Spyder, I annotated this after work today using the replay feature. Do you like my masterpiece? For some reason the data stopped near the EOD so the purple channel is anticipated for point 3, but point 2 is there indeed. gooch87
Hello Romanus, enclosed I made some comments of my thoughts. If you have no good explanation of why this would be wrong maybe somebody else could help? Otherwise I would continue to work off a wrong understanding. Thanks.
I noticed the notes of PA after PA on Janders chart... My consciuos has not let me in on this in Realtime yet I recieved a PM from another member last night letting me in on this (Thanks R/R). Of course! how else could the market create a trending day! But I am wondering if there is something else to it. Something which tells us PA is pooping out or "ok, I am getting tired now... Start looking for change" or "The Red Barn is approaching" Something I am not aware of yet... For instance 15:35 also appears to be PA, which is followed by JW on 15:40. So do we take this signal? What tells us this is the Red Barn? Or should we anticipate yet another go around here as well? In other words could we know at 15:40? and if so what indicators are leading us to be watchful for this upcoming signal (if in fact it is change)? As usual, when something is discovered, it generates more questions than answers All time Eastern and [close-of] bar.
The issue here is that the market does not... and since the market is always correct, we need to go about finding out why Please understand, I mean no disrespect towards you or others who posted similar answers. Originally, I posted the drill as an attempt to get you to answer your own questions posted earlier that evening. The thing is, whether you or I or anyone else likes it is just not relevant. It is the market we must listen to and for the 14:35-15:05 timeframe of 12-04 the market did not like that answer. All times Eastern and [close-of] bar.
JMHO, tapes can be drawn starting with the LTL, I find this the case mainly around formations and OB's but do it in several other conditions as well. I don't fan tapes, don't get that part, maybe I missed something. I view tapes a mini price containers, when the occaision arose where one could see different possiblities I drew them and in hindsight learned which ones provided the best information. Now in realtime I'm starting to see which way the tape should be drawn. It is a bit of an art as mentioned here before, and since the thread got back to focusing on them much clarity has come with them. this past week brought more interesting ideas to the tape scheme. If nothing else I feel proper use of tapes has brought clarity to areas that previously had the potential to cause much grief.