Quote from jack hershey:
If you go over the Volume to consider the trending day composed of a single channel and it's FTT, then you can finish up most of the PV pre flight.
You will notice the great difference of a trending day compared to W or M range bound days.
You see the VE's on traverses, especially the first one. after a VE an attempt to expand the range on a dominant direction colored bar announces to you that the range expansion has been complete and a non dominant traverse ensues. don't write this down as a stupid rule, instead see how to understand the P, V realtionship at work.
You will be using the 3x5 cards to allow you to begin to fill in the sequence column. When you read the four years of the journals on the applications of the pool extraction algorithm you will notice one of our hallmarks is sequences.
You do not want to deal with this matter and so you do not fill in sequences. By knowing where you are in a money making segment, you DO have an advantage for making money.
we will begin to help you focus on volume, the leading indicator of price. Volume annotation fails to note, by vocabulary sybols and signals so far. again reading the columns vertical downward is how to detect these signals during the Analysis of MADA. This is a different thought process than the cluster gathering and logging in M of MADA. This thinking which is done in Analysis is under the category of critical thinking. Pencil in hand you move the pencil down each M column and think as you do this. The thought results are evidenced by pencil symbol marks in the A of MADA column.
How can sequence be seen in M symbols? First the symbols are recorded. Then when they change (a big deal in SCT) they change with 127% certainty which is higher than 100% as you see. Very certainty, so to speak. Unquestionable certainty.
If you keep what is clustering just on the chart, then you are screwing yourself for debriefing. If you screw yourself for debriefing you learn less are differentiated less and sleeping is not as constructive in your mind's work as you sleep. You sacrifice the wake up AHA's a lot because of this.
To do an ENTRY, 3 reverses and a cover is not difficult. 5 actions and a zillion HOLDS. we do all holds with certainty that comes from completeness of MADA that comes from completeness of annotating where volume leads price.
Some people do volume in hindsight because they cannot differentiate the signal and noise of volume. As we add skill levels we add collateral measures to reinforce volume the leader of price. BUT if you cannot annotate volume and know that you know, the adjuncts are merely crutches.
Here is something I swiped from Iterative Refinement.
Luckily the carryover showed up. If you do a look back by extending today's channel RTL (Spyder's) back to the left side of the chart to the LTL of yesterday, you will see how it winds up projected into today from the very left of the chart (lookback then look forward as an opening carry forward bit of work). we were in the overlap period of yesterday and the Y of FTT on the preflight is a N/A (not aplicable).
I habitually enter the day ASAP and I do it after synch AND by reading the chart annotations as transcribed to the log (Analysis, etc.). I use the P, V relationship and NOT a collection of mini rules.
For tomorrow we are past today's FTT, today's BO on RTL and proceding along a traverse forming from two tapes, the second of which is in a non dominant tape internal. We are OUT of the day's tending channel and between point 1 and point 2 of the next channel.
Let's look at volume. Especially look at the hiking of volume as annotated on Spyders answer sheet. We are coming into a period where overal ubncertainty, economically is very high. This is reflected as the generally lower than H volume almost all the time. H is the symbol ofr high.
The 10 day period we use as a baseline for curves is just the way boot camp turned out (distorted greatly) and there volume was out of the ball park.
You see by volume WHY the point 1 on this chart is the beginning of the shown short channel. The boot camp log deemed the entry on bar 2 was supported by the traverse first drawn. Noise on volume all day long was intense starting with the first synching bars.
VE occurred on both charts as scoop shape (catinary) of all volume bars for the day swung to lower and lower values quite soon in the am. This is a confirmation of the signal to noise ratio decreasing concurrently. Bumps in the hiking can be expected.
We hiked red to black to just after 13:00. Then, it became clear with the peaking bar PRV that a lot of too tight stops and other sparse long limit entry orders were hit as a "call" just "off" the bottom all at the END of price range expansion.
Blue 1 shows the beginning of traverse overlap.
You see two annotating of taping (long). I log the VE nature of the earliest beginning tape. WHY? It is nailing the "pick up" (greater intensity of the traverse the tape is forming.). This helps me "feel" the three black bars round and about 13:30. I see less noise for these minutes.
As time passes I am "dying" for the channel point 3. The black red after 14:00 is my "second chance" combo. Look at the OHLC of each bar. They are "facing" each other.
Volume for this is the final long "death" and the red whimper volume following the captiulation. It is an after thought time.
I look towards setting the traverse width going into FTT after point 3 as my volume monitoring attitude and orientation. I am home free on estimate for the time and place of the FTT. It is during a potential range expansion OR the big fav of PA traders. (the double bottom.
I am going to reverse on it come hell or high water and ride long into the sunset. But right NOW I do not have even the width of the traverse.
None of the above is predicting. What it is, however is doing the P,V relationship job of SEQUENCES.
GO BAR BY BAR FROM THE FIRST OR SECOND CHANCE OF POINT 3 REVERSAL. Do it to understand the sequence of a traverse getting started, gaining its width and running its course to get to the coordinants of time and price established by the estimate.
This ends the Advanced Beginner.
Use the Beginner Internals log tomorrow. Summon up the symbols for each of the internals for each subset: dom and non dom.
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