LOL.
With 20min to go QQQ Daily PRV is only approaching 80%!!
Oh well... I did recognize a slight chance of failure. Plus the market is still open.
Here's to cloudy with a chance of meatballs! LOL
On 10-case geometry and beyond
- Thread starter Simples
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LOL.
With 20min to go QQQ Daily PRV is only approaching 80%!!
Oh well... I did recognize a slight chance of failure. Plus the market is still open.
Here's to cloudy with a chance of meatballs! LOL
@kaizer
Thanks for the question. I know my answer will sound quite rude, so heads up.
What is in use here and being discussed is the Jack Hershey Price-Volume relationship.
The graphic baro-san provided, answers your question (although cleaner versions of the graphic are available.)
I refer you to this link to begin reading and studying...
https://www.elitetrader.com/et/threads/spydertraders-jack-hershey-futures-trading-journal.83604/
All the participants in this thread are extremely helpful and generous with knowledge. But, for certainly most, if not all of the participants I think I speak... There is little to no interest, to explain the prerequisite rudimentary concepts/tools of JHPV, at least not in this thread.
To directly answer your question of "which channel is proper"... The volume sequence... B2B2R2B or R2R2B2R.
If you do decide to study this method, beginning with the above link, and have specific questions, please feel free to ask. We really are helpful and generous. If warranted, perhaps a new thread will begin.
Good trading to you.
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@tiddlywinks ,
your last chart amazed me to say at least, you've spot the failure to traverse in real time and posted the clear confirmation that it's possible. Probably you do such kind of analysis on daily basis. From the first glance the failure to traverse concept didn't make sence to me and looked like old H&S pattern. Which is very obvious in hindside but not in RT. Now it's clear that I overlooked the FTT and should to dig deeper. The Spidertrader's&Jack Hershey's journal will be the starting point as you advised. Again, your chart is great motivation to do it!
your last chart amazed me to say at least, you've spot the failure to traverse in real time and posted the clear confirmation that it's possible. Probably you do such kind of analysis on daily basis. From the first glance the failure to traverse concept didn't make sence to me and looked like old H&S pattern. Which is very obvious in hindside but not in RT. Now it's clear that I overlooked the FTT and should to dig deeper. The Spidertrader's&Jack Hershey's journal will be the starting point as you advised. Again, your chart is great motivation to do it!
Treat H&S pattern as two separate JHM sequences. Or like two completed Channels.
@kaizer:
Thanks very much for the kind words! I'm glad to see you have at least perused some material. More importantly to me, the fact you've taken my suggestion seriously, and my previous tone like water off a ducks back. Cool!
Also importantly... don't think for one minute everyday is so clean cut. Here is my NQ 2min trading chart for today. IT IS A FRICKEN MESS!! I am positive containers are wrong, the gaussians are incomplete because I couldn't follow, and I have since moved over to RTY. I also operate with a more defensive mindset trading NQ when it opens with a multi-dozen point opening gap!!
I am glad the chart postings are of use. Thanks again for the nice words.