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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: The Freep who wrote (71210)	4/11/2003 12:57:32 PM
From: the-phoenix	Respond to of 209892

However, what if the last Bradley turn was not the 2nd, but the 31st or 1st... and we've closed higher every day since then? The 31st was also a turn date and was obviously a low. But it was not the last turn. The last turn date was much higher than the 31st, therefore a high. Why does everyone want to make this so complicated? I maintain that the model is useless if it can be fit to whatever your personal market bias. I believe it is very useful with the application of fairly rigid rules and an allowance that it can be wrong, like any other indicator. There are those who want to interpret it so loosely that it is never wrong, which is nonsense, and makes it of no value to a trader. if the Bradley simply says "change in trend on this day for a few days or more" then it could mean anything. I disagree. It can't mean "anything". But it means only that. A change in trend for a few days or more, coming at a specific time. If a trader can't make use of a tool that will tell him that, and be consistently accurate, then I'm sorry, but he's not much of a trader. None of this is directed at you personally, of course.