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BobbiDigital
Registered: Jul 2010
Posts: 192 |
04-20-12 11:09 PM
RN,
When you say small TF's build longer TF's, it is my understanding that the longer TF's must then reference earlier snapshots? This makes sense as the biggest elephants of all are at the open of the day. Or to put it another way all TF's are working together to start the day.
Using this logic, in the SPY 5 min vs 30 min there was a definite divergence in the 3rd 'frame' today BUT utilizing the hourly and 10 minute it would have been perfectly acceptable to buy as price went higher.
I may actually be able to create and follow setups now - using short-term PA and larger TF candlesticks (OHLC)...and know why the rules have to be in place
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Redneck
Registered: Dec 2008
Posts: 2359 |
04-21-12 04:18 AM
Quote from BobbiDigital:
RN,
When you say small TF's build longer TF's, it is my understanding that the longer TF's must then reference earlier snapshots?
Yes Sir
absolutely
Quote from BobbiDigital:
I may actually be able to create and follow setups now - using short-term PA and larger TF candlesticks (OHLC)...and know why the rules have to be in place
Set ups and rules become easier to create/ follow once we understand why they must be
and how things all relate
========================================
One other thought I had on the remark I made about interacting with price on a purely mathematical level
There are times to analyze
and there are times to simply be a trader.., and do what we do.. TRADE
Learning to read a chart is a necessary skill and many know how lot o good technical analyst/ annalists out there
Learning to be a trader..., and simply trading now that one not so many get
(everything trading related fails at some point... Or does it, really  )
Possibly something to think through Sir to give you a pathway
Happy Weekend BD
RN
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BobbiDigital
Registered: Jul 2010
Posts: 192 |
04-24-12 06:46 PM
RN,
2 questions for you, I have a very thick skull. Some knowledge just can't penetrate it.
1. Is YOUR first hourly bar:
1. 8:30-9:00am central
2. 8:30-9:30am
3. 9:00-10:00am
I am utilizing it as #3, for all intended purposes. This kind of makes the first 30 minutes it's own thang. Just a little confused.
I also find it interesting that the 4 hour bars are chopped up into 2.5 & 4 hour intervals. It's like a built in hook (lunchtime) for the big boys....
2. Do you attempt to draw symmetric trendlines at tops/bottoms and/or get a different read/expectation when they are not? This is kind of like wedges forming (I get) but mostly I am referring to when they are different planes....
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BobbiDigital
Registered: Jul 2010
Posts: 192 |
04-24-12 06:49 PM
(everything trading related fails at some point... Or does it, really )
This realization is why I have been able to have a little peace of mind (for the first time in 3 years) dealing with uncertainty every day....
My deepest, sincerest thank you sir. You are a true gentleman.
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BobbiDigital
Registered: Jul 2010
Posts: 192 |
04-27-12 03:11 PM
RN,
Kept trying to pile this all into one simple truth...and I finally FINALLY got it
It was tricky thinking outside the box, so I went back inside it 
It's amazing how it really is up to each individual to figure it out. You could (and did) give a step by step guide but if you aren't thinking right, it doesn't mean a damn thing!!
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BobbiDigital
Registered: Jul 2010
Posts: 192 |
06-22-12 07:25 PM
RN,
Still grinding. I saw in another post you mentioned using 45 degree trend lines. Is this just to measure strength or does that TF have to fail if its say 30 degrees?
I am still tying together how congruence across multiple TF's interact. In the mean time I've been seeing simple 'formations' that present good R:R opportunities. For example isn't a wedge just a pennant with a headfake?
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