Iterative Refinement

[cnms2]

It sounds intriguing ... "Change. Price broke pennant on decreasing volume."

Quote from Padawan:

Great question and answer. I also had trouble there.

Here's my answer to the exercise, though it's best not to look until after checking your chart if you had trouble in that spot. Hope ours compare favorably. This reminded me of 14:20/14:25ish area last Thursday (03-20).

 

[Padawan]

Quote from cnms2:

It sounds intriguing ... "Change. Price broke pennant on decreasing volume."

lol, guess I'm wrong again.

 

[cnms2]

Recover the price from the volume bars:

 

[nkhoi]

Quote from cnms2:

Recover the price from the volume bars:

 

[Jander]

ES Chart - 03/26/2008

 

[cnms2]

Solution

Quote from nkhoi:

 

[Haroki]

WMCN?

 

[cnms2]

My understanding is that:
- you have to establish a context,
- decide on the right side of the market,
- position your self accordingly,
- and then look for the dominos' falling to confirm your assessment (these dominos are your WMCN).
- You should also determine what signal or signals will invalidate your assessment of being on the right side of the market (wmcn if you're wrong).
- As long as you don't get this second set of signals you should hold.

WMCN doesn't tell you what will happen if you don't have an opinion about the context, including the current side of the market.

As Spydertrader mentioned recently (again) the sequence is: signal, action, confirmation (or signal of non-confirmation).

Quote from Haroki:

WMCN?

 

[callmate]

Quote from ang_99:

As you can see I don't physically annotate ftt's, bo, fbo, wwt(wtf,s) in real time.

I just identify (or misidentify) them mentally.

A few days ago Tums offered you some advice in response to your request for help. If I were you I would take notice and do exactly that on your charts for 20 days, then come back and tell us if it has made any difference.

 

[Haroki]

Quote from cnms2:

My understanding is that:
- you have to establish a context,
- decide on the right side of the market,
- position your self accordingly,
- and then look for the dominos' falling to confirm your assessment (these dominos are your WMCN).
- You should also determine what signal or signals will invalidate your assessment of being on the right side of the market (wmcn if you're wrong).
- As long as you don't get this second set of signals you should hold.

WMCN doesn't tell you what will happen if you don't have an opinion about the context, including the current side of the market.

As Spydertrader mentioned recently (again) the sequence is: signal, action, confirmation (or signal of non-confirmation).

All of this is correct. However, your answer is wrong.

The correct answer is....eventual removal from the Final Universe. LOL...