[elovemer]

...another issue.... for me .... is that Taylor said not to skip days which are holidays and weekends....
... as part of the count....

.... if i understand it .... this means that if friday is a buy day .... then saturday is "sell day" ... and sunday would be "short sale day" .... making monday a buy day again....

?????

[HAKUNA]

Think only those days on which markets are open are to be counted IMO

[BlowFish]

Originally Posted by elovemer »

... as others have stated here.... even if your count differs .... as long as you follow Taylor's rules.... you will be ok.....

... nice job everyone.... still learning here....

One of the first things that I noticed with Taylors' work was that he seemed to have a firm grasp of price action or the 'tape' as he refers to it.

[HAKUNA]

If you are referring to price/vol (not to DOM or time/sales), you bet Taylor had a solid grasp. Lots of threads are devoted to reading this against support/resistance etc which is fine, however in realtime it does pose problems ie. which is the genuine s/r, which one is going to hold, is price forming its own intraday s/r etc but with Taylor's method at least you are armed with some sort of plan, various scenarios which are likely to unfold, what to look for, where to look and at what price level etc and then follow the rules to capture a reasonable chunk of the main trend. that's it , no need to sit there and sweat it out whole day.
Certainly won't have to engage in esoteric/cosmic discussions on "those who have this belief and those who have that belief or thou shall or thou shall not etc "

[WHY?]

Actually, he said right the opposite. You don't count holidays or weekends.

"The book is always kept in this order, never change the continuity and there are no lines left open for Sundays or Holidays, the market is considered as a series of continuous sessions without a break." P 15 The Taylor Trading Technique

What Taylor mean't by the above was that in his book he didn't have a blank line for Holidays...or days the market was closed. He totally ignored such days as if they didn't exist. His book was made up of as if the market was continuous with no interuptions of holidays or days the market was closed.

[WHY?]

Taylor would have used classical tape reading (price/vol). That is why VSA could be useful to coordinate with Taylors method.

[elovemer]

.... got a possible low made first today thursday.... for the long entry...
.... low of tuesday held..... which was my middle day....

.... if this holds.... then the play is to hold for a large gain to close out same day.....today
.....or hold to close out monday for a high made first.... and a short

...if it does not hold..... then the play is to look for a long entry on buying day low violation on friday.....which would be a lower percentage play.....
...edit... we all have different counts... that's ok...

[WHY?]

Originally Posted by elovemer »

.... got a possible low made first today thursday.... for the long entry...

Good job Elovemer! Nice Taylor play. I will have some more comments on todays price action later on tonight as I have other things to do today. Again, general downtrend...going long using Taylors rules...bucking the the longer term trend and making money. Why? Because of these cycles and the rules that apply to each cycle. Today was obviousley a failure to penetrate. What does one do in such a case? The answers are to be found in Taylors book. I will make more comments tonight..gotta run.