No probelm Jack. You have enough on your plate to scour around with my stuff. Hopefully I can convince Spyder to sit for a day and take a look.
I just posted a video thread in Technical Analysis. I address this as there has been an eruption in the inverted triangle pattern. The reason this pattern arises is that the bulls and bears are on very different ends of the spectrum right now. When half the gang is looking for zero, and the other half looking for various stages of recovery, each swing into new highs or lows get's them fired up!!
It helps a lot. The bar numbers make it easier for logging and going back and forth with others in differening time zones. It makes the point on dominance or non dominance easier to read on both volume and price. Translation is where price movement bar to bar is on the front burner. All the bars that are internal cases have an association with volume. From a traders point of view he looks at volume using the PRV function (a snippet of the display and knows within 12 sconds of the beginning of the bar whether he is going to have translation or an internal. Going through MADA his action for either is to hold as he completes the last A of MADA. He logs the line in 12 easy columns selecting the glossary nneded to the columns that deserve an entry. He uses the log to go line after line with MADA to have the unfolding character of the before him. For bars 46, 47 and 48 the 4 to 6 entries on each say hold as the price gradually move out ot the shadow of bar45 the OB bar both of whose ends are used. Arrows in the volume column scream hold on increasing dominant volume. bar 49 begins and is succcessively eamined and the pathe of price does about 4 or 5 things. These are more clearly seen as cases on the YM 2 minute chart. You know at the beginning of the bar a trade is coming off during the bar. Since you are short and logging the point 2 in the BBT column during one of the lines for bar 49, it is the one where the YM sym reads R/B. You log IBGS in the log at some point. You have been logging the S/S declining in value on several lines. As bar 50 starts it is logged as a FTP R/B and you put in 300 in the seconds column next to 50 in the bar column. The YM has 60 seconds left before you log that the new bar around 235 of before is in an internal briefly before it becomes black X B for translation. At that time your unrealized profits on 50 contracts are green @ 2500 bucks. This is not logged since you count chips at the end of the day. Bar 50 is no longer a FTP but an XB shortly into the bar's 300 second countdown. I wanted to complete going through the 50's bars to show where non SCT trading has panic button after panic button going off. I just dropped back in to look at some DAS's for tomorrow after a med apt. I have to get ready for a dinner out with a person in the Tucson group in 30 minutes so I cannot go through the internals and volume leading price on each bar. For those people unfamiliar with trading where almost all of the market's offer is extracted, I hope you can mentally drive to envision that trading is like driving a car. I am not a cell phone user so I do not make calls while driving or take them either. But people do do it because of their superior mental prowess until they get arrested after accidents. It always has been possible to trade using a phone. Today you just hit buttons with mice for various things.
What is painfully obvious is that both these Profile Logical systems, from the Chart Art Gurus on this this thread, are subjective systems in the guise of objectivity. This is why sincere, intelligent folks are unable to place these programs into action. The system appears to rely on a made up languagewith multiple layered rules that are written in such a way to create dependence on the creator for interpretation. It isa manipulative and somewhat clever writing style that permits every move of the market to be interpreted in a system positive manner. Of course this is my opinion and I remain open to objective proof of succesful implementation of either the market profile based program or Jack Hershey approach. Regards, Surf
Like a basketball announcer calling the game after every shot.........same for watching a chart.........you can see just what happened but still only a guess what comes next or who or which side makes the next basket. This thread is to use another basketball analogy...............all "DRIBBLE" now.
This thread is a perfect example of why I have this love/hate relationship with EliteTrader. What could have been an intelligent discussion has degraded into a bunch of rock throwing and dribble. Can't you guys ever have a discussion w/o pissing at each other? There are pearls of wisdom here for a newbie, but for the crap he will never find it!
Re-posting . . . ( originally PV Relation-TraderLab) chart art - Composizione, 1921 Serigrap by Piet Mondrian TradeNavigator platform - chart art superimposed. (platform design Spydertrader)
It says twice that your initial post was at 1:35 EST but I see no such post in your posting history. Link please?