Trading Price:Phase One:Observation

While it's great that so many people have become interested in this, the charts I posted were only to get the ball rolling. Of much greater benefit would be to post something you yourselves have been observing, particularly if you don't want to make the commitment of a journal. It's not about CWS because you're not trading anything. It's first of all about learning to see price but also about seeing something interesting that might lead to a hypothesis or supposition that you want to test, which is where the backtesting thread comes in.
 
dbphoenix said:
Here's another. The numerals are there solely for reference, i.e., to enable whoever wants to comment to point to a particular bar or set of bars and not get lost (e.g., bar #27).
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when anoting this chart i realized i would misread bar 53, thinking this is the the start of an upmove. how to read this properly?
 
sharktooth said:
when anoting this chart i realized i would misread bar 53, thinking this is the the start of an upmove. how to read this properly?
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If you're referring to the chart in post #21 (and I assume you are), reading left to right, bar 50 would be the beginning of a potential upmove and the next three would join in that. But 54 wouldn't be in synch with an upmove. In fact, it's longer than any of the three preceding bars, and, overall, this entire upmove beginning with 49 prints a lower high than the upmove topped by 41.

Is that what you meant? Not thinking about what trades but about what traders are doing.

I realize that referring to the bars by number can be a pain in the ass, but annotating the chart and saving it somewhere and uploading it to ET isn't a breeze either. Your choice.
 
sharktooth said:
yes exactly, thanks

is saw potential from bar 53, after penetrating high of bar 45 and bar [51,52],
to reach the area of 41 bar high
but indeed the upmove starts at bar 49-50
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I see, so you were looking more for confirmation, which is one way of defining an upmove. However, once gets into backtesting, he may find that that's too late for a profitable trade. But then that's partly what backtesting is for.

Of course, you've been at this for 12yrs, so I'm not telling you anything you don't already know.
 
dbphoenix said:
I see, so you were looking more for confirmation, which is one way of defining an upmove. However, once gets into backtesting, he may find that that's too late for a profitable trade. But then that's partly what backtesting is for.

Of course, you've been at this for 12yrs, so I'm not telling you anything you don't already know.
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12 years true, but dont forget I have only 200 posts to my current name and
thanks
 
dbphoenix said:
A Harvard professor once asked his students to do a special report on fish. His scholars went to the library, read books about fish, and then wrote their expositions The students were shocked when, after turning in their papers, the professor tore them up and threw them in the waste basket. When they asked what was wrong with the reports, the professor said, ‘If you want learn anything about fish, sit in front of a fish bowl and look at fish.’

– William O’Neil​
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Fairy tales from William, and the supposed professor.
 
dbphoenix said:
While it's great that so many people have become interested in this, the charts I posted were only to get the ball rolling. Of much greater benefit would be to post something you yourselves have been observing, particularly if you don't want to make the commitment of a journal. It's not about CWS because you're not trading anything. It's first of all about learning to see price but also about seeing something interesting that might lead to a hypothesis or supposition that you want to test, which is where the backtesting thread comes in.
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Here's a suggestion: the conditions surrounding parabolic reversals. There sure have been a lot of them lately.
 
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