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A little housekeeping. SDY, which I mentioned in November, broke out of its trading range last week. A RET may offer an opportunity to enter. XLV may be getting ready to make a new high as well (if it doesn't, of course, it will be a short op).

For grins, the hourly:

A new thread for a new year. The first thread, If You Can Draw A Straight Line (You Can Be A Successful Trader) wound up being a sort of omnibus thread which grew far longer than it needed to be, largely due to trolls. So after it became unwieldy, a second thread was initiated: Son of If You...

And I hope that lurkers participate in Gringo's three threads as well. Make bazillions in only minutes a day.

Actually, you have one, but the bar interval is too long to show it. Change this to a 1m interval and you'll see your pullback in the 4th, 5th, and 6th minutes. Enter on the 7th anywhere from .30 to .40.

In lieu of reading a thousand posts, what might those few essential elements be?

I stopped discussing volume because people found it so difficult to understand and because it's not really necessary. As for your snarkiness, I didn't realize we had issues. If I had, I wouldn't have gone to the trouble of providing so much detail regarding the PV analysis of your chart...

There are at least three, all of which have to do with imbalances between supply and demand. Two occur as a result of climactic action and resolve themselves as either (1) a V reversal or (2) a climax followed by a test of the "bottom". The third occurs in a lateral base in which price reaches...

If you're referring to the period during which price begins to move sideways, i.e., early 2012, you'll note that there's "high" volume in early March. To understand what this "means", look at price: a lot of activity and the downmove is not only stopped in its tracks but reverses somewhat. This...

Volume is neither bullish nor bearish; it is simply an illustration of the amount of trading activity. Bullishness or bearishness is reflected in the behavior or price. If price goes up, bullish, i.e., demand is greater than supply. Down, bearish: supply is greater than demand.

That's nice of them, but what matters most is whether or not what's being said (a) makes sense and (b) pans out in your own testing, esp real-time testing. If it doesn't, then be on the lookout for snow.

One of my "associates" in price-action trading maintains a journal which includes analyses of the gold chart (http://www.elitetrader.com/vb/showthread.php?s=&threadid=278731). You may want to review that, at least the last few posts.

What does "pure price action" mean to you?

Happy Holidays to everyone. I can't think of a better manifestation of the Law of Demand and Supply than the Christmas shopping season. Babe, take a break.:)

3500 sprung a leak :) 0911 Bouncing off the LSH and approaching a 50% RET 0931 Big time failure of attempt to make an HH 0933 And a rejection of the road down. Let's rumble.

Hardly. "Big moves" begin on a tick chart. That's common knowledge.

Given its relationship to the LT trend channel and to the October trendline and to the failure to make a higher high, what a tempting short this is.

13?!?

I haven't read all the 200 threads that have to do with getting started, but the common theme appears to be "how do I get started?" or "how do I start?" What I am interested in is how you actually got started. Was it a book? A TV program? A movie? A website? A Google search? Putting aside the...

And doing so is one of the primary reasons why so many fail.