I am getting my butt handed to me on a daily basis!

I’ve been working through some older charts and hoped you could provide some clarity, Mr. Hershey. I’ve attached the chart and a portion of the B through K Band sheet for reference. The date in question is 3-21-2013. I hope that my coloring and numbering are clear.

#1
Bar 14 (1040) is noted as EE, Fc. Additional information is given in the text box in the volume pane as indicating that the Fc band = LVBO > T1 > V. The B through K Band Sheet provides a description that the Fc band is when LVBO < T2P (highlighted below). In this instance, both are true -- Bar 14 < T2P (bar 12/1030) AND Bar 14 > T1 (bar 6/1000).
--Should T1 be referenced and not T2P or T2F for the description

#2
A lateral began with bar 15 (1045). I can’t seem to follow your ORANGE and GREEN rays to determine what you did even though there are 2 indications of LAT REV. It also appears that bar 4 (if degapped) was a close outside the lateral boundary. Am I mistaken?
--Would you walk me through the black arrows starting from bar 14, the BookMark placed at the high of bar 15 and the orange ray placed toward the high of the bar 18 (Lat4 / 1100)?

#3
Without understanding the lateral and any reversals that may have occurred, I do not follow the assignment of P1 on bar 21 (Lat7 / 1115). It’s not translating, higher volume than bars 20 or 22 and seems to follow a failsafe REV.
--Would you please explain how bar 21 became a P1?

Thank you for your time. Going through a chart like this and seeing examples of EEs is incredibly helpful in working through this new vocabulary.

 

I'm going to be a little unfair and group a number of items you've posted out of context. My goal is to understand what P3P is and based on a few different pieces of information I've read, I'm just not getting it. Your assistance is greatly appreciated.

Is P3P an End Event, a volume descriptor (3rd peak of a trend) or both? It’s the only value in the Volume Ranges table that is also a value in the Modrian Table (that I've seen). With the other EEs, they are groupings of volume ranges or a comparison of one to another.

I see P3P as a column on the log for where EEs are noted, but it is also listed in the Modrian Table as an n event for SetA and SetD with PP3 as the n-1 event and SetC with PP1 as a n-1 event.

PP1 and PP3 are Pre Primary EEs and occur with regard to P1 and T1 in trends (the beginning). Based on the Secondary Volume OOE, my understanding is the P3P was at the end of a trend. How could P3P be the n event for PP1 or PP3?

 

I tried my hand with a portion of today, 10-3-2013. Attached is the chart. Based on the EEs that I saw, the market went into set D - drift for most of the morning. I finally had a n-1 to n pair with a BO,T1 and PP6 on the Red Failsafe Panel.

I'd appreciate feedback. TIA

 

Corresponding log for 10-3-2013.

 

Attached is the chart for today.

 

Here is a channel version on the 30 min chart.

today had Ve's on the trl so this was set up as an adjacent pane.

 

At the time when it was important, we added the pane.

 

a nother shot of the day progressing.

For those doing channels this is a good way to beging to find point 1 of channels.

Elsewhwere there is a lot of line drawing. If point 1 is not correct then you have garbage in garbage out.

Fanning is shown as well as the VE work

 

these snagits were pulled from our wall Tv.

 

Those of us “doing channels” thank you for including comments relevant to an “old-school” iteration of your methodology.

The idea that all one needs is a single timeframe chart along with price and volume has been so ingrained in me that the only time I look at anything other than a 5 min chart is if I’ve been away from the market for a few days.

It’s been years since I recall you mentioning anything other than a 5 min chart for futures. Was this 30 min chart simply an aid yesterday for your current crew of learners, or, do you regularly use futures charts of time intervals other than 5 min for the ES?

-river