Getting down and dirty is where the rubber meets the road ...
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Hi dkm,
great work. When I read it I somehow got stuck with your description of bar 3 having a HH and LL than bar 1. As I didn't remember it being that way I had a quick look to see if this is correct. If I'm looking at the same chart then there is something wrong.
I'm not saying my tapes are correct but what I can say is that they look "a little bit different". Please have a look at the first few bars. I did the complete chart yesterday but when I wanted to save it I selected "discard". Therefore in order to see the difference in this point only, I quickly added what I would have drawn.
Greetings.
Quote from jack hershey:
Here is an annotating suggestion for doing it correctly. There is a simple drill at the end.
About 1957 while reading Magee 4th Ed I found that parallelograms depicted fractal containers. three points were involved: two on the right and one on the left. This pragmatic consideration set my life in motion. I did parallelograms as suggested. I knew for some reason to follow instructions. the principle was this: by following instructions and doing it hapily, I enjoyed getting what I was to do correct and I avoided unneccesary complications.
I always drink out of the near side of the glass as well. Again, the reasoning is simple; I get my thirst quenched by not having to take off my shirt during thirst quenching.
Sometimes I run into vertically oriented people (See THINK, IBM Journal 1950's on personal orientation theory). To ease them into the right and left trend line orientation I do a drilll with them called ruler sliding on stock charts.
The rule is placed on the RIGHT side of the chart in their favorite...a vertical orientation.
slowly the ruler is slide to the left to introduce them to left and rightness.
I ask them to stop the ruler when it hits ant price.
this happens very soon.
I ask them to place a pencil at that point of price contact.
then I ask them to get forceful
I ask them to be pushy.
I ask them to p[ush the ruler so it moves more to the left and still keeps contact with the ruler.
they, in fact begin to rotate the ruler about the pencil that is holding one part of the ruler in place.
I ask them to stop this action when the next price it hit or touched.
they often do after some adjusting for overshooting.
Then I ask them to hold the ruler in place and drag the pencil from the point it is at to the other price contact point.
then I ask them to set aside the pencil and ruler and look at the RIGHT TREND LINE FOR 1 HOUR WITHOUT BLINKING.
Here you see a red bar above lableled 1. I has lines associated with in on the fast fractal levlel. By working with available clean information, only, thos lines came into being as follows in 7 steps using cases to get the right to draw a paralellelogram using three points and observing that the rtl is on the corrcet (rtight) side.
I know dkm. And as you can see your bar three has a HH but not a LL than bar 1.
Another point we can see is: Depending on where we start we might get slightly different results. I think at the beginning of this thread Jack highlights the importance of de-gapping and before one starts trading a day you need to have ALL THREE fractals of the previous day(s) in place. If I would have started with the first bar of that day, I would probably arrive at the same conclusion like you did.
Quote from jack hershey:
Here you see a red bar above lableled 1. I has lines associated with in on the fast fractal levlel. By working with available clean information, only, thos lines came into being as follows in 7 steps using cases to get the right to draw a paralellelogram using three points and observing that the rtl is on the corrcet (rtight) side.
We can look at the next steps we do with the bars be fore open
This is the M of MADA.
we are at the end of a day nad do not have but one fractal determined for carryover. We NEED a minimum og THREE.
Thus we have to wing it and work with what e have to get annotating to continue until we build three nested fractals.
Up to that time, we are SOL for doing any level of SCT trading. That is how it goes when a person is a beginner and has not done about 10 days of charts to get the nesting of fractals under way.
So on thei chart All that can be done id drills on the annotating in a prpper way. As we see corrcting mistakes is not working since I have to work through some levels of mistakes to clear all the mistakes out of the way.
The mind does not erase mistakes that are in long term memory. These memory glitches have to be taken out of use by building a wall of usable recourses in front of them. There is also inventions which have been built in front of older correct practises that have been blocked out by inventions.
A new trader also has things in his mind as he begins. He got those as her grew and learned. If they are contrary to SCT and MADA, then they have to be dealt with as well. when a person does drills at the beginning , he, in his way, changes the drill to what he wnats to do instead of what is needed. So after a while these rearrngements have to be work over and blocked by additional correct activities.
A trader needs THREE nested fractals to trade. The trading fractal is in the MIDDLE.
Fractals are buuilt (annotated from the fastest observable on up.
Be mindful of these MADA princilpes of critical thinking and logic.