Thank you, I will re-review this concept (it appears to be eluding me) Question 1 attached from friday afternoon. I chose option 1 both on Friday and as the basis for my PFC for this morning. Thank you for any insights.
You've chosen to draw an 'Up' tape to a Down (increasing red Volume) outside bar. Does drawing in a Down tape to the Outside Bar change your perspective? Does beginning your tapes from the Outside Bar change the perspective? - Spydertrader
Yes, sorry I am getting sloppy tonight. On that day, I did just that (I think). http://www.elitetrader.com/vb/showthread.php?s=&postid=2177722#post2177722 and came to the same conclusion (option 1)
Now, start the tape from the Outside Bar (not drawing to it) and see if this changes your perspective. - Spydertrader
Great! Now, of the three possible choices, does the market give you a signal as to which represents the best choice? - Spydertrader
At this point I only see 2 possible choices... Either it is PT3 or it is not... Either my thinking is correct or it is incorrect... I am guessing it is incorrect, but I do not know why. I do not see choice 3...
Three ways to annotate. You are currently focused on the result of the annotations. Until you understand the correct M, you cannot jump to A or D. So, one step at a time. Three posible choices for annotations. Line them up side by side. See which the market indicates is correct. - Spydertrader
Based on my understanding (at this time) Option 1 is what the market has indicated. Unfortunately, I do not understand what I am missing here nor can I summon the resources (much as I wish) to perform your request.