PhiSquared2618

If you look close enough you can find these kinds of relationship everywhere =) Interesting none the less.

The relationships can be found without great difficulty.

This subject reminds me of the Cheers comedy episode where Cliff the postman predicts the future president of the US:

http://www.youtube.com/watch?v=mcFTsQC_Dw8

Eliott wave can easily tends to make you focus on reversals, and the money is not made there unless you have extremely fast exits from bad trades.

It is like putting on a telescope to see into the future, when all you want is to use your eyes look at yesterday, least week, and now.

When I traded elliott I found it difficult to stay in trades long enough, because there was always a reversal or ratio line coming up, to encourage taking profits and reducing or even exiting the trade.

But until you figure out elliott wave, you don't really have a good enough understanding of support and resistance.

Have you looked at "Volume and open Interest" by Ken Shaleen yet?

 

Also: it might be useful go back to the beginnings and read Technical Analysis of Stock trends by Edwards and Magee. They more or less said it all 100 years ago!

Key day reversal, island reversal, two-three day reversal. All are useful.

But only one thing matters - is support or resistance holding the price - which is it, and is this a change from before.

I don't think the "one big bar and nothing else showing" problem has been figured out.