Is It a Reversal or a Pullback?
- Thread starter schizo
- Start date
I knowExcellent idea. We need something there but many traders think averages lag too much. What else can we use there? Maybe I am nobody will tell us? Certainly baro-san knows what to put there. I know. Forty knows. Db knows. wtf guys? come on? think!
RN can tell you! But he's not talking! That's what I luv bout him! Keeps quiet instead of blabing like me.
Most of us know.
1 million future likes from me!Depending on your reply, this will be likely my last reply to you.
1) Studying the past in order to understand the future is a good thing.
2) You keep asking for the most recent chart. Is analyzing yesterday's chart any better than studying the chart 1 month ago? How come? They're both hindsight analyses. If you want realtime analysis, perhaps we can both go head-to-head with our realtime calls or trades.
3) If you're forward-looking and want to discuss what will happen next week, then throw out some calls on where the reversal or pullback will likely happen. Then I'll tell you what I think.
4) Irrespective of your obnoxious role in the "Obvious" thread, I believe you're a cool guy.
Let's give this topic the serious consideration schizo intended when he started it and be thankful we have this venue to learn from.
2nd box is exhaustion followed by rev dn which brooks classifies as a spike dn with a channel dn attached, aka a spike and channel dn. Given the time of day, end of RTH session, the mild upsloping trend in 2nd half of 2nd box is fine, it's still going up, but it became a bear flag.
Look at 2nd bar OUTSIDE the box. It's what many traders refer to as last call, get on board. The shooting star candle itself is not enough to say that, but when it's unable to go up further and begins drifting downward, and then accelerating dnward, we get to the non-descriptive part of this analysis.
How do we get out of this hindsight descriptive mode and into the predictive mode IAN uses? CONTEXT! What pace must price continue to maintain at that point in time to stay within the uptrend?
baro-san, imo u and IAN are saying the same things. I think u 2 have a semantic disagreement over whether you are predicting the next bar and thus leading rather than following price. If IAN used the word anticipating the breakdn instead of predicting the next bar I think u would begin to enjoy reading his posts.
btw baro-san imo u are top guy on ET. Luv your work!
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It's just a simple schematic chart. It's not meant to capture every possible pullback manifestation, of which there are many. My point was, when price makes a higher high, BAM !, it's a pullback !
Actually, you mean, it *WAS* a pullback, now it's a high.
No, I mean "IS", and forever will be.
I couldn't help but chuckle seeing the two of you bicker about "buffer zone". I simply made that term up. I could have easily called it something else like "No-man's land". Now go Google if that term also comes up as well.
