Boys, boys...... if we can't play nice, I'm going to have to take your X's and O's away from you until you can play nice together.
Another view:
A p&f chart is 'time neutral', it doesn't care when an event occurs. The only hard, fast rule is that each column, at the minimum, has to occur on a separate day. A bare, X's and O's only, p&f chart gives no indication of actual time duration, only the sequence of supply and demand patterns. The buy/sell/hold decisions, however, will be the same with a 'date commented' notation as they would be with a bare, X's and O's only, notation.
For example, given a p&f chart with some number of columns of varying height, let's say 15 columns. The columns only show X's and O's in them. Then the only thing that you can say about it is that it is at least 14 days old from the day the first column was plotted.
It can show any of the classic p&f patterns on it. Is a triple top that forms in 5 days any more significant that one that forms in five months? Do we care if the first two tops formed in 3 days, or 3 months, apart and then the third top formed two days or six months later...
AND the time to buy or sell is when the signal, or pull back, is given. And that is indicated on the chart, when the event occurs.
Ben A. |
