I said, he is not here, if he appears then we can see what he has to say, and DO, and then make a judgement if he is using text book rubbish or not. I have taken the liberty of supplying a live chart for anyone who wants to try and explain what it is they are talking about. It can be easily marked up in paintshop, or similar. J_S
1) You have not "challenged" anyone here but I do understand if you feel like that's what you're doing. 2) The OP asked a question...is it a reversal or pullback ? 3) I believe (my opinion) the OP has learned or already knew that people have different interpretations of a reversal and pullback. 4) The OP has attempted to explain his own understandings of a reversal and pullback regardless if others agree or not. 5) Please stop talking about people you stated are not significant to this conversation even though you know nothing about them. Simply, let it go...I get it and there's no need for you to backtrack your statement via now trying to invite the info over here.
I am glad you get it, so enough bout that. As for the OP, all he has done so far, is taken what looks to be a spreadbet chart, and marked up a box with buy above, and sell below lines. This to me is not explain anything that is not already in the myriad of textbooks out there, and as we all agree, textbook stuff does not work, for if it did, why do so may lose money trading! The OP also states he has an edge, and will not say if this perceived edge is based on text book rubbish, or some other information he has obtained, from where ever. J_S
As WRB stated above, I too want to remain as civil as I possibly can. But I simply do not understand what you're trying to achieve. I don't believe what you're asking is merely a chart. Please be clear what your motive is. Are you here to SHARE ideas with others or are you here to TEACH others like you have been doing in the "Obvious" thread?
Great work to both of you. This is also what I meant by "buffer zone" (see the chart I posted above).
I am here because you asked me to talk about trading. I have no motive, but to ask questions and reply to answers. If someone ignores my question, then to me that raises doubt in my mind. I will share as much as I see fit, as you yourself have openly said you will not divulge the true nature of what you believe to be your "edge". The obvious thread is totally different to this thread. J_S
If I can even add to this chart, there is the previous level, first resistance, well tested a few times with several rejections, then later acts as support, and much later at the end, also provides an initial bounce. I'm not exactly sure what you mean by buffer though. It almost sounds like you're saying you wouldn't trade in this zone and just either buy above it, or sell below it. My thinking is that if your thick blue support like you draw is in fact support, then buying at this line is what is called for, not once it breaks above your buffer zone, just like you indicated with your long actually. So I'm not sure why your buffer zone is almost drawn as a "go away zone" with the crossed lines through it... its as if to say you shouldn't touch anything in here.
I've stated a few times that what I've seen in this thread is not from textbooks I've read. Yet, you have stated just the opposite. Simply, its obvious you and I are not reading the same textbooks. Don't worry, I'm not going to ask you what textbooks you're talking about. In contrasts, I've seen many message posts at various forums on the internet with discussions and chart examples of reversals and pullbacks that's similar to this thread. Therefore, my opinion stands...not textbook stuff but more like message forum stuff from old ET threads and other forums. Seriously, he talks about "buffer zones". That's something I've never seen in any text book but is something I've seen used here at ET before in a prior conversation. Heck, I even did a google search and couldn't find any references to such. However, you think its textbook and there's only one way for you to prove such...right ? As to his edge...it does not matter and is none of your business considering its really irrelevant to his question about how to determine if its a reversal or pullback. Had he started a thread about edges...then I can see where you're trying to go with this. Best you just leave the edge stuff alone considering he's not require to explain anything about it and he seems to not want to talk about it just like others have done the same at this forum...they don't explain their edges with details. That's understandable considering he may not want someone he doesn't like to have access to the info or may be one of those people that believes he could lose his edge if others know about it. P.S. I tend to stop responding to people that I identify as being annoying but it takes awhile (many replies) for me to get to that point. I surely am not going to answer their questions after I reach that point. Thus, its possible others in this thread act the same as I do.
This was a watered-down analogy, given merely as an illustration. But the overall gist was that it's better to wait for confirmation. Don't mean to sound evasive, but that largely depends on the context (to determine entry/exit and not necessarily for determining reversal). Context? What context? Factors like momentum or how far price have traversed from the previous resistance or support, etc.