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Amen Brother ! Eddie Toppel wrote a little book about it, I think you might enjoy his writing style. That LBR pdf on tape reading is 24K Gold...consider what she presents in terms of Anek's Strong and Weak bars....talk about confirmation at key price levels !

...fade brother fade...

Identifying chop .vs. trend I prefer Market Profile... but I understand MP is a taboo subject so ... ...years ago we used 1 minute volume thresholds, as ES volume fell below the threshold we would stop trading, but I recall volume analysis is also off the table for discussion...

welcome to Alice in Wonderland (in near real time) fearless, you are a genius Spooz Top, your my new hero... brilliant read this week and you stuck to your guns amid considerable derision from our esteemed panel of experts

... human nature never changes.... a tragedy of errors.... and yet again we are reminded to never underestimate the supreme power of the human ego :p

B1S2 has stated on several occasions in the journal he does not use (or agree with) the strategy of scaling out of a profitable trade. It is a matter of leaving money on the table when your right and the trend continues to much higher prices (and much larger profits). B1S2 has made pretty clear...

...those bright red bars are a pretty strong signal in and of themselves. its a bit of a catch-22 situation when you stop and think about it... there are two basic ways to enter during a strong trend... 1. once the weak bar signals start triggering, indicating the direction is down and you...

Your welcome, pleased to hear it helped you :)

...just wanted to offer a few thoughts on this idea of pure charts, ect. Please keep in mind, it is not my intent to provoke or offend anyone here... Last week we talked about the frustration of trying to trade a trend following system during trendless chop. I pointed out that discerning chop...

...simply answer that timeless question and the rest is easy :) ... every trend following thread on ET eventually runs into this abstruse barrier to unlimited success and wealth... :cool:

Well in either case, double top or ascending triangle, the market was most likely already in an uptrend leading into the congestion pattern. In which case, the breakout to new highs, preferably with a strong (bright green) bar would signal the continuation of the primary trend. There is an...

IMHO, it is difficult to correctly interpret the DOM without a good understanding of the T&S to go along with it. DOM is more appropriately viewed in the context of the T&S. Also, I agree with the previous post that it is even more difficult to read the DOM since algorithm based trading has...

Equal highs is the definition of a double top :) An obvious exception that comes to mind is that of an ascending triangle...in which case you would see the equal highs and higher lows as price narrows into the triangle apex.

I think your looking at two separate trades. The exit at stop loss somewhere in the middle of the W, then the potential entry short on the overall pattern failure likely below the failed support level where original W tried to form... with the exact short entry dependent on where the next lower...

...the market is often counter-intuitive in nature... the scenario you described is typical within a downtrend, the confirmation of which can be found on the T&S...:)

Thank you Sir... your point on the use (or abuse) of the breakeven stop loss is certainly well taken. It is not uncommon to find traders lifting a stop loss order up to breakeven prematurely, and thus right into the zone of market noise where the probability of that stop being hit is much...

Anek - enjoying reading your Journal, congrat's on your success :cool:

It is a natural human characteristic to learn from our mistakes. In trading, the natural response to taking a loss in a trade is to get busy and fix the problem that caused the loss so it does not occur next time. Each of these "fixes" introduces an artificial constraint or variable. As these...

Taking a lot of small losses, a high frequency of losses, is a reasonable explanation for traders developing the tendency to react emotionally and grab a quick (small) profit as soon as a trade goes green. Primarily driven by the fear of letting the trade turn into another loss. This fear trap...

Thanks, you as well :)