Of course no one knows A, but there was nothing that told me that a BO was going to occur as opposed to an FBO (which seemed more likely to me). I would have had to determine that although I saw no evidence of a change in sentiment, I will choose the change in sentiment route. Obviously my interpretation was incorrect, but other than what Tums had indicated, I just don't see what course level tools told me to give up the ghost on that one. It should be noted however that I am as dense as concrete
Formations don't fall under the category of advanced level material. I chose to wait to provide information on them, in an effort to show how using formations causes a vast majority of 'flaws' (the area which causes the most confusion) to disappear. By annotating all formations, you find a natural 'break point' where the market provides opportunity to insure one sits on the 'right side' of the market. By example, cnms2 annotated a Sym Pennant as a 'dip' on his chart (or so it appears). While you may not 'know' what outcome to anticipate with respect to a Dip, we certainly know how to determine outcome of a Sym Pennant Break Out. As such, I encourage you to learn to 'see' things in terms of the formations in an effort to 'uncomplicate' the areas which currently cause you frustration. - Spydertrader
If there is one lesson for all to learn, this would be the one. We have to respect the volume -- because it is the volume that drives the price direction. This is the foundation which Jack built the Gaussian theory.
Volume has to be considered in the proper context though. I can't base decisions strictly on volume no matter how important.