Quote from jack hershey:
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In terms of the pattern, we are in a mode where everything about the short is defined. It is a little unusual in the sense that there is no T1 and the price BO of the RTL was not defined by T1. P2 occurred and the volatility was established. T2 set the "robustness" of the sentiment.
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Hi Jack,
reading this I immediately got a strange feeling. Later I knew why. Didn't you always say something like:
1. "There are no anomalies in the market!"
2. "The pattern is defined as three price moves and 4 moves in volume."
How can the pattern be complete without 4 moves in volume? How can you have a T2 if you say that there is no T1?
Does this mean we sometimes simply have to assume (pretend) that it was there because of a BO of the RTL? But then I re-read another thing you said: "What is what is defined by volume."
Could you please explain this? Screen shots (charts) or references to bar numbers might help.
Thanks.