Thank you for the effort, FireWalker. Let me try again.
How I perceive the chart is completely irrelevant. It doesn't matter. The purpose of this task if to determine tradeable definitions for "retracement" (or pullback or whatever) and "reversal" so that they may be distinguished and help the trader avoid taking the wrong side of the trade.
So far, none of the definitions is tradeable. However, since the thread has attracted over 17, 000 views and over 80 people have viewed the chart, I'm hoping that there will be enough people interested in the job to do it.
Granted, most people will just sit around waiting for somebody else to do it. However, a trading plan is an impossiblity unless the strategy and tactics are defined so precisely that the trader knows exactly what he is going to do when the market presents him with the opportunities he's looking for (and if he doesn't know what to look for, he isn't going to see it; if he doesn't see it, he isn't going to be able to take adavantage of it).
This is not difficult. However, given the nature of the school systems the world over, most people are going to have no idea what I'm talking about. But for a trader not to know how to define a tactic is a calamity. Words like up, down, high, low, bounce, change, increase, decrease and so on are meaningless with regard to defining a tactic. When it comes time to hit the transmit key, one has to know exactly what he's looking FOR so that he can know just what it is he's looking AT. Otherwise, he's afraid to hit the key and doesn't do so. Or he hits it and exits the trade prematurely because he's not sure of it. Or he hits it for the wrong reason and learns the wrong lesson from whatever failure or success is the result. One of the reasons why so many beginners and not-so-beginners resort to indicators is that they don't want to or don't know how to think about what's in front of them. It's much easier to buy when the blue line crosses the red line. If the trade doesn't work out, change the setting. But this is no different from building a house while knowing nothing of whatever it is the house is sitting on.
Once you guys come up with definitions, you aren't going to need me to tell you whether they are tradeable or not. You're going to know whether they are tradeable or not because (a) you're going to be able to communicate them to each other in a way that achieves mutual understanding and (b) you're going to be able to trade them. If you can't understand each other and you can't trade whatever definitions are offered, then you're not there yet.
Even though this is not difficult, many people will find it impossible. They'd rather be told what to do. But that's their problem, not mine. Those who don't know what I'm talking about and are interested in finding out can study the previous thread. And by "study", I don't mean review or scan or look over. I mean read five or six or ten or twenty times. I mean go over the charts, bar by bar. I mean make it yours. Make it useable. Make it tradeable. Otherwise it's just feathers and rattles and old men's ramblings.
The reality -- the territory -- is price and volume. Support, resistance, buying pressure, sellng pressure, trend are all expressed through price and volume. It's independent of you. It doesn't require anything of you. You don't have to decide what setting to use to determine the high and low of the day. Your task is to draw maps of that territory that are as near a perfect representation of it as possible so that you can make trading decisions which grow from it. The more artistic license you take, the more likely you will be wrong in your trade.
