Thanks guys,by50, I like you profile stuff and you certainly...

Thanks guys,

by50, I like you profile stuff and you certainly have my attention.

I am still a greenhorn when it comes to trading and have already spent hours searching forums looking for someone to reveal the holy grail. Obviously nobody is going to do that and not just because there is no such thing. However I pick up a lot of small pieces and tiny hints as I read through these posts. While I am pretty poor trader, I am much better with developing software and have developed tools to statistically test and investigate markets for mechanical systems. This is why I focus so much on them.

This level that I mentioned on Friday, from a statistical point of view, had a lot for it. But your approach shows clearly that there are just so many ways to essentially come up with a similar conclusion. The wednesday high is another such example. Should the 'blink projection' indeed be a valid EW setup, then essentially I end up with another mechanical system that had wednesday as a potential turning point. Meaning the likelihood of it actually happening increasing. By the way completely ignoring any fundamental facts.

I don't believe that markets in general follow a universal structure. But the prevailing systems that people use on them enforce some structure. And this might be the one (but only!) good thing about bots .... the rules that govern them become visible.