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Iterative Refinement
- Thread starter Spydertrader
- Start date
That I don't know. I try not to predict which BO will succeed etc. I try to get clues from the price action but I am not good at this yet.Quote from ljyoung:
Partial quote from bi9:
c & e are pennant BOs. d is not a BO since it did not clear the high of the prior bar.
That makes sense to me. Now let me ask one more question. Can you anticipate which of the five 3-bar entities would be more likely to go on to give a full-fledged BO and close above the high of bar 1? My guess is that it would be either c or e and with "comparable volumes for the 3-bars" would pick c because it has the pennant BO and a "tie" with b for the greatest pace - but I don't know.
lj
Sometimes I get a feeling the BO will fail and often does, but I still haven't been able to put a finger as to exactly what makes me to expect the FBO.
Quote from bi9foot:
That I don't know. I try not to predict which BO will succeed etc. I try to get clues from the price action but I am not good at this yet.
Sometimes I get a feeling the BO will fail and often does, but I still haven't been able to put a finger as to exactly what makes me to expect the FBO.
As I said I also don't know and used the "antiicpate" word in lieu of the "predict" word, because like you I have learned to let PRV and more recently, what Jack calls money velocity to aid me in making a decision. I think I have the money velocity = pace = rate of change of price thingy correct but as with several other matters, I don't have it assimilated into my brain in the most comfortable spot as yet.
Thanks for the discussion tonight. It was very helpful to me.
lj
Quote from PTVtrader:
Hopefully this chart will help clarify what i'm trying to say.
You may find the second post on this page to be of utility. http://www.elitetrader.com/vb/showthread.php?s=&postid=1674526&highlight=jokari+window#post1674526. Jokari compliant and noncompliant P/V movements are discussed using Boolean logic.
lj
I say - who cares!Quote from ljyoung:
...Can you anticipate which of the five 3-bar entities would be more likely to go on to give a full-fledged BO and close above the high of bar 1? My guess is...
If one is concerned about change or continuation, one is not concerned about probabilities of success or failure. That is an 'edger's' way of thinking.
We 'anticipate' what must come next in a sequence, not 'predict' the outcome of it.
This is a shift in mentality, one that comes with 'doing the work'.
Quote from Avi 8:
I say - who cares!
If one is concerned about change or continuation, one is not concerned about probabilities of success or failure. That is an 'edger's' way of thinking.
We 'anticipate' what must come next in a sequence, not 'predict' the outcome of it.
This is a shift in mentality, one that comes with 'doing the work'.
Hence the use of the word "anticipate" in the statement which you decided to quote. In the 10:17 post, I further elaborated on what I meant by "anticipate". If you wish to ascribe other meanings to what I said in these posts, then so be it.
Your idea of 'doing the work' and my idea of the same task may not be the same but I can live with that.
lj
A rose by any other name.........Quote from ljyoung:
Hence the use of the word "anticipate" in the statement which you decided to quote. In the 10:17 post, I further elaborated on what I meant by "anticipate". If you wish to ascribe other meanings to what I said in these posts, then so be it.
Your idea of 'doing the work' and my idea of the same task may not be the same but I can live with that.
lj