We're at 250 pages or so. Do you suppose it's possible we missed some stuff. I spent the day reviewing posts related to volume as that's the next focus of my journey. Below I copy/pasted some words by Makosgu that I somehow missed in my torrent of channel work.
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For each VOLUME PACE, I have a different expectation for how far the bar will extend. This is the real eye opener for PRV. Given my continous rt PRV value, I have an expectation for how large the PRICE bar will be. The +/- tells me whether I can expect to extend the DOMINANT direction (+PRV) or retrace back against the DOMINANT direction (-PRV).
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I am "LOOKING" for dominants. If I have a DOMINANT going against the grain (ie. direction of the channel), I reposition and start new channels. Dominants require +PRV. For a -PRV, I am on alert for either new boundaries or for the next +PRV dominant...
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At the end of a short short term channel it is a B\/B
At the end of a long short term channel it is a R\/R
If I have increasing volume that is going against the previous dominant, (ie. the increasing side of a R/\B or B/\R) then the extreme of the previous PV Gaussian cycle was my FTT. For spyder and I, we view it from the perspective of if the surge does not reach my LTL, it FAILED TO TRAVERSE
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If you get hung up on 2 bars, you miss the big picture. If the majority of the bars are business as usual, do not concern yourself with the 2 outlying bars. Alot of traders screw up all the time by concerning themself with every little detail. PV is about the herd, NOT the actions of a lone trader within the hred. If you nail identifying DOMINANTS and NON-DOMINANTS, then you will "see" that the big picture is a continuous non-failing sequences of these cycling pairs. Every CHANNEL, PENNANT, LATERAL have cycling Ds and NDs. Sometimes, you get the D and ND on the same bar. For now, classify these two bars as having both a traverse (dominant) and retrace (non dominant).
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Since pts 1,2,3 are critical values of the channel, I explicitly correspond pts 1, 2, 3 with volume.
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We always have to differentiate concepts that are rigid (ie. +/-, pt1,2,3) from those that are dynamical. The period of a gaussian is dynamic and is in accordance with the pace. The characterisation is that when the PACE is relatively fast (ie. MEDIUM/FAST/EXTREME), the period of the gaussian is long (ie. 15M-45M). When the PACE is slow (ie. SLOW/DU/VDU), the period of a gaussian is short (ie. 5M-15M).
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Thank you very much Mak for your incredible insights. Your posts are appreciated and EXTREMELY valuable.
