when I use APA, I often end up lose 3-4 ticks in the process. the losses accumulate and cause hesitation on reversal and late wash. Couldn't imagine Jack doing 4 reversals in 30sec.! I realize I missed something big in this trading method, but what?
Frequency of event A being associated with event B sounds like probability to me. Post a chart about what you are on about and you may get a response - also you may find your own answer in doing so. It seems like you want to share something important. Also it seems like you are trying to map terminology used somewhere else onto this framework, for some reason, which just adds a layer of unnecessary complexity.
Intraday swing high and swing low are not arcane terms and I well appreciate they are not part of the Hershey lexicon. There was no intent to map, interpose or otherwise inflict the terminology. My question was just that - a question as to whether or not anyone had noticed. It was not a request for a probability. I am well aware of the infrequent utility of the probabilistic approach. My reason for asking the question has to do with the fact that if someone had noticed that a swing high or swing low was always a Point 1, then one would have the first point of an RTL for any future (or for that matter any equity) in the appropriate time domain. Now how one wished to deal with that reality would be up to that person's particular needs and trading time frame/abilities. One could trade the grey traverses. Another goal would be to prepare for an FTT. So if someone had said "always" then goody - something to look at. If someone had said "never" or "infrequently " then too bad. If someone had said "very frequently" or "almost always" then goody again - something to test. C'est tout. lj PS: Some as yet undetermined probabilistic weight would be given to the pronouncement of the "someone who had said".
Oh, sorry P1 it wasn't clear to me that you needed a chart to demonstrate what an intraday swing high (SH) or an intraday swing low (SL) was. On the other hand what you may have been requesting is that I provide you with a pictorial representation of what I was talking about. I believe the attached chart satisfies both scenarios and what's more Spyder has conveniently circled what I would call an intraday swing high. As well you are aware the confusion surrounding what exactly intraday SH or SL is, is in large measure due to the fact that the criteria for same are to say the least, mushy. Nonetheless the concept is I believe of some utility as long as one is aware of its limitations. lj
Not really... you've posted a chart that shows a P1 (circled) which apparently also fits your definition of a swing high. It might be more useful to post an annotated chart showing a SH or SL that is NOT also a P1 (or, more likely, a P1 that is not a SH or SL) and note the differences.
I draw gaussians to match channels, but I also draw channels to match gaussians. I think about channels as price containers encapsulated in larger and larger price containers, that themselves include containers with containers inside, ... When I don't see this hierarchical structure enfolding I realize that I must've drawn something incorrectly, so I review my channels and gaussians, and eventually everything makes sense. I also have to see the volume increasing on traverses and decreasing on retraces, peaking about point 2 and bottoming about point 3. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1660752>