Guilty as charged. As a side note, what I have found quite illuminating, is an accidental exercise, I call the "Avi 8" drill. I had all his posts copied in a word doc a few months ago, because I found them to be very helpful. Upon reviewing them again a few days ago I discovered something surprising: They almost never had any questions in them. So, basically, here's somebody who did not get as much personal attention as some other posters (including myself) in terms of posting questions and getting the answers. Nevertheless, he learned by reading the journal and doing something else. In case anybody missed what that something else is, here's the quote: http://www.elitetrader.com/vb/showthread.php?s=&postid=1667147#post1667147
Touche' !!!!!!!! THis is precisely my point. Sometime back I mentioned that perfect practice makes perfect, not just practice. Many of us here don't know if we're doing it right or not. Who knows, I could be annoating and seeing everything I'm supposed to, with one slight misunderstanding. And, along the way to adjusting that one little misunderstanding, I end up "adjusting" all the stuff I was doing correctly. I'm sure you can see where I'm going with this. ONe ends up being stuck in a failure spiral. And the only way out is through the shear luck that would bring you back to doing what you were doing in the beginning, sans the one little error. Please take the above as a meta-example, not exactly what occurs. I think it does get the idea across. Thank you for your thoughts, Tums.
As I've said before, this thread is Spyder's 'dime' and it is to him that I listen to the most. Like you, I also compare my annotated charts to the benchmark, which is Spyder's chart. Now if I was a sensitive little goy I might get irritated about the peculiar way you have annotated your sentence. But I'm not and I don't. As for being unconcerned with minor differences let me say this. I spent 15 years as a spectroscopist and made a living from looking at whisps of differences, like the loss of an isosbestic point when a third spectroscopically-active species entered a reaction. Which is to say that some of us are fortunate to be able to apply skills learned elsewhere to the process of viewing a chart. I say this not to belittle you, but rather to make the point that we all have unique backgrounds which, if we choose, we may use to make helpful contributions to the content of this thread. lj
To anybody who is having problem with tapes/traverses/channels, I would suggest you to take a look at what Gucci is doing... http://www.elitetrader.com/vb/showthread.php?s=&postid=2004350&highlight=comprehensive#post2004350
Yes I found Avi 8's postings very helpful, I was lucky enough to be in a chatroom with him once whilst we were waiting for Spyder to turn up and he took me through various steps which had the affect of having numerous "AHA" moments. What is continuation in a downtrend? Price heading lower? If price stops heading lower is that not change? ( Avi 8) Where does the 'change' happen for a new channel direction? On point 1? ( Avi 8) What can make a point 1? FTT? VE? LTL Bounce? ( Avi 8) What are the possibilities of price and volume? ( Avi 8) The three ways to go from point two to point three?
NEWS FLASH Everyone who has fail to master the method gets frustrated. Those who do succeed at any endeavor not only persevere, but welcome the personal responsibility associated with acquiring the necessary skills to achieve that success. They don't apply blame of their lack progress to others. They get on with getting the knowledge.
I cheated: Since we 'see' this traverse as having a very steep slope and a very narrow width, we expect to 'see' the market indicate a need to 'fan' out our traverse (hence the BO on decreasing Volume followed by a Sym Pennant). http://www.elitetrader.com/vb/showthread.php?s=&postid=1903756#post1903756
How contextually different this is from the three IBGS's we saw yesterday afternoon. All four (data provider differences aside) the same, yet all four different. Context - the alluring outfit Ms. Market wears as she stomps all over your (for clarity - a generic 'your') firmly held convictions. lj