You must expect a reaction when you claim that Jason Stapleton is a talented “trader”
JS success as a trader can certainly be compared with my talent as an opera singer in the shower . !!!
JS … SMART yes and no … …JS is a talker that attracts a certain kind of desperate people who buy expensive futile indicators and analyzes and analyses of all the world economic problems,
The Advanced Pattern Trader
JS and other gurus that you mention in your post.
I do not doubt for a second that they have good pedagogical skills to teach away their material.
The question is whether it provides a good enough basis knowledge that gets you to develop as a successful trader, or whether it is a dead end that you can not get out of !!!
[B]My claim a dead end.[/B]
[U]Here come the criticism, all who posted maps and analyses in this thread are blind hens that have gone blind in harmonic pattern and fib …
[B]They do not understand the underlying causes behind price movements, an enormous amount of knowledge that should be included in an assessment prior to making an entry based on a harmonic pattern
A small quiz, posted earlier by me in this forum
Under you find a list with 24 price behaviour you often find with reversal .
How many of them are you aware of … or do you only trust in a pattern and fib !!!
Reversal signals all traders should be able to understand
Example bull reversal in a bear trend …
- Strong bull reversal bar ,large bull tend body and small tails or no tails.
- The next two three bars also have bull bodies that are least the average size of the recent bull/bear bar.
- The spike grows to five to 10 bars with out pulling back for more than a bar or so ,and it reverses many bars ,swing highs ,and bears flag of the prior bear trend .
- One or more bars in the spike have a low that is just one tick above the close of the close of the prior bar .
- One or more bars in the spike have an open that is above the close of the prior bar.
- One or more bars in the spike have a close on the high of the bar or just one tick below its high.
- The overall context makes reversal likely, like higher low or lower low test of the bear after a strong break above the bear trend line.
- The first of second bar of the breakout has a close that is above the highs of the many prior bars.
- The first pullback occurs only after three or more bars.
- The first pullback lasts only one ore two bars , and it follows a bar that is not a strong reversal bar.
- The first pullback does not hit a breakeven stop ( the entry price).
- The spike goes very far and breaks several resistance levels like the ma, prior swing high ,and trends lines and each by many ticks.
- As the first bar of the reversal is forming ,it spend most of it time near its high and the pullbacks are less than a quarter of the height of the growing bar.
- There is a sense of urgency .You feel like have to bay but you want a pullback ,yet it never comes.
- The signal is the second attempt to reverse within the past few bars ( second signal).
- The reversal began as a reversal from an overshoot of a trend channel line from the old trend.
- It is reversing a significant swing high or low(e.g., it breaks below a strong prior low and reverses up).
- The high 1 and high 2 pullbacks have a strong bull reversal bars for signal bars .
- It has trending “anything “:closes highs ,lows ,or bodies.
- The pullback are small and sideways.
- There where prior breaks of earlier bear trends lines (this isn’t the first sign and bullish strength).
- The pullbacks to test the bear low lack momentum ,as evidenced by its having many overlapping bars with many being bull trend bars.
- The pullback that test the bear low fails at the Ma or the old bear trend line.
- The breakout reverses many resent closes and highs . For example, when the is a bear channel and a large bull bar forms ,this breakout bar has a high and close that are above the highs and closes of five or even 20 or more bars .A large number of bars reversed by the close of the bull bar is stronger sign than a similar number of bars reversed by only its high.
So forum members im afraid mostly of you who have trying to read this post is complete Greece for you ,
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