Okay, prof, let me see if I get this concept. As I recall, DU on the 5 min is at > 5000 trades per bar. At this point we switch to the 1 min chart and start the slolom process using the 14,1,3 stoc. When the stoc starts to spend alot of time in the tape and momentum and acceleration approach 0 on the MACD, we standby and wait for the immenent reversal, which is based on a fractal breakout of the channel on the 1 min chart. Once established, we go back the 5 min chart. Did I get it? Very solid teaching you are doing here, BTW. Thanks, Oddi
After looking at the 1 min chart that i posted on page 150, I noticed something very interseting. For the medium/slow pace iceberg (i am still not sure exactly which one), the 1 Min macd Xover would have been a PERFECT signal to get short or long. It would ahve been great until it turned into no pace or ccc(if that is ccc) at 10:38. Jack, is this correct that maybe when we recognize the pace of the market being medium/slow, we immediately use our 1 min macd xovers as the signal to exit and reverse trades? thnx, jc
I must have been daydreaming in class. Would someone please tell me what the devil CCC is??? And what is it's significance?
ccc is congestion, consolidation and centering, it leads to a break out and is usualy found at the end of a fast pace trend
sorry i had a brain fart, ccc= congestion, convergence and centering the idea is that the buyers and sellers get closer and closer until there is little/no price action and volume drys up leading a potential break out
In an effort to delve further into the price volume relationship I would like to submit the following postulate: If the price, volume relationship is critical to the viability of the trend, it follows that this price volume relationship would extend to all time frames. What is the best way to determine the volume number necessary to sustain a trend in a particular equity or commodity? Would an average volume of say, the last 34 bars, be sufficient? Or perhaps, the significant high and low of the last non- lateral trend could be measured. One could then take the number of days and divide the total volume by the number of days of the trend in question, to get the critical volume number. My logic is that if the price volume relationship is established on the daily time frame, it would simply be a matter of conversion to determine the correct price volume relationship on any time frame. Therefore, with could adjust our time frame to maintain a relative constant in the price volume relationship, which would help us to manage lateral trends on any level What would you think of this, Jack? Thanks, Oddiduro
the only thing that i remember jack saying about this is that on a break out you should look for the nextvolume bar to be 3 to 4 times the vdu, and look for the bars on th e5 min to continue to grow through the trend. I was just looking to try to figure out how to use rsi in this manner, I however am about as far from figureing it out as I could be so I am up for hearing/having a discusion about this. I think it would be very usefull to see something that indicated rate of change of volume. I think Jack may tell us to slow down and not get ahead of ourselves.
today i posted the 5 minute. I think we had a failed rocket short due to the economic numbers, followed by a long medium iceberg. jc
open . everyone goes in short at sync experts reversal on the end of rocket. Salom until 12:00 when centering starts. Bracket in by setting up on the centering. beginners out on end of rocket go in long at 11:15 to 11:35 13:00 minus or so go in at 14:20. Intermediates hang with short to 11:15 . you go short and have a loss around 12:15. Yoiu can wash here and so can beginners. If you wash you can go in at 12:50 and you are still hanging in. this was a failure to BO on the IT trend I suggested yeaterday. we have broken back up into the original channel Set a new point 3 for the IT channel. i ill deal with a million details asap