I need to do a lot of reading & demo stuff until I can completely understand the logic behind your analysis, but so far it seems clear enough even for a total newbie like myself.
Still, I think I'll pass on playing on the market till the point when I understand what I am doing.
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I really appreciate it. Harmonic trading and Fibonacci analysis seems difficult at first and I try to make it as simplistic as possible. I'm glad that someone who is not familiar with it understands my analysis. Check out my links to harmonic trading or Scott carney above. He is the inventor and master of harmonic trading.
Also, it is very wise of you to sit out until you gain a deeper understanding. When you do jump in only trade small amounts at first and slowly build up.
As always feel free to ask any questions.
Thing is, I understand that trading is more of an art then precise science, and I've been doing a lot of stuff like that, and it is all about looking for several factors that point toward the same probability, and I see a lot of that in your analysis.
Exactly!!