Final thought. All my annotated charts may very well be wrong. But then again, is there anyone out there who really does have the true answer ?
One paramount ingredient of this method is to not predict. To live in the moment, so to speak. One might understand correctly most of its elements, while not using them in the spirit of the method. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3445346>
Great chart addition Thanks. I added some lines for an even bigger picture that I had been posting . Correct to look at it this way( bigger picture ) ? Focusing strictly on the container at the moment on this yearly scale. Up until Oct 2007 a 3 part container is completed following the jh method. The next ( current ) container comes along starting from Oct 2007. A dominant leg down followed by a retrace on decreasing volume. Has a return to the dominant side down happen on a monthly chart ? It appears to have done so. On a yearly chart here it looks to have yet to begun according to the method. ...OR, does the fanning that I have added void a breakout ( yearly scale ), and no such down container was being built. The down yearly bar never broke original right trendline if that line is to start from 90-91. Although one can say the right trendline that increased its slope and made a pt 3 up in 2002- 03 is the correct one to break. In that case there is a one bar break of that line and then a resumption of price back into original container. Still the same up container, with nothing more than a one bar down ( yearly bar ) followed by a resumption to upside still waiting for volume to resume? or is this a down container in the works ??? sooooo interesting Good post and chart you provided.
What do you Hershey traders do when the markets get really slow, like the middle of the day.. I can't find any compelling reason to try to make a lot of sense out of the market [NQ] after 11:30-12:30ish..
Understood and thanks for pointing this out. I would like to stress that in no way is it my intention to predict, but to highlight the annotations on the monthly/ yearly chart can be drawn in different ways at the moment and each have a very different outcome. Does ANYONE have A SOLID way to annotate the daily / yearly and say that it is the definite correct way and is to be error free ? Even Jack himself has been pointing out the market has already been past the point 3 of the depression, which the market looks very different from this information. Has Jack annotated incorrectly to draw this conclusion ?? This is no way an attack against Jack Hershey. This thread is not supporting personal attacks. This is about the method. Open views can be posted regarding the method. As I have many times posted I appreciate JH endless contributions, help, and work. I am pointing out there are times in annotating , with all the studying you can apply, that annotations can be taken two ways, and can lead to a very different scenario. User error ? very possible and likely... Could it be the Method itself at times ?? http://www.elitetrader.com/vb/showt...well+past+the+PT+THREE+DEPRESSION#post2905917
So many ways to annoatate... what is correct ? DJI year http://www.elitetrader.com/vb/attachment.php?s=&postid=3445292 DJI year http://www.elitetrader.com/vb/attachment.php?s=&postid=3445272 ES month http://www.elitetrader.com/vb/attachment.php?s=&postid=3440771 ES month http://www.elitetrader.com/vb/attachment.php?s=&postid=3440399 ES month http://www.elitetrader.com/vb/attachment.php?s=&postid=3421634
brother flipbidask, brother flipbidask.... no personals . you are welcome to post about the method and be objective, be real. no dolls either, i have too many. besides they stare at me at night and freak me out.
My suggestion is that you draw only the lines you're sure of, and I'm not facetious here. When you're not sure if a line can be drawn it means that by drawing it you take a guess, you predict. Start with 2 bars, then progress with your annotations using Jack's clean pages. Keep it simple and in the moment!