Thanks very much for the chart and added annotations - I already had it marked as a day for extra analysis... - palinuro
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2155927> EDIT: Looks like the journal will reach 1 119 000 page views this year (using PRV). Thank you Spydertrader and all contributors for the best thread on ET.
Congratulations on your successful journal, and a year of tremendous contributions here and the related software thread.
I shouldn't do PRV calculations without a calculator. The correct PRV number is more like 1 192 800 views .
I am having trouble understanding the statement highlighted in red. Specifically the causality here is difficult for me to discern. The CAUSE (the market had already created a Point Two previously in the day) is connected with the EFFECT (the market has intentions of creating an accelerated point Two). I am unable to see the connection between the two and understand how "the market's intentions of creating an accelerated point Two" is a direct consequence of the fact that "the market had already created a Point Two previously in the day" I have tried to compare how the tapes contain the market move back into the channel after Point 3, but have not found the evidence that an accelerated up tape is indicative of market intentions to widen a traverse into a channel I have also attempted to compare the gaussians this Friday with two other examples where market has widened a traverse into a channel ( 10-03-2008 and 08-28-2008) and in both cases after the 'P2->P3' lateral is broken in the direction opposite to the trend, the gaussian annotations reflected it as a dominant move. No such annotation exists on Friday and one can't make case for B2B here which would indicate P1 to P2 movement as the market creates an accelerated P2 I have also looked at where the market finds itself in the sequence which started from Thursday, but unable to make any conclusions. [/list=1] Determining when the market intends to create an accelerated P2 and/or widen the traverse into a channel remains a task which I am unable to accomplish. I would greatly appreciate any advice which would help me overcome this obstacle. Thank you.
Rather than parse your post which refers to a specific example, kindly articulate what you think when you see the market provide 'Pace Acceleration' on your chart. What does the market say to you when you know you have witnessed Pace Acceleration in action? What do you know happens next? Feel free to use visual aids. Edit: Anyone can feel free to jump in here as well. - Spydertrader