If this is another attempt to dis Hersheys method you simply do not get it. More than likely if price is red and increasing you would not be looking to short. You would already be short and watching for an indication of change coming up. In the scenerio you suggest looking for a short would be too late as you could very well be approaching the end of the move.
Actually, such a method would've worked perfectly on days like those listed in the chart. It's up to the OP to figure-out exactaly what type of market to apply the method in, but seeing as how he is already over half-way there, I'm sure he'll be able to do so. Good trading, Jimmy Jam
Thank you, JJ, for the encouragement and the chart post. But I am confused. Which pane was price and which was RSI? They both look identical to me. And be careful about your color coding of volume bars: "It ain't necessarily so It ain't necessarily so De things dat yo' liable to read in de Jack Bible It ain't necessarily so"
LOL, you're a hoot Joe! So long as you stick to the counter-trend days for your examples, you'll be able to convince the naysayers, me I don't need convincing, as I have a counter-trend trading personality, but I think the best money is made trading the trend. :eek: Good trading, JJ
BB, if you would just due your do diligence you would see that I have been here since 5/8/04, and haven't reinvented myself at all. I consistently pound away at the same silliness. JJ, thanks, I will continue to post examples until one supporting the theory occurs, and then declare victory. I had hoped that a "fix" of this morning's numbers would have been revealed by frontrunning, but no go.
If you are not Hypostumus, Art Deco, something Maximus and a few others I cannot remember off hand, the means of expression you share with him is an uncanny coincidence.
BB, there are many false Hypostomi, the paranoid see them everywhere, like ghosts. Maximus is one such impostomus. Few are up to the challenge. Trading therapist Dr. Arthur Deco has been a respected member of this community since 6/18/04, and if he shares a style with Hypostomus, it must be because he is a literate and learned man. But, as is usual for the A-Team regarding technical analysis, you digress into discussion of personalities, a common fault of groupies. I stand by my assertion that the algorithm I sketched in the air represents the concept of volume leading price.