You get the point and let me elaborate. The behavior of price, half of the time (price pivots of support), has characteristics similar to "the ball connecting with the bat". The exact opposite applies to pivots of resistance. Sometimes the ball being hit will result in a single, double, triple, home run or foul balls. In all cases the slit second after the ball is hit we can see the direction. We have no way of predicting the specific outcome but that isn't necessary. We can, by tracking the trajectory, see when the directional move as been exhausted when the slope of the trajectory goes from pushing the ball higher to pushing the ball lower. Now take this analogy and apply it to a chart. If one can find or create an indicator that will show the creation of a support pivot in real time then as soon as this pivot is confirmed the trader knows price will move up until the slope of the trajectory of the bar breaks its upward move by breaking through previous bar lows. Depending on the chart resolution, the lag of one single bar is minuscule compared to the overall distance of each trade. Profit is made from the split second after support pivot is created and one enters the trade to the point the directional slope goes from pushing price from making new highs to dropping price to making new lows. Add to this on top of ones ability to see the longer term direction of price on that particular chart and trading is now fun. Some trades last longer than others, making them more profitable. The other extreme is that some don't last long at all but even on short trades that the slope gives up quickly, the potential of a loss is diminished greatly giving the trader the safety of always having small losing trades for when there is a loss. Hershey does this using price bars during RTH & a volume indicator, I do this using price bars and a single confirming indicator and I have seen others do this using naked price bars. I simply prefer my way because I like the having something to confirm pivot direction and trend. Hershey's method works for others but I don't like eliminating the overnight data and those using naked bars are truly good but they are, for the most part, shorter term traders which I prefer to stay away from. You nailed it with the comment, "Obviously without different opinions we couldn't have a market to trade in . . . " There are many ways to profit from the charts and it is that variety that creates the volatility most of us love to extract our profits from. Thanks for the civil and well thought out comments.
As expected a typical hershey non answer. What's the towel for jack? To wipe the hershey BS off my shoes?
Wow, obfuscation on jack hershey's level. You don't see that every day. You learn that at E.F. Hutton? LOL Obviously I missed something, I thought we were discussing indicators. Not opinions on the market.
Tonka and on.target: You posts were really very reverent and not irreverent as Lucrim suggested. The baseball analogy was very cool and its how radar got its start. For markets we still get the extraspecial advantage of not having continuous functions and instead the equivalent of a photo train in an event series. Two line indicators came into being very swiftly right after data began to emerge from markets. What a great name stochastics is. Why didn't the quants catch on to the advantages of two line indicators? We are pretty lucky that baseball is not two balls (a slower one and a faster one) used in the air and grassy areas which are surrounded by people during regular playing hours. Fly balls and grounders are handled in different ways by indicators and all are playable. Lucrum willl never get straight the advantages of indicators as leading the price traded.
In baseball, if a person is not filling in his steno pad reverently, he has to go take a shower on the way out. Usually most losers dry off. If no one has ever said this to you before, let me be the first: "Lucrim. DRY OFF!"
World class obfuscation as usual jack. probably because, with the occasional exception of volume, they don't lead. they lag, your own indicator buddies even admit that.. I know you're old jack but do try to keep up.