Iterative Refinement

Quote from ljyoung:

That's correct gucci. The market doesn't know me from Adam. So when I've incorrectly annotated what do I do? A wash or a reversal?

lj
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Is it really a dilemma?


I'm sure you remember the post:"Doing wash trades prior to having losing trades for any reason in the hope category is a good beginning. Making a wash trade a reversal trade is not a bad idea either since this reversal can be washed too if necessary."...
 
Quote from gucci:

Is it really a dilemma?


I'm sure you remember the post:"Doing wash trades prior to having losing trades for any reason in the hope category is a good beginning. Making a wash trade a reversal trade is not a bad idea either since this reversal can be washed too if necessary."...
More...

It's not a dilemma for me gucci. I would reverse.

Others however might be less certain and my question is should they really be looking for an opportunity to wash in such a situation? The more likely end result would be not a wash but rather a freakout bailout which is exactly what one should not be doing or as Jack might say, what one should not be learning how to do.

I remember a post from Makosgu saying that his personal 'record' for consecutive reversals was seven in a row. So why did he reverse so many times? He reversed because he wanted to get on the right side of the market. CW people do not reverse - they bail.

lj
 
Attached is my monitoring effort for Monday. I have extended Friday's last downward traverse to Monday's chart.

I have also kept the last 5 bars from Friday's chart on this chart to better show my view of Monday.
 
Quote from ljyoung:

It's not a dilemma for me gucci. I would reverse.

Others however might be less certain and my question is should they really be looking for an opportunity to wash in such a situation? The more likely end result would be not a wash but rather a freakout bailout which is exactly what one should not be doing or as Jack might say, what one should not be learning how to do.

I remember a post from Makosgu saying that his personal 'record' for consecutive reversals was seven in a row. So why did he reverse so many times? He reversed because he wanted to get on the right side of the market. CW people do not reverse - they bail.

lj
More...

We've got a problem, we've got a solution. What else do you need? (certainty???)
 
ES 5 min showing a completed standard downtraverse (fuchsia), a completed standard uptraverse (blue) with fanned RTL, a downchannel P3 at 15:00 and a down fftraverse to end the day.

So the PFC says we should look to complete the downtraverse and the downchannel, whenever, and then start a new uptraverse and upchannel.

lj
 

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