Well first it continued to change and then that continued a bit more before it changed for real and continued short. I was on the right side when it did break down at 11:50, which is some consolation for all the "washes" that went before. Come on you experts, tell us how you handled it. === On Expectation vs. Anticipation One has ego invested in it while the other is ego-less.
One could always look to the YM for answers .... <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1575594>
Good point. One anticipates continuation or change. Nothing more. We can't say anything about the length of the moves. Ivo
Guava, I am almost sure it was Nkhoi who posted here once. . . "Look at Spyders charts bar by bar, and try to see it through his eyes." For practice , at end of day, you can take a screen image editor. Take a snapshot of Spyder's chart, and tape all the channels to the gaussians on his charts. Do it every evening, and see after weeks of training your brain to see it as he does, if things become a little clearer.
Sure but before I got the idea: "Well, this is a difficult, lower volume, period, let's look at YM for finer resolution." some time and points had passed. There didn't seem to be a problem until it was kind of too late.. regards, Ivo
In the process of attempting cement my understanding of Jack's PV framework, I've run into a few conceptual questions that I'm hoping someone more familiar with the reasoning behind the mechanics could answer... Are the following statements accurate ? (1) A tape on one resolution is a channel on some finer resolution. (2) A flaw on one resolution is a channel on some finer resolution. (3) The difference between a channel, a tape, and a flaw (at a given resolution) is the rate at which the PV cycle occurs. (typically with rate inversely correlating with volume) Spyder ? Mak ? (anyone else who understands beyond the mechanics?) Regards, - Talas
Talas, This is exactly how I see. You've described the fractal nature of the market with specifics. I have a hypothosis which I am now in the middle of testing: a taped channel will have all (or most) of the noise removed, thereby giving the bar to bar volume histogram an nice stair step appearance. If this hypothosis is not 100% correct, it certainly is largely correct. I am beginning to see usefullness in the ability to look at a chart and "see" multiple fractals all at once.