a) you've never seen a sideways chart? what do you call it when a futures market trades at lock limit for a full session without moving? what do you call it when a takeover candidate trades in a vice grip range for months at a time? Sure, Limit Up in a Bull Trend or Limit Down in a Bear Trend or Limit Up in a Bear Trend or Limit Down in a Bull Trend. Nothing sidesways about that Market. b) you do realize that markets aren't two dimensional, right? that a "chart" is simply ink on paper or pixels on a screen, an abstraction of a collective concept and not the concept itself? Sure, and a picture is just light molecules trapped on photographic paper. c) say you meet a blind trader who has found a way to represent price movement in sound form, via ranges on a musical scale. are you going to tell him markets can only go "up" or "down?" and what would you call it when he gets a continuous tone? Show me any Market that stagnates while open and I will buy you dinner at Morton's. (Stagnate - doesn't move up or down even one tick) Remember a Limit Up or Down move is still a move into (Continuation) or away from (Reversal) an existing trend. d) would you argue with a trader who interprets data vertically and thinks the market goes left and right? Price, when broken down to it's perfect form doesn't need to be interpreted. e)Apparently I must be blind then, because I don't see that at all. Support and resistance are only "fixed" in the sense that the past is fixed; that which has already happened is a part of the permanent record. I guess I would say support and resistance disappear from one place and rematerialize in another, like that guy Raiden from Mortal Kombat. (Anyone remember big trouble in little china? one of the coolest movies ever...) You are not blind just unable to open your mind to the possibility are an exact science being created from random movement. f)When people talk about support or resistance "holding" or being "broken" etc. etc. they are speaking purely in metaphorical terms, to create shared reference to a concept that in reality has no physical properties. There is nothing tangible to actually hold or break except in the trader's mind. Therefore when you correct someone who says float because you prefer to say fixed, you are just being silly. Nothing metaphorical here. I've created a method to map those areas and give them physical properties with perfect accuracy. Oh, and I can prove it. Darkhorse, just keep trading the way you are . . . you make my trading so much easier as you add to the randomness of the Market. The Market is what it is because of traders like yourself . . . God love ya.
....damn painful it was reading this thread.... .... a guy tries to share and he is crapped on by every single poster.... .... so typical for ET .....
Prof, I can relate to your grievances with ET and I do not post anything of value in here as well because of the "general" attitude of the forum. I just came across this thread and read it through and I see your logic and where you where trying to go. As an already successful trader I have learned to never stop learning so if you wish to re open this thread I would be interested in participating. Many people mocked Jack H but I was able to glean some wisdom from his (spyders) posts and it has done nothing but added to my bottomline. Trading is like a mountain top with many paths to the top and anyone that thinks they know it all is just a FOOL.
Someone started this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=146039 We've been posting in here currently but sparsely.
....i also would like to learn more from you... ....especially with the current situation on weekly and monthly time frames.... ..... ET is filled with one-upsters.... ....it is quite impressive when someone is able to maintain their composure and logic despite the ET gorillas..... nice job....