Bride of If You Can Draw A Straight Line

[timokrates]

Quote from dbphoenix:

In this case, you'll notice that price spent 13m futzing around the bottom. This is hardly a V reversal. It then shot up in a single bound to 70 and went . . . nowhere. This is not the behavior of rabid buyers.

I suggest you find examples of chop and work them backwards to their beginnings, then replay them forward.

Thanks DB, I will do all this over the weekend.

Would you suggest replaying also specially for the trades that are losers or break the line before going in your favor?

In terms of bringing it all together I was searching for a long time and have to say that OneNote from MS Office seems to be very good. One can build a very good journal and implement pictures and also excel stuff nicely. This should not be an advertisement, I just found it to be usefull and maybe others too.

 

[dbphoenix]

Quote from timokrates:

Would you suggest replaying also specially for the trades that are losers or break the line before going in your favor?

I suggest tons of replay until it all becomes second nature. It's the ones who are in a hurry who take the longest to get this.

 

[dbphoenix]

This is our seventh day up here in the NQ. Sixth in the ES. Be alert.

 

[niko]

Quote from dbphoenix:

It isn't about bars and lines; it's about behavior. But until that becomes clear, the bars and lines will have to suffice.

I am still finding this very hard to interiorize, I use the 1 min SMA in order to see the waves forming, and do the recording to tell the story as it unfolds, it is just that I feel a huge mind wall when trying to turn that into actionable information.

I guess time will change that. Meanwhile, will keep on working on that.

 

[dbphoenix]

Water, Helen. Water.

 

[niko]

Quote from dbphoenix:

Water, Helen. Water.

You sure can work your miracles.

The level to watch for me is 95 if prices keep going up.

 

[deaddog]

Quote from niko:

, I use the 1 min SMA in order to see the waves forming, and do the recording to tell the story as it unfolds, it is just that I feel a huge mind wall when trying to turn that into actionable information.

Why not throw up a line chart?

 

[niko]

Quote from deaddog:

Why not throw up a line chart?

Thanks the 1 min SMA (weighted) does the same trick, the problem is not with the chart but with me

 

[niko]

9:43 Is this some sort of trend channel?

 

[dbphoenix]

Quote from deaddog:

Why not throw up a line chart?

Because the default on a line plot is line-on-close, and this can give a wildly inaccurate display of what's happening with price. If the charting program can plot a line of the mean of each bar, i.e., an average of the high-to-low, fine. If not, the 1m MA provides a better approximation. There is also the potential problem of plotting a line chart and a bar chart in the same space. Again this depends on the charting program. The objective in all this is to clarify, not to muddy it all up.