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I would hope so, as it is the very first step! But, the last chart of your's, was far from correct. Are you sure you aren't 'adding' lagging indicators to cover for lax annotation?

Oh OK, you don't want me posting in 'your' thread. Did not realize you were the OP. Continue with your 'fun', you might make money when you decide to get serious.

Sheesh! Determination of market direction is based on properly annotated charts. Can be done with price action alone.

Finally, some truth outta hogbatter.

Oh, come on! Is this the fouth time you are gonna ask?

Did you just try to ask the question a third time?

Ok guys, when Spydertrader says this, it is a 'foot stomper'. In other words the context has changed. We've all heard that before right? And when the context changes, the answer changes. So look at the first bar in question, it is a BO of a RTL whereas the second bar in question is a point...

I'll second that! Gman, fantastic job!

<img src=http://elitetrader.com/vb/attachment.php?s=&postid=1912230>

That's right: Page 1, Journal 1

Go read!!!

Still waiting. :)

.<img src=http://elitetrader.com/vb/attachment.php?s=&postid=1910591>

.<img src=http://elitetrader.com/vb/attachment.php?s=&postid=1910589>

.<img src=http://elitetrader.com/vb/attachment.php?s=&postid=1910587>

.<img src=http://elitetrader.com/vb/attachment.php?s=&postid=1910583>

Great discussion earlier today on knowing context. Here is how I knew to hold. <img src=http://elitetrader.com/vb/attachment.php?s=&postid=1910582>

Do you HAVE to use bar 9 as point one? What about bar 10 as point one?

Really? Better tell Spydertrader to fix his chart he posted earlier. :)

I believe this is the opposite of what one should do.