There's an old adage "only liars pick exact tops and bottoms." And in the JHPV world there's "only liars truly understand Jack in one reading." Tops and bottoms are the easy part! Welcome to the world of JHPV.
It starts before the trough. Look to the ftt of the prior trend, there's where the magic begins. Jack's, retro and rev chron processes support locating these FTT's in realtime. Two ftt's (three trend segments) to one FTT (Trend). Point 1, point one, pt1,....etc. refers to reference points in the geometry of price. P1, T1,...etc. are volume events derived by the 'permission or gating of the measurement of volume'. Phonetically 'pe won', 'te won'. It's easy to mix them up with price points which gives a false false negative. The ID is false, the anticipation is false and the outcome is negative. For me, I'd be anticipating increasing volume, short price. If the prior statement evaluates as false in realtime, then that is a decreasing volume moment associated with a trough with anticipating increasing volume in the opposite direction. This increasing volume is the Dominant traverse XO the RTL and creates a new pt2 outside this previously existing channel. The short and long trends interlock. The basic oscillation is s,l,s,l,s,l, etc. However, at the nodal points of the cycle, price can translate into a different range. Thus fanning and acceleration are added into the mix. Continue or change, positive or negative at that. Locating pt3's are the earliest entry for the shift in Dominance which will happen at the FTT. It's the 'what came before this?" moment. The XO of the RTL is the "duh" moment and if you're not on the right side of the market by then it might be too late, with a case of whipsaw just for you. Back to the chart. Starting at 3/13-3/19 is the r2r. Then three cyclings of 2b2r which stops on 4/4. In this case ipdv, dpiv. Then 4/4 is an FTT and early reversal bar. Your previous answer shows some thought as to the possible upcoming sequences unfolding. That's good stuff.
jack hershey - "I have to do the 8 EE's of the Aband first. Keep "The Pattern" handy. We see trends develop bar by bar. Three price legs make up the ordinary trend. Trends are BEST contained in parallelograms. Three points determine a parallelogram A trader, mentally, shifts from up/down TO LEFT/RIGHT as he gains reasoning abilities. Notice most ET folk have not gotten this far. Sit and reason with me. You have to reason FROM a neutral bias. BE neutral so symmetry can work for you. This cuts the work in half. All trends have the three legs in this order: Dom to non dom to dom. Dom is dominant. Making money proceeds by price advancing in the dominant direction. The parallelogram has two sides which enclose and bound price. As price moves in a trend the dominant movement is from right to left. Notice the RTL and LTL of the parallelogram. Price begins at Point 1. It goes to the left to get to point 2. The OODA of CW trading cannot perceive of this pathway. Betting replaces the path. We have a design thaqt gives a point 1. OODA does not. point 1 is on the dependent variable. We work witth the independent variable to get the dependent variable. DOing WORK is required to build the mind so that the mind has "inference (LTM) to match sensing with the eyes. MA of MADA is DOing work so that the context and PROCESS is percieved. Leg 1 (M1) is a peak to trough to peak movement in the independent variable. P1 to T1 to P2. This (M1) is the dominant move. Next we have a non dominant move in the trend. Point 2 to point 3 in price and, correspondingly, P2 to T2 of volume. T2 is labelled and called T2P for reasons that will be explained later. Bear with me. This non dominant move (M2) goes from left to right as do ALL non dominant moves. Now, you see three points that define the container of a trend. WE learn to enter on the beginning of a ttrend and take its full offer. We take the dominant direction and HOLD. Volume gives us the moment of the turns in trading. Turns occur between legs as momentary events. To handle turns in a timely manner a trader has to be expert. So we BE experts from day one. We spend almost all of our time holding. Holding is where "anticipation" can be carried out. We see EVERYTHING is orderly. So all orders are broken into mathematical elements whereby each progressive piece is defined one after another. Iff someone wanted to step out of CW and OODA, they might think the above schema would define their sought after "Holy Grail". Not so , the above is "gibbberish" to them. In trading, to take the full offer, the process begins at the very beginning and ends where the full offer occurs. We have done M1 and M2, the full offer ends at the end of M3.. M3 is from point 3 (T2P in volume) to FTT (specific EE's in volume). A trend can go on and on as we all see. Similarly, a trend can be cut short by circumstances and various contexts. We will dwell thoroughly on both cases. Fortunately, all of this is handled by using precision and including each and every thing. Thus, completeness is part of the research. I tooled all of this up by using shhets that have precise experssions for all the parts. All that is left is "Putting the Pieces Together" or as others have named it "Getting Tomorrow's Newspaper Today". https://www.elitetrader.com/et/threads/market-system-of-operation.280654/page-13#post-3918739 #121 Dec 24, 2013"
This stuff is still way over my head. Tried to annotate the Gaussian after your comments and I ended up very confused about the recent up move. My interpretation was 4/4 to 4/18 is traverse (though with decreasing volume so maybe retrace in the really big big fractal) with IBGS 4/18 and reversal bar 4/19 followed by a xo from the RTL of the traverse. So the possible future is some kind of dpiv that peaks and followed by ipdv to dpiv again to make another traverse down. At which point we have a bigger fractal channel point 4/18 will confirm as point 3 of a bigger fractal channel.
