ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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Which one ?
Don't forget about 1202 cash
The same predatory programs running like before Thursday. Same bulls..t.
Quote from austinp:
didn't see the question... sorry for that
the 5-bar confirmation isn't critical, it is a standard basis of comparison. fundamentally you are looking for exhaustion spikes and positioning yourself on the opposite side of stop-loss clusters. when those stops get taken out, you get ushered in accordingly. eat the losers, so to speak.
very often this particular pattern confirmation will get one (or two) pullback tests before the directional takeoff ensues. they usually confirm as 5-bar patterns but not always. it gives a quick visual reference as to where the prior action points were... which is right where future action points will once again become
I noticed in the video that you stress "consistency" ie doing the same thing over and over.
I noticed the 5 bar confirmation lag also and I wondered why you did not apply a 5 bar offset to your s&r lines to avoid confusion.
Now you are saying that the 5 bar confirmation is not critical, which means that sometimes you might pay attention to it and sometimes not.
How does all this fit into the "consistency" theory which you speak about..
"consistency" is a user-defined term. Control bars from prior zones are usually 5-bar patterns. notice how yesterday's high-bar break was today's peak failure again? supply still clustered there.
while a Ctrl-Bar pattern is forming, it does not always complete 5-bars at that time. but anyone = everyone watching that price study today saw the ES 1166+ zone rejection before current lows rolled.
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