Now look at these charts and consider PROBABILITIES . Consider is it as simple as this ?
That ABOVE the Blue Line the Probability of a move UP is greater than a Move DOWN and that UNDER The Red Line the Probability of a move DOWN is greater than a Move UP !
And to GAUGE the changes and changing in those Probabilities , ONE just has to count .
SYSTEMATICALLY and OBJECTIVELY
(1) The Price movement
(2) The Time elapsed in each movement
(2) The Time elapsed in each movement
(3) The Comparative lifting power or pressure
etc.
WHAT MEANING THEN
Mechanical/Discretionary ?
Consider is it as simple as this ? .Consider How the Diagonal on a P&F chart with a meaningful scale ( scaling laws ) ..Defines something very special and unique ..How unlike any lagging indicator ?...That these Diagonals are drawn ahead of time. That they project FORWARDS always from a NOW .
They are what make the Discretionary/Mechanical dichotomy of less import ( in the UNIVERSE of the COMPLETELY REAL )..
The Diagonals in a very real sense are ALL Possible Scaling LAWs combined... The Diagonals are in a very special sense... Counting for us. Counting even what we maybe do not even realize should be counted. ( unknown Scaling LAWS )
How sensitive the Diagonal LINE .How close the action conforms .. reveals something about the usefulness of and relative correctness of a particular resolution...
Consider can it be as simple as this ? YES ..IF You want it to be and if the chart and line are both kept sensitive
Consider that it is the 45 degree movement / Vector that is KEY
What does Sensitive involve......Relative Signs of Weakness & Signs of Strength , Behavior and Change of Behavior ... Ease of MOVEMENT..........And importantly EMPTY SPACES versus TIGHT FORMATIONS... and especially