The posted chart had a problem. Handover issues already!
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Old Possum's Book of Practical Charts
- Thread starter John Merchant
- Start date
While you half-wits are arguing about something as absurd as VWAP, you have totally missed today's lesson. Classical TA is alive and well. Between 7:30 and 8:45 PT we witnessed a perfect triple top. Then between 9:15 and 11:00 we saw a textbook head and shoulders formation. I don't understand why you cretins bother with all that fancy charting you use!
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If the cruelly martyred Saint Phoenix were still with us, he surely would say: "General, shame on you! You are up to your old Hershey tricks again! Drawing perfect trend lines 45 minutes after the fact!" ET, pay them no heed. They are all brokerage shills trying to convince you that trading is easy! The fact is, any fool can trade.
Looks to us (Kokomo and Bogart, we're Jack's llamas) like you NQ queers missed the fact that SPX twice went up to kiss the trend line it broke six days ago. We learned more from eating the boss's trashed charts than you'll ever learn in a lifetime of reading this drivel thread. Real men trade ES!
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What a fucking zoo! I can only add from a psychoanalytical perspective that TNX seems to be highly conflicted in its manic-depressive syndrome. My professional opinion is that the manic will win out. That will certainly please the NQ bears on this thread. One man's mania is another man's depression!
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Quote from John Merchant:
Thank for ask. Merchant make up more and more elaborate fraud. But few see through. DBixon very cleaver. Little red line is Merchant proper riotary indicklater. Is where one minute volume fall below certain fraction of slow first order infinite impulse response filter on volume. Filter have proper riotary co-inefficient, of course. Merchant steal idea from Hershey. Like all Hershey idea, Merchant make actual work. Hershey use ES. Merchant use NQ. Hershey use five minute. Merchant use one. Just to be different. Hershey use absolute volume number. Merchant use adaptive threshold. Hershey call Very Dry Up. Voo-Doo for short. Merchant call his Little Red Line. Both useless. But to be ghue rhue, must have elaborate cahrt.
I count myself lucky I don't have volume option except on IB with Quotetracker. Not that great at math and couldn't follow filter discussion. Merchant is the clever one.