It’ll work better as you annotate price to build tapes -> to build traverses -> to build channels -> to build channels within channels. The price annotations work concurrently with volume measurements. Gaussians always match their respective trend segments. They always match on the fastest level of resolution. When one steps back to see the forest instead of the trees, the fractal pattern still can be discerned but also momentary trend interruptions are also seen obscuring the pattern from the “ideal archetype.“ Also on the fastest level of resolution are the most frequent signals of change. But nesting channels as fractal formations, the signals get put into the context of which ones to hold through and which ones are change. Taping always starts with the Fastest Fractal First. One could go about from top down by locating the largest channels from the outside in and nesting that way. The first drills Jack recommended are like that, but as one ventures down the path, it leads to the requirement of annotating FFF for greater accuracy in building containers. Even with the uncertainties of PA as it develop’s moment by moment in ever-changing details of manifestation, the underlying principles still can be sorted into piles of always, sometimes and never. Dom->non-Dom->Dom
I have noticed this as a huge oversight and a major deficiency with the "newbies". Jacks edict is to monitor and annotate 3 levels of fractals. I won't explicitly "tout" any particular number of levels as everyone is different in the way they trade, and which pieces, if not the entirety of JHPV, offers confident and comfortable trading. From my experience, trading live with real money, not sim, monitoring and annotating a single level is not sufficient for consistent success using JHPV. Newbies, please take note. Just sayin.
I have newb questions I hope someone can answer. Can FBO's become FTT's? A beginner enters on ftt and exits if fbo occurs, while ftt to ftt is a cause for a reversal. What's the main difference between the two, aside from the fact that one happens from a right to left traverse and the other happens from left to right. Actually for that matter, can ftt's happen in the middle of left to right traverse or is it just considered fbo? This part wasn't too clear to me. Also just random question, has anyone tried JHM day trading on crude oil? Or is it too spiky to find orderliness with it?
No. Can you repeat the question? ftt has IV without an LTL touch (failure to traverse), followed by DV. fbo has at minimum a touch of the RTL. It can be either IV or DV. The failure is the failure of B2B or R2R. Just remember the sequence... DV to get to the RTL, IV to break through. There is/can be some jiggle however, as sentiment, non-dom becoming dom, doesn't happen because there is an RTL on displayed on your screen at a specific location. I understand your confusion. In my definition, fbo needs at least a touch of RTL, therefore fbo does not occur "in the middle". ftt can and frequently does occur "in the middle". Generally speaking, FOR ME, price bars "in the middle" are the "noise" that CW refers to. Trading JHPV has no noise. HTH. It's likely someone else will come by with a more complex answer. Maybe, hopefully for MY sake and yours, with equivalent meaning answers. BTW. CL is no problem, other than the inherent volatility. I have a good friend trading oil daily with JHPV containers, and myself I dabble in CL from time to time. CL is not my thing however.
Wow that definition is crystal clear, at the moment my annotation attempts are getting easier using it. Thanks!