Hi by50, exellent post. IMO not enough sharing of how people trade. Don't normally post here with the "big boys" as getting my TA L plates over on Charts thread. One of the "silent watchers" I guess.
Have to love a trading theory from a "smart trader" that relies on following the "smart money". IMO no doubt that KISS is what TA is all about; its just that before u can impliment KISS there is soooooooo much to consider/learn & dismiss???
have a few q's if u don't mind?
1. what system do you use to draw: "red dots are reference points basicly they show where the market moved out side a range of the previous 50 bars"?
2. what system do you use to draw: "red bars are where the volume was higher than average"?
3. can u explain a bit more the details of chart 2; just not familiar with it or its basis; in particular "bars have been made into letters and the time defalt has been removed , compressing the data to show where value is "?
Thanks & keep up the interesting charts/posts.
gj
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