar juxtaposition for his equities cycle/map, which I'll post next) is, "The Pattern recognition technique will modify the results for the second day based on what actually happens on day 1."
Posts
No comments:
Post a Comment