FWIW: 1. Long or short? This appears to be a time to wait. 2. Where's the next best trade? Depends if price breaks to the upside and retraces for a long entry or breaks the up trendline and retraces for a possible short. A higher timeframe showing s/r levels might be helpful. 3. Where are the elephants positioned? They are in the bushes waiting for resolution of question #2 4. How do we work it out? See #1
r u taking us for an idiots or want us to consider u for one and to lie to u? to tell u when and why is really to tel u the method... those who will reply to u with the explanations - do not really have the method , those who have it - will not reply use your own head
This all reminds me of an old story from Stanley Kroll's Dragons and Bulls. It was from a chapter entitled (apropos this thread) "Those That Know Don't Tell; Those That Tell Don't Know" I had an interesting experience recently, which exemplifies this point. The research director of a large Hong Kong investment firm showed me a price chart of some stock and asked for my opinion. "If you are a buyer or seller of this stock,: he asked me, "how far would you project it to move?" My reply was simple and direct. "I don't know." The gentleman was persistent and repeated the question. My reply was the same, but this time I answered in greater detail. "I don't think anyone could give you a competent answer, merely on the basis of a single price chart with no further information or technical studies." Then I proceeded to suggest what additional information and studies I would want to examine before even attempting to analyze the chart. "That's extremely interesting," he replied. "Do you know that I've shown the same chart to at least six other brokers and analysts, and every one of them gave me a definite answer with specific buy and sell points and even price objectives. And all of them combined would probably have less years of trading experience than you have." "All I could say was, "That's not surprising; it's what I would have expected." Those that know don't tell. Those that tell don't know.
I am not asking the story telling in any chart from the hindsight, we can easily find this type of price action "story" in this forum or any Amazon bookstore (such as those in Al-Brooks book). I am asking is if you are in the market that tine and AFTER you see the big red candle, what you will do ? Stay sideline, jump in as bull or bear ? What will be your PT and SL ?
Or Those who don't tell also don't know, aka the fake PA expert try to come out with excuses that why they can't tell.
Those who don't reply doesn't mean they know, those are aka the fake PA expert try to come out with excuses that why they can't tell or reply. RN did respond to me in private thread on this particular chart pattern, and to be honest, he get it right in his "setup". Hint: For anyone that really know the PA or been in PA/screen time for long time will sure recognize this pattern, and should know the answer for this.
galvin, Try your game again via the below chart. In fact, one of your questions in your opening statement was about "context". Guess what, this is a real-time chart that has not had any context info removed in such a way that no trader actually trades that way. Now ask your PA experts about this chart. P.S. I can post another real-time chart at Friday's close of a different futures instrument and you can then ask about the "next bar" prediction for Monday. I will include the name and time frame instead so that the PA experts have more info to chew on instead of the hindsight no name charts you prefer to play with.