This is thread like watching apes flinging sh*t at the zoo. This guy uses a limited rule set, no vol sequence, and does ok. ( 3 vids ) http://www.youtube.com/watch?v=x_EJUcRjQZ8&feature=channel&list=UL ducking out
If you like what you've seen ftt trader doing in his youtube examples using only a small subset of Jack Hershey's method, imagine what can be accomplished by using more layers of this method! ftt trader doesn't use volume because forex volume is either not available or unreliable. Looking at the price bars' volatility and overlap you can compensate for the lack of volume data.
Yes, the 3 videos are interesting indeed ... my last question in the 1st post was : - is there training materials available from him (or anyone / anywhere) that is understandable by a "normal" person ? I haven't seen much answer to that question yet.
Market is in a down trend. Price traded to upper trend wall of a down trend. Trader got short around this price, and was planning to get out if price traded sideways or broke diagonal resistance. His goal was to trade to the lower trend wall of this down trend. He moved his stop down once triangle break occurred to above the break. He hit his profit target, and got out. Normally, I would just have set an automated OCO for stops and targets and not watched the chart. All of this in normal speak and without needing to define or use JH's system. This is pure trend line and trend channel trading defined in several books out there.
Very astute. In the last month we had higher highs and higher lows, is that the definition of downtrend??? If you say such a thing, you might be a Hershey student!!!