Cows and Horses live in barns, and in terms of the anology, the '10 miles' represents a completed sequence, the barn represents the 'signal for change' needed to make the left turn (take action). Perfect. Once again, the market (my analogy) has shown you where you need to apply focus in order to understand that which currently eludes your grasp. 1. If a trader still cannot define a barn (signal for change), then one need learn what constitutes a change signal. 2. If a trader cannot know when they have driven ten miles (reached a completed sequence), then again, one needs to learn what defines such an event. 3. If a trader knows how far to drive, and knows where the barn sits, but remains unsure of how to make a left hand turn (Take action), then once again, the trader needs to learn when to take timely, and appropriate action. You've indicated that you don't know what a barn (signal for change) is, yet right on the chart (map) posted by Point One, he did have a barn (signal for change). As such, you either can't see it, or see it but do not understand it. Either way, the market (the analogy) has shown you where you need to apply focus. I don't feel attacked (note the use of the 'smiley' face in my post). My efforts were designed to prevent you from allowing your frustrations to create an environment where you transitioned to making incorrect decisions. Then I encourage you to improve your knowledge level. The reason you need to spend more time focused on this area is because you have not correctly and completely built a foundation with respect to the fundamentals. You 'see' things a certain way. However, that way represents an incorrect or incomplete data set. As such, you must go through the process of differenciating that which you believe you see, from that which actually exists. HTH. - Spydertrader
The chart attached is how I would debrief on a coarse level. The red traverses are crystal clear, however, that thing in the middle appears to create a rumble scrumble. It look as if there's nothing to do with it but to seal it off! Or we could head off to the YM and start building a traverse which is more appealing to the eye. The thick red line is there for a visual aspect. Notice how the second red traverse was completed. 2 significant things: see how the market broke out 1 bar**, it also ended its high in the upper lateral zone. At that point you either get lost, anticipate either direction or know the direction. I'm currently at anticipating heading to knowing. Thank god So my anticipated up traverse never came. I didn't fan my red traverse line just so I could see where I'm at. It shows my where the market said " RESET! Let's do another one!" ** Days where we have these huge, long, constantly-needing-to-fan-type of traverse, the fanning will occur with a 1 max 2(IBGS) bars
This is my revision , of a revision, of a revision, of yet another revision of 11-20 PM as tortured as it may be. When traverses and/or channels go on for a while I tend to lose confidence that my annotations are correct so I basically lose count of the tapes and traverses. This period was one of those times. Have mercy on the guava
http://www.elitetrader.com/vb/showthread.php?s=&postid=2189583#post2189583 No mercy or soup for you. lj
Spydertrader, would you be so kind to clarify two of your comments, which I have trouble understanding. The first one is (marked with red): http://www.elitetrader.com/vb/showthread.php?s=&postid=2181422#post2181422 The 2nd one is (also marked with red): http://www.elitetrader.com/vb/showthread.php?s=&postid=2050110#post2050110 Both of these statements are communicating the same idea, it seems to me, - but I am hitting the mental block here and just can't understand what is it that you are conveying. Thank you.