GGPChat

I know its not everyone's cup of tea (tbh I dislike most technical analysis) but here is what I currently have drawn in

My method is purely to notice a pattern in price, draw in a line, replicate it and see if it fits elsewhere

I do it purely to find where support and resistance are, and should they be broken whether that is positive or negative

This is a couple patterns I have noticed
Thoughts?

Anyone else have anything drawn in?

Hi Monty.

What you have is trending channels with your S/R. You can also look left and see if that offers additional clues. Then of course, you can use moving averages, volume analysis and volume at price analysis.

You can also use Fibs and plot them showing retracement and extensions for additional insight.

The only interesting channel I can see from further left is this

Hey Monty.

You can draw channels going as far back as you want.

You asked about S/R. I tried to describe you an additional, and important way to do that by 'looking left'. Apologies if i wasn't clear.

What I meant was, look left for S/R and not another channel. Not saying you cannot do what you did...but if you don't look at the horizontal structures created you will miss that additional insight.

So, look left and plot where S/R could be found as per...

Looking left > For another view, plot fibs low to high (left to right)

Fibs >

Oh yeah horizontal of course but theyre there for anyone with eyes to see, the channels are more interesting because you can miss them

Thanks for the images

You two are speaking double dutch,

What are the tea leaves actually saying to you?

Drink coffee!

You were bound to say drink coffee…..Costa!!!

Bottle Rocket - Liam wrote: ↑Tue Jul 05, 2022 10:07 pm You two are speaking double dutch,

What are the tea leaves actually saying to you?

Nothing, other than for now I would like price to hold above the red line and break above the blue

Each to their own Monty.

Personally i think your (red) lower support line is not the best. Plus for some reason you still seem to be ignoring other insight, even the most basic.

Pardon my skeptism (and perhaps my ignorance) but isn't this like looking for faces in the clouds? I do like the Lasonde curve as it has some logic applied based on historical patterns... I just wonder how long the orphan period will last!

Costa, Bottle already said this was confusing so I posted an image of what I think is the next two important levels, nice and simple

^ That doesn't mean its the be all and end all, it doesn't mean that's all there is to see, again just the next two levels nice and simple

Are there any horizontal supports that have been tested and held longer than the channel lines I've drawn in? what is your time frame

Is there anything you deem more important within the two lines I've drawn? if you feel like I am ignoring anything closer draw it in rather than just telling me I am ignoring something; Its not constructive to say I am ignoring basic stuff and not clarify what.

Gadbury wrote: ↑Wed Jul 06, 2022 10:19 am Pardon my skeptism (and perhaps my ignorance) but isn't this like looking for faces in the clouds?

I will show you a nice example

In October 2021 I tweeted this picture - I said at the time it was disappointing because it looked like we had broken out but fell back below the line
If we revisit that line now, it did fully break out around the pfs announcement and price came back down and tested it two months later and it had become support, nice
So did the line mean anything? I would say it did

Does it mean anything we have been sandwiched between two exact lines for over a year; I would say it does and breaking out either way would be meaningful

Monty wrote: ↑Wed Jul 06, 2022 10:30 am Costa, Bottle already said this was confusing so I posted an image of what I think is the next two important levels, nice and simple

^ That doesn't mean its the be all and end all, it doesn't mean that's all there is to see, again just the next two levels nice and simple

Are there any horizontal supports that have been tested and held longer than the channel lines I've drawn in? what is your time frame

Is there anything you deem more important within the two lines I've drawn? if you feel like I am ignoring anything closer draw it in rather than just telling me I am ignoring something; Its not constructive to say I am ignoring basic stuff and not clarify what.

Monty. What you think in terms of TA is not what others may think. Thats point of analysis no? You chose to ask a question based on a narrow dataset/view of the past. I tried to encourage you 'to fish' and provided a couple of examples.

The two levels you identified are what you have identified. Doesn't make it right/wrong or anything. In fact it's not about being right...or wrong. It's about probabilities. Take your bets right?

Now, you ask a question (horizontal support) yet there is a chart posted before you asked the question that shows the answer to that question. And yes, to your second question. I do... see above. Other cards are kept close.

Monty, i can show you, i can explain to you...but i cannot understand for you.,..but i think i do understand you.

On a final point. From a TA perspective I do not do timescales. I do prices, levels and rules. From a fundamental perspective then I do use timescales.

Similar to you misunderstanding me using a very simple example of punctuation in writing vs spacing on websites, I think one of us not being able to comprehend the other is very true..

^ I can also be condescending

How has this moved forward the conversation?

Why not cut out all the posturing and just posts some charts and what you're looking at as important areas.

Monty.

You wrote "Are there any horizontal supports that have been tested and held longer than the channel lines I've drawn in? what is your time frame"

I answered with a chart. I also told you i do not do timescales. That is not posturing it is answering a question.

You also wrote... "...posts some charts and what you're looking at as important areas."

Look up there ^^^^. Like i said, i answered your question. I do make use of layouts... I made a simple layout for you. I have a ton of info on my charts as they are a constant WIP.

Finally. I do share charts and my work. Ask around!

'Bonkers' used to do TA charts for many companies. Not sure if it is the same person on here but if so would not mind having that type charts for GGP with commentary posted here.

I took that line from my reply to Gadbury above where price broke out from originally in October 2021

If you just copy/paste it, it fits perfectly, especially in recent months

Can anyone look at this and think these patterns are just random? SP is pinging between top, bottom, top, top bottom etc, undeniable no?

Oooo, look...top, bottom, top, bottom....

All 3 indicators - Stochastic, MACD and RSI indicate it should be a positive week, and that it may have bounced off the bottom and more importantly could bounce further? With SD in London for the 'live' webinar and meet up this Thursday, says to me that maybe an RNS is imminent prior to Thursday? Otherwise, if he didn't have anything exciting or new to say, why would he be here? All conjecture on my part, but has been announced at very short notice.