Thank you for the thoughtful reply, but I am neither thinking nor trading on that scale. I am merely attempting to reverse the industrial revolution in the sense that I want to be my own little cottage industry, metaphorically cobbling a single pair of shoes each day. I have neither the time nor inclination to read as widely as you do. My reading is rather simple: the tape, or more exactly, visual and sonic representations of it. I was in an NQ trade the other day which stopped in its tracks with no discernible reason that I could ever find: no fib, no intraday S/R, no long term S/R, no clear SCT pattern, no extraordinary dynamics, no news, it just fucking reversed. Seeking subtle cues to understanding and acting on such events is what I spend what little intellectual horsepower I have left on. Sorry, Jack, I tried. You are in a different world, which must work for you. I prefer to be the mouse which outwits the trap to get the cheese when no one is looking.
All those patterns are simply shadows of bars 7-9 times higher in time frame. Head and Shoulders are pivots Flags/pennants are Inside bars Double tops, bottoms are two bars with same highs/lows Expanding tops are an outside bar or bars Triangles are pivots with an inside bar. If you see a pattern change to the time to 7, 8 9 times longer and see what I mean. John
Of course and this is why these fractals are not used for making money or the application of algorithms to serve making money.
Joe Doaks KISS............Even Art Cashin, the guy on CNBC says: "We all know it is the second mouse that gets the cheese" KISS, works, let others think they can reinvent the wheel and drive themselves goofy trying to win a game of probability with useless acronyms they are just what we all know as regular technical analysis. Why use acronyms for others copy writed material that has been around for over a 100 years? .. :eek:
Don't think they are fractals. Fractals are identical patterns. These common patterns in any time frame are coincidental and stem from larger time frames. John
Joe Doaks: Construct a Tick chart using equivolume ticks with a bid & ask plot. You will see a lot that defies explanation...
I was the subject of much ridicule by the forces of anti-CO when I propounded an alternative vision of "volume leads price". At 11:40 PT today I was vindicated. See the green vertical line on the attachment.