Quote from: bikefront on May 31, 2019, 11:32:52 PM

Quote from: etoimene on May 31, 2019, 07:06:33 PM

Quote from: bikefront on May 31, 2019, 03:49:20 PM

We have already shown how turning points are inaccurate

... or how we don't know how to read them ...

We do. Armstrong says that it is based on Composite highs are where highs or lows are formed on intraday or closing highs. So for example, if it shows that October is a turning point on the monthly level, it means that it is supposed to be the the lowest close for the month or the lowest intraday, or highest close or highest intraday. Same can be done on the weekly level. Many have followed Armstrong on here for years including MA and myself and we both have concluded that turning points don't work, and we have shown why that is the case on this thread.

There´s a misconception about the meaning of "turning point" because people confuse it by the english dictionary meaning. But turning point can be a low/high or simple a breakout in the same direction of the trend. How you use that information is the key point as their value is very limited before the fact and you only have enough information, after the fact. After the fact everyone knows what happen in the past, just need to look at a price graphic on the asset :-)

RS
https://twitter.com/ricardosousaIA