{quote} {quote} @skyway -- @dkrock rarely gets into details, but I bet he and @parisboy would see things eye-to-eye. A while back @dkrock likened PA to a winding river with a boat floating from bank to bank. And this is exactly what we are doing here -- I think. We float from side-to-side, but always tend back to the middle of the river -- before heading to the other bank.
everything related to my favorite pet subjects is welcomed !
Guys use often old theories reshaped with their own words. For example you substitute Bank to Band.
Why not ? Anyway I prefer to give the genealogy.
@dkrock likened PA to a winding river with a boat floating from bank to bank.
My trading design was inspired by thinking about traveling down a river. You can travel in the middle, or go to either shore anytime you want. Meanwhile the river continues to flow in one direction. The river bends as it flows. So, the river has a constant movement that bends and you can also bend yourself within the path of the river. If the river is your primary route, and you can see the bends in it, then whether you go from shore to shore, or stick in the middle, you can also navigate the bends. Even if you completely turn around, the process is the same, but you are fighting the current. A trading graph works much the same way in that it constantly moves to the right. It has a primary direction, up or down, as well as swings within it (the bends). Meanwhile, world-wide traders make buying and selling decisions (travel to the shore). If only a few go to the shore, it is generally a wrong decision, or head fake. If the size of the group leaving the middle and going to the shore increases substantially, then you get consolidation because the group has stopped traveling. When the group is in the middle and navigates the bends, you get a swing. The task is to keep track of how many traders are in the middle, and how many are going to either shore. If you trade support/resistance, or price action, then you are only looking at one shore. If you are in the middle though, you can see both shores, as well as the upcoming bends. I created the middle and the shores and simply monitor traders as they navigate the river with me.
It reminds me of the "River Theory" of Glenn Nealy who ended by saying that his interpretation of Elliott Waves was not very effective in the present market conditions.
By the way entry price to his new wisdom was something like 5.000 $
Hereunder a bonus : the basics of River Theory for free for all Lazy traders reading your thread !
! Please stay tuned, jdva
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Key is the Division by 8 of : - the Price Range - the Time Frame because one of Gann's key concept is "when Price and Time "Squares" (are balanced), you are close to a Directional Change" Correct Scaling is the Key for Price as For Time {file}
