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river
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Disclaimer: I view the P/V relationship through the prism of a different iteration of the methodology than Spydertrader presented here at TL. Short answer: If your MADA is reasonably proficient, it doesn’t matter. As soon as you think you have a FTT, take the trade and continue to use your MADA routine to ensure you stay on the right side of the market. Longer personal view answer: Annotating three levels of ‘containers’ allows you to trade the middle level while the faster level aids timing decisions and the slower level gives context. (If the previous sentence wasn’t already self-evident to you, spend some time sketching the idealized P/V patterns on three levels simultaneously.) Know the clues when the trend on your trading fractal is likely to fail to traverse the left side of your ‘container’. FTTs occur after point 3, typically are preceded by a flaw or a formation, and occur at volume peaks. When you arrive at the point you think you have a FTT on your trading fractal, monitor your faster fractal for a b2b or r2r volume sequence and execute your trade in the indicated direction. After you execute your trade, be sure to continue to utilize your MADA routine and the bookmark and rtl failsafes Jack Hershey discussed elsewhere. As long as you know the price and volume sequences (what must come next) you won’t have to concern yourself with a search for conformation that a FTT just occurred because you are prepared to take action to stay on the right side of the market. -river
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I've attached a picture for you. The sketches can also be found on the third to last page of Volume 1 which stephan just posted a couple of days ago. -river
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Evidently $500. No word on whether or not that price includes a set of steak knives. -river
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Apparently not. -river
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gltrader, I'm not familiar with any specific "rules" about clean page 4, but elsewhere in cyberspace there is an abundance of posts about "clean page 4". You may have better luck increasing your understanding if you start there, study the discussions, and come back here to ask specific questions, if necessary. HTH -river
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Recently, if I understood you correctly, you suggested that the information provided in this thread is necessary, but not sufficient, to trade these methods profitably. A discussion of the information that you hinted about earlier would move this thread in a productive direction. Thank you for your annotated charts earlier in the thread. -river
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Would you mind elaborating a little more on the biggest blunder? Are you referring here to Jack's "The Pattern" (the three price moves on four volume moves per half cycle), or "channels" in general, or something else? Thank you for sharing your experience. -river
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Mr_black, I recall being impressed by many of the charts you posted of trades using the methodology, years ago, on another site. Your quotation above startled and surprised me because you appeared (at that time) to consistently extract meaningful, positive results using the JH method. In your experience, what aspects of the methodology are “science fiction”? -river
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lol--wilddog, it wasn't meant to be rhetorical but it appears that it was. -river
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jbarnby, Thank you for your contributions to this thread, especially your recent postings. I have a couple of very sincere questions. What do you suggest, to those of us still trying to fully understand fractals? If the information in this thread isn't enough and if someone isn't already your friend (and therefore cannot join your chat room), where does one turn? Can you give us a few clues without crossing the line you wrote about above? -river
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eyeamravi, Welcome to the thread. I don’t consider myself an expert on the methodology but I am at least a few steps into the journey. Perhaps someone else will offer their answers to your questions while my post sits in queue to be moderated before it appears and hopefully if anyone finds any of my answers lacking they will post their comments. 1) A retrace and a reversal both occur on nondominant volume as price heads toward the RTL, a retrace becomes a reversal as price crosses the RTL on increasing volume. This is true on every fractal. 2) Perhaps Jack meant that if price has traversed its container how can it “fail to traverse”? 3) A Channel FTT would also be a traverse FTT and a tape FTT. I cannot envision the scenario you describe. 4) If we are not in “change” mode, then we must be in “continuation”. 5) I am not familiar with any concrete SCT rules. Spydertrader has repeatedly said that the methodology works on any instrument and any timeframe provided there is sufficient liquidity. The tools you mentioned, price, volume, trendlines and PRV, are sufficient for the methodology. Of course, your level of success using the tools available to you depends on your journey. HTH -river
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Great question. My response to Jack in that thread indicated I thought we were forming a pt 3 at the end of the day (see chart snippet) and I anticipated a "long" on the open from pt 3 to ftt. This morning's open invalided my anticipation. I'm still trying to annotate this time period to my satisfaction. How would you annotate the end of yesterday and today's gap adjusted open snippet? -river
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Channels for Beginners. I believe this is the one you requested, it's the only one I could find by Bundlemaker. Channels.For.Beginners-bundlemaker.wmv