Are all price patterns the same? (examples)
- Thread starter 1a2b3cppp
- Start date
Quote from Redneck:
Damn TDâ¦â¦
Your post conjures many thoughts Sir
I suppose my main one;
Careful though - else you'll start getting accused of obfuscating - LOL
redneck bot
Remember thoughts kept to oneself have a finite affect, thoughts expressed have unlimited potential.
Yeah I kinda let my hair down abit on that one. The only thing that would account for my diatribe was a sugar infusion.
Since I am not licensed in the art of obfuscating I will leave that to the professionals.
Tonkadad (junior bot)
Change time to market participation. That is what makes PA patterns different. The DOM and all that other stuff is showing market participation.
I donât have any idea what price will do next. What I can tell you is what I will do.Quote from 1a2b3cppp:
Now let's get back to the discussion at hand.
Price can only do 6 things. Are all price patterns just after the fact identifications of combinations of these 6 things?
Price makes a HH, a HL, and another HH. It's now retracing but still above the previous HL.
Should you get ready to go long? Is it going to keep making higher highs?
Should you get ready to go short? Is it done making higher highs?
Should you sit out? Is it about to start chopping?
If your answer is "there is not yet enough information to decide," please be helpful and mention what additional information you would need.
I can have a scenario where I will buy or sell or stand aside in reaction to what the market does next. Regardless of what decision I make, I will have an exit strategy that defines my risk and protects my capital.
For the above example I will buy when it trades above the last swing high; I will place a stop below the most recent swing low; I will exit with a trailing stop.
If price continues to drop I will stand aside until it makes a new swing low then short when it trades below that swing low. Again I will protect my capital with a stop and exit with a trailing stop if the trade moves in my direction.
I follow the trend. Never in at the bottom or out at the top but I get enough favorable trades to make a profit.
I have certain price patterns that I use to set up a trade. The one illustrated above is one of them.
Quote from 1a2b3cppp:
Now let's get back to the discussion at hand.
Price can only do 6 things. Are all price patterns just after the fact identifications of combinations of these 6 things?
Price makes a HH, a HL, and another HH. It's now retracing but still above the previous HL.
Should you get ready to go long? Is it going to keep making higher highs?
Should you get ready to go short? Is it done making higher highs?
Should you sit out? Is it about to start chopping?
If your answer is "there is not yet enough information to decide," please be helpful and mention what additional information you would need.
Attached you will find some references to your equations or functions you use to determine HH's and HL's etc.
Points B and D used the same function. the function result was "TRUE" in each case.
The function you use on point C is also available. The C function result was "TRUE" at point C.
Now you are testing with a set of functions at point E.
As you keep testing you will never get a true at E for the function that is "TRUE at points B and D. So do not gate this test into your testing of point E.
Your set of functions is incomplete and you may not know this as indicated by your post above.
At point E, keep using you function test for the point C. It could become true and, if so, then take profits and reverse your position.
To handle all other possibilities for point E you just need to write one more function. Call it "the BO of a long trend" function.
Write it out using the function of A and the function of C so that you can plug into the result the locus of E as the E locus makes any change. this function is either "False" or "True" based upon whether the line formed by A and C has been crossed by the locus of E. If you took algebra 1 in sixth grade you will remember writing these functions as algebraic equations.
as long as you get a True for function C before you get a true for "the BO of a long Trend", then you reverse long on the true of function C. If not, then you take long profits and re-enter short when "the BO of a long trend" is true": you hold when False and keep making money in this non dominant mode.
I do not believe you have any means of actually calling HH's and H's. You are just drawing pictures and putting labels on them which are guesses.
As lucrum says "What happened to the OHLC's?" He is ignorant as he says. So are you.
traders always use each O, H, L and C and volume for a specific purpose for each information parcel (Bars of volume and price as a pair related pair).
To relate two adjacent price bars, the first requirement to get the correct name for the second bar is a step that is unknown to Lucrum as he has proved by posting. this means anything Lucrun does following this first mistake is meaningless.
You are always making initial mistakes in your thinking. You are just spinning your wheels.
Someday you will HAVE TO POST an illustration of two bars next to each other. Then we step in and correct your mistakes so that you can begin to learn.
Actually, you need to post a pic of one bar and put the names of its parts on it. Do a volume bar first.
You have built a prison to live in. I do not live in such a place as you do. I am writing a book that is set as a mystery book filled with intrigue for you to read while you are in prison.
Get a journal and write your prison rules in the front. As you read my mystery book you can solve the mystery that will allow you to cross out each of your prison rules.
One of Lucrum's prison rules is that he does not know how to connect any two bars together so they have a fubctional (a math written out equation that tells an answer) relationship. Marketsurfer has proven he is in the same place of ignorance as Lucrum.
Sit in the prison of your making. You are always at point A with no functions written out for any other points you give names to.
Point A is what got you the ticket for that the judge gave you a prison sentence for. Right now it is a life sentence.
Think about trying some good behavior to get an early release from prison.
Stop keeping your fuck ups a secret.