On 10-case geometry and beyond
- Thread starter Simples
- Start date
QQQ. Interesting development.
Alternative view. Automated channel prediction. QQQ has 1 month long consolidation and is waiting for channel P3 Up or Down.
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Your software is awesome. It made it obvious there was an ibgs on that bar. I was just wondering how others log this type of bar here though lol
“Among the hazards of speculation the happening of the unexpected—I might even say of the unexpectable—ranks high. There are certain chances that the most prudent man is justified in taking—chances that he must take if he wishes to be more than a mercantile mollusk.”
Excerpt From: Edwin Lefevre. “Reminiscences of a Stock Operator.”
“SPECULATION in stocks will never disappear. It isn't desirable that it should. It cannot be checked by warnings as to its dangers. You cannot prevent people from guessing wrong no matter how able or how experienced they may be. Carefully laid plans will miscarry because the unexpected and even the unexpectable will happen. ”
Excerpt From: Edwin Lefevre. “Reminiscences of a Stock Operator.”
Can I just say !%$#^#@#$@?!
So much information with jargons all over the place.
Anyway, I have a lot of questions and I would really appreciate some help with them.
First thing, inside bars. In a 2 bar sequence, when the second bar's H&L is inside the 1st bar's H&L, and the volume of the second bar is lower than the first bar, we "ignore or wait" for a third bar and do not measure the second bar's volume. Is that correct? What about if 2nd bar has a bigger volume despite being an inside bar (These seem rare unless it's inside a lateral)?
Second, P1s are all ending events/ FTTs. Is that correct? Essentially, we are looking for P1s to enter for a new trend?
Fail safes. I understand that fail safe is sort of stop-loss point for JHM. We have two types of events that activate fail safes I believe? I just don't get it though. What does "Do P1 on bar of failsafe EE's and A band EE's" mean?
It describes two fail safe bands.
1)BO T1 - Does this mean break of RTL on trough (i.e. decreasing volume)? We draw a new RTL along this event? How do we use this information? Wouldn't we have a P1 and are developing T1 at this point?
2)BM REV - Bookmark reversal? Where does this apply? When we have FBOs?
I have many more questions but I don't want to overwhelm anyone in one post lol.
TIA
So much information with jargons all over the place.
Anyway, I have a lot of questions and I would really appreciate some help with them.
First thing, inside bars. In a 2 bar sequence, when the second bar's H&L is inside the 1st bar's H&L, and the volume of the second bar is lower than the first bar, we "ignore or wait" for a third bar and do not measure the second bar's volume. Is that correct? What about if 2nd bar has a bigger volume despite being an inside bar (These seem rare unless it's inside a lateral)?
Second, P1s are all ending events/ FTTs. Is that correct? Essentially, we are looking for P1s to enter for a new trend?
Fail safes. I understand that fail safe is sort of stop-loss point for JHM. We have two types of events that activate fail safes I believe? I just don't get it though. What does "Do P1 on bar of failsafe EE's and A band EE's" mean?
It describes two fail safe bands.
1)BO T1 - Does this mean break of RTL on trough (i.e. decreasing volume)? We draw a new RTL along this event? How do we use this information? Wouldn't we have a P1 and are developing T1 at this point?
2)BM REV - Bookmark reversal? Where does this apply? When we have FBOs?
I have many more questions but I don't want to overwhelm anyone in one post lol.
TIA
Do you mean WTF or WWNT?
WWNT - "What wasn't that?" is a jargon word of JHM as well.
Sometime practitioners substitute WWNT with WTF.
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P1 of new Channel is the end of old one.
Channel alway ends with FTT.
So FTT is P1 of new Channel in opposite direction.
Do you mean WTF or WWNT?
WWNT - "What wasn't that?" is a jargon word of JHM as well.
I meant WTF, but what the hell everything I try to log feels like WWNT.
I meant WTF, but what the hell everything I try to log feels like WWNT.
You aren't first one feel that way.
All I can say - relax, and do exercise I told you about.
BTW. Spydertrader advised don't do any paper log, like JH did. It divert one's focus from Volume pane.
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False.
LTL bounces, and even VE occasionally (neither as frequent as FTT appearing) are every bit as valid. "Always ends with FTT" thinking will mess you up. Just saying.
From Spyder...
On occasion, Price head straight up to the Left Trend Line and either creates a Volatility Expansion before heading back to the Right Trend Line, or, Price bounces right back into the channel. In either case, we occasionally never see an FTT form. (See Attached) As a result, some traders often wonder how they can know change had taken place. With both an FTT and a LTL Bounce, we have both directional and Pace changes taking place.