BOB = Bounce off Bar? In my youth, pre-decimalisation, a BOB was a shilling, equal to 4 thruppenny bits!
"thruppenny bits" isn't that Cockney rhyming slang? Half a crown and two 'n' six, showing your age there Mysteron. DT it's definitely part of a program, most of the pages and charts look like presentation slides. Only half way through it, should be able to discuss it better post weekend. You're in Bangkok aren't you? Still going off over there then...
Blimey, it's like the blind leading the blind I'm guessing from your handle that BOB is Big Outside Bar n'est pas? Actually, I'm pretty sure that I said that last night.
You guys do struggle with Mr Cryptic I think you will find that it is an old TA term, "Blow Off Bar" which in more modern parlance is a long tailed candle which is either a hanging man (top) or hammer (bottom). The relevance of those is that they mark a serious rejection of price and big money taking the opposite side to exuberance or panic. As he describes the mark on the generals. The sad thing is that such pointers are only really relevant at beginning and end of trends which is not exactly helpful for jumping in intraday. If you read his cryptic poem type thing and think toilet humour then he made it quite clear. Wow this is again one mighty long journey to get absolutely nowhere. I hope none of you guys are hoping to trade in this decade
Hmmmmm, big outside blow offs...is that even legal? Whatever you choose to call them they indicate the same underlying market dynamics. But the question is, why use bars at all? Show me a sequence of bars on your chart, I'll change your baseline period or offset and show you a totally different sequence of bars. Candlesticks are only any good for killing Colonel Mustard. Real generals use much more effective weapons.
I feel sure that you could re-compile the data I use and whatever I display them as to something completely different that had a totally different meaning. When I use probably one of the most accurate data providers available and show data in 6 different formats, why would I wish to change something that works for something that by default wouldn't?. If your point is that underlying market dynamics rules then I am in total agreement and it doesn't matter what shows it providing something does. Big Outside Bar is it TE?
DT, contrary to what most think, as someone has just posted about BOB's and how they are no use for daytrading, well, as I keep saying, very few actually know how to use them CORRECTLY, for, if they did, they would not make such silly statements, but, we will let them think as they do, for that is how it should be As for ze generals, we have already covered what we need to know about them, as there are OTHER things we also need to know in order to make some GOOD money daytrading. Look at BDX today, notice anything TE
Yes, I'm not going to read it anymore, This thread has really no value. Anyway I put a short set up for day traders.