Whisky, Prof's last post on this page may be what you are looking for . . . http://www.elitetrader.com/vb/showthread.php?s=&threadid=146039&perpage=6&pagenumber=154
Thank You Wi!son, in the last few pages of "revelation" I actually feel like a load has been taken off of my shoulders . . . it's amazing to think of me just 1mth ago and how far (in terms of understanding) I've come . . . I'm sure I have more to learn from screen time, but thank you again for the clarifications . . .
I'm not sure what you are talking about here. I didn't post a chart, and stated the entry "would be just as price passes the last LL, as shown in the diagram posted above." You posted the diagram, passes = breached, and as far as the actual entry, yes you can wait for the close, which on the 343 is normally about the time it takes to click the mouse. So where is your disagreement? I must be missing something, please clarify. TG
To clarify point #3, the ERG on faster chart usually(always?) changes color before the histogram changes on the slower chart. I presume that as long as it is heading in the right direction, it's safe to move on to #4 ?
I choose to view my current confusion as an opportunity. The way I interpret the rules (I'm probably wrong but consistently so) is: 1-You can wait for the 2401 histo to turn black...and have more confirmation...and increase your risk to the stop...and perhaps miss the move...and...and...and... OR 2-You can apply rule 2 in page 10: "2. Verify Histogram is in Prime but not yet oscillating." (2401), and THEN look for a 343 ERG blue-red, and THEN look for a PF bar sequence. Now everyone knows what a PF bar is (white on both sides). NOW here we are: Wilson says that CONFIRMATION bar has to breach the LL that sets up the PF sequence. I disagree (but maybe consistently wrong). The way I interpret it is that the CONFIRMATION bar only needs to have a lower high than the PF bar, then close, THEN entry is on the next bar open. I agree with Wilson in that the exits are tougher (and more important). Now, if someone could code this... Thanks for the debate. JW
Regarding the Pf bar discussion.. I am too a student that wasted countless weeks trying to apply this method .."my way".. However at one point the light did go off ..and i could see. Here is a daily chart of a wahtever stock..for a swing trade. The clarity it presents gelled the whole method in any chart and or time frame. 1-I marked the histogram going black in prime 2- then price goes down for x bars... (2 in this case) 3-Then price start a "countermove" going up..GOING TO MAKE PF BAR..For 6 bars in a row it created a pf bar higher than the previous one. (Notice how the histogram never changed color during this process) 4 Finally a confirmation bar..which i noted 5-Entry on the next bar open 6- Hang on to your hats This is my rendition...If i did something wrong no doubt Prof will correct me.. Asiago...now that' some good cheese.
ALWAYS, if it occurs before . . . no trade is taken and you wait for another oscillation set up. CORRECT.
PERFECT . . . let me also re-label the "PF BAR" for you as being the "LAST PF BAR". The reason is that the preceeding 5 bars were "PF Bars" too. 1. Candle before Blue up arrow was price bottom 2. Candle at Blue arrow held no significance 3. 1st Candle following candle at Blue Arrow = 1st PF BAR 4. 2nd Candle following candle at Blue Arrow = 2nd PF BAR 5. 3rd Candle following candle at Blue Arrow = 3rd PF BAR (Matching PF Bar) 6. 4th Candle following candle at Blue Arrow = 4th PF BAR 7. 5th Candle following candle at Blue Arrow = 5th PF BAR 8. 6th Candle following candle at Blue Arrow = 6th PF BAR (Top - bar you labeled as PF) 9. 7th Candle following candle at Blue Arrow = CONFIRMATION BAR (You won't know when the last PF Bar bar has been created until the Confirmation Bar is finished) 10. 8th Candle following candle at Blue Arrow = ENTRY BAR (Enter Short on open of this Bar)