OK to be completely fair here - Icarus' comments were in a pm to me. I reposted his pm with permission in order to answer another posters question - so that I wouldn't mess up or lose any details in a translation. He and I have had communication in the past, so he had a basis on which to build his comment - to me - around. If his comment didn't work for you, then there is unfortunately, not much I can do about that, other than to apologize for causing confusion. -Au
No need to apologize. I asked for clarification, and I got it: http://www.elitetrader.com/vb/showthread.php?s=&postid=2031092#post2031092 Like I said before the water is wet and can be distinguished from piss by smelling first. Tasting is not recommended.
romanus & guavaman - sorry for butting in. To clarify, I have no objection to Spyder narrowing the discussion however much he wants. I value his posts and this thread. I value icarus's posts as well. If all a person gets out of Jack's writing is an occasional gold nugget, then I'm not surprised that their reaction to icarus's posts is different than mine as well. To each his own. Good trading.
Just to clarify my position on this issue. One gets much, much more than an occasional gold nugget out of Jack's writing. I don't have a problem with icarus's posts. I simply do not tolerate bullshit that's all. Life's too short to put up with it. If moderators are not happy with me being vocal about my dislike of "responses in lue of answers" - they can delete my posts.
My take: 13:15 - failure to break out of FBP, price closes back, lateral continues. I see this type of FTT/LTL bounce quite often. 15:40 - don't see a traverse there. I have R\/R but no B\/R.