Bob, I rather get the impression that you are trying to intellectualize all this. Why not keep it simple? After all you are the author of that brilliant video, you simplified the laborious task of drawing channels for us. I can do them in my sleep now. Post a chart when asking questions, highlighting the areas of difficulty. From where I stand, sometimes you come across almost demanding, just be humble when asking. We have some lovely people here, let's keep peace and move on.
It's a matter of how aggressive you are ... You're correct: that was a sym BO. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1625830>
I don't know what you want from me. Take a look at my first post today. If there was something inappropriate in that post, please tell me what it was. I didn't drag this conversation into the mud. I asked straightforward questions, worded as specifically and briefly as possible in order to convey the message. If that is not adquate, then please describe by what standard you wish questions to be posted. Funny how you now are poking fun at the length of my posts, when Jack's posts are orders of magnitude longer. It's sort of like telling a salesperson to go do their job and do it right, but limit how much you talk to the customer. And, once again I notice that you chose to completely ignore the questions asked. Do you really believe I'm the only one who doesn't know the correct answers?
For me, your example really doesn't provide enough context for a meaningful conclusion. In your situation, from the above answer I'd conclude that I look at the market, JH method, and those bars, too narrowly. So I'd pull back, and try to look with new eyes.
I can understand why you think that. To some extent I am. On the other hand, if I didn't really, really, really, understand the channels from the ground up, I coulnn't have created the video. I'm now trying to achieve the same level of understanding with the PV relationship. Unfortunately, the way it has been laid out is incomplete and leaves open many questions.
Ok, first one in a while, been concentrating on stocks/needed a break from this to clear my mind. One thing I noticed right away after the transfer to stocks is that i can "read" the stock I'm looking at in much the same manner that we aim to "read" the ES very easily. Maybe I just need more time to get acclimated to the 5 minute pace or something. But I definitely noticed that since I was somewhat distracted in stocks and not so focused here, that annotating/ making the change, continuation decisions to be much less stressful. , BIG
Thank you for your thoughts. Let me be sure I understand, you're suggesting that one sort of zooms out, to see the bigger picture. RIght? Therein lies the crook for me. I will make this probably too short, let me know and I will expound. Defining change/continuation is based on trends. Is the volume trending up or down. Is price trending up or down? But, a trend is a human construct, it's a definition. A trend is invented only once we superimpose a gridwork of time over price and volume. That means that change/continuation is defined between two points. If the answer to my dillema is to zoom out, it becomes a circular thing. Am I making any sense? My little posted graphic is just two bars, two snapshots of lumps of time, if you will. But, those two bars could BE the big, zoomed out picture already. No matter what fractal you're on, you are still comparing two points in the past. The two points as represented by my 2bar formations could just as easily have been the ends of a traverse, for example.
my.02, FWIW- 1- at MY level, I'd see no change, and so, yes, continuation 2- sounds correct. one of those bars had to be an FTT. then inc volume signals the new dom direction example- again, sounds to me like you are correct - somewhere in the lateral is an FTT, we didn't see it... so what? follow the direction of the dom volume, either bt reversing to short or getting short. 3- In my mind, I draw either a penant or flag during these bars. (too much c*** on the chart otherwise) again, since at my level, I'm unsure which way to read it, i just wait until inc volume shows me the way, then take action as needed On an overall note, I try not to worry if I got it right on the previous bar or not. Rather, when I recognize that i was wrong or confused, I fix it and don't give it another thought. Hard to set aside one's ego to do that, but I think that's what it takes. Never sit there on the wrong side cuz you want to be "right".