Always helpfulThanks, this clears up somethings.
For bar98 BO,T1 I'm not sure how that can be if 2 previous bars are P2 P1, not P1 P1, volume is not between two previous bars, and is it even third bar of a trend? Maybe if counting lat as one bar, but not quite sure about lats.
There’s four ways that BO,T1’s occur.
First it’s a failsafe so as such it is defining a rapid change in sentiment as price XO’s a RTL. This RTL can be at any established tape/traverse/channel by pt3 of price. Volume does not have to be between any previous bars.
The first is the easiest to see for the trend has progressed and logged P1 and T1 on the previous bars. The third bar is the BO,T1.
The second is similar to the above but the BO occurred on T1 bar.
The third occurs intrabar but the final form looks like a peak and not a trough. The peak is from accelerating volume in opposite price direction after the T1 has occurred in the previous price direction. This underscores why MADA produces different results than backtesting data that is EOB only. MADA is a forward testing concept and produces different results than backtesting. It gives the ability to ‘carve’ turns.
The fourth is when price XO the RTL further along the OOE. For me, I began to log these as not-BO,T1’s. They XO’s the RTL but not directly after a P1. They are BO,T1’s and also not a typical BO,T1 as I understood them. This might be an invention but since my trading is focused on DOM traverses, these nBO,T1’s brought insight into the notion around ‘not’ and ‘not,not’ that are seen on Jack’s earlier logs of the VTP.
In working this stuff out it’s helpful to have at the back of the mind Jack’s assertion of and concepts around ‘extracting the full offer of the market.’ The two pillars - being ‘in’ the market AND ‘being on the right side’ of the market in any given moment.
Thanks, this clears up somethings.