Jack, I need some clarification from you. Back in the Cycle 1 dominant segment drill, why do you insert N Box IBGS Test and Reversal feedback loop to E or Exit loop to X? I mean why a P-measure flow. Shouldn't we get a non-dominant move after a peak? Also, after Z, where do we get the reference volume bar to know whether we have a dominant or non-dominant move? TIA.
You might find my suggestion non-instructive but from my vantage point it is undeniable that you are in a prediction mode. After a peak (provided you correctly identified one) the market always changes its direction. It is the market which provides the answers, not Jack. Look at the charts and annotate. Annotate as thoroughly as you can and the answers to all of your questions will jump right out at you. I apologize for interfering.
I am just curious to see if Jack thinks a depression is still in the cards or has recent events changed the outlook. The market strength has been astounding.
I was trying to be helpful, just like Spyder or Jack. They've helped a lot of people, you know. The help wasn't really efficient and effective if you think about thousands of pseudo scientific posts , but they clam their trading is somehow differrent. By the way nwbprop Spyder claimed is profitable gave up after 8 years... just a thought.
Were I Spydertrader you would have answered in a thankful manner, wouldn't you? Think about it, kiddy or ask nwbprop who gave up after 8 years...
What depression?? Look at the chart back to the 16th century Now look at the chart forward to the 22th century Can you feel me?
sorry about thr delay in answering. I inserted the DOJI in the volume chart the show that timeframe based charts do not have ends of doms or non doms at the ends of bars. A DOJI is the IBGS bar and looking at price shows where in the bar the volume shifts from dom to non dom or vice versa. There are several aspects of the test that make it unequivacle. As many know a DOJI opens and closes at the same price BUT the BBID and BAsk are not on this value during the time of the whole bar. When the price moves through the open exapanding the bar it then has the potential to be a DOJI. When it comes back through the open and goes one tick further, a second yest situation could occur sunce on the first past through open a "color change" type IBGS event hapened. People often complain about the trading cost of keeeping on the correct side of the market. So I put in the exit of the DOJI box after the test is complete and you go to a place that reset the bar count and what is at hand in that venue. This venue is all related to volume. As you will notice cycle 1, cycle 2 and cycle 3 all have this addition of the DOJI for gaining experience, respectively with dom, non dom and finally the combo of dom and non dom. Post cycle 3, and doing the drills of cycle 4 through 10, you do nothing reqally new in staying on the correct side of the market but you do address effecxtiveness and efficiency of extracting the market's offer by using additional tools. The Exact Science" nature of the market comes into view with the addition of knowledge and skills acquired through expereince. What about those who are CW oriented and not getting the opportunity to gain knowledge and skills through expereince? The financial industry is NOT oreinted to taking the market's offer nor profiting from the experience of mind building. Look at covel's most recent critique of timing entries and holding subsequently. He introduces money management and portfolio management are a replacement for trend monitoring and analysis (done scientifically). This is the back bone of CW and CW perfomance shows the consequences. (see trend following research thread for last few days of posts). Shouldn't we get a non-dominant move after a peak?. You have saked the question of the century. I have commmented for years and years to make the point of stating NO. Up/down traders of CW also have an entry/exit orientation. Xyxles 1 through 10 depart from both. Hold/reversal replaces entry/exit. Trend monitoring and analysis (NOT trend following) has a left/right orientation. Please, now and for the future, grasp that tends are build of THREE MOVES. TREND MOVES HAVE AND ORDER OF EVENTS. tHE ORDER OF EVENTS IS MEASURED IN A DATA SET OF CHARACTERISITCS. Look at these characterisitics. Consider sentiment. Review dom and non dom. Look at trend overlap. I will do that also just below. A trend has and overall sentiment. the movements in the trend have two sentiments in parallel with the trend sentiment. The middle move is the opposite sentiment. dom and non dom are identically the same and volume based. The order is dom, non dom ,dom. Tend overlap only exists for part of the first move of the three moves. this is probably why CW based BO trading became so poplular. It is also an important consideration for knowing that you know ar the begining of a move whether it is either a retrace or a reversal. Tend reversals begin trends and retraces are just another name for the middle move of a trend. Alll of this post is filled with nuggets and jems. Trading experience is what allows the potential trader to "put the pieces together". You can do it in either 40 days, 10,000 hours or as in covel take a trip of "eight hazardous years and not get it done at all. I recommend doing the first 5 cyckes in 6 days and taking 5,000 dollars to 3/4 of a million dollars. (See provided Excel). Log as you go to cement the trip in your mind permanently. "Also, after Z, where do we get the reference volume bar to know whether we have a dominant or non-dominant move?" Check volume. dom is increasing and non dom is decreasing. Xyxle 1 keeps you in the market for dom and cycle 2 keeps you in the market for non dom. That the purpose of all thos boxes with the alphabetical labels. A person either does the work or not. Interviewing other traders is not doing work it is just hearing CW repated over and over. Move out of the baox and do the work of the 10 cycles and see the exact science of the market through theory and through the use of tools.
I had no intention to ask "the question of the century" nor motivation to undress Covel's conventional trend following. Allow me to change the question. Suppose I am holding a couple of bars and then come to an IBGS bar, say Bar 10. At intrabar Doji, suppose the test is pass at Z node and change color (sentiment change). If PRV of Bar 10 at that moment is dominant meaning increasing volume versus Bar 9, do I have to Z to P to E to F in the flow which demands the action of Reverse? On the other hand, if PRV of Bar 10 at that moment is non-dominant meaning decreasing volume compare to actual volume of Bar 9, do I have to Z to X which demands the action of Exit? Also, what if the actual volume of Bar 10 before the intrabar Doji test has already hit lock-in volume meaning equial or higher than Bar 9's volume? As we can't have the possibility of above second case of non-dominant volume, I am left with the only choice of Reversal. Am I correct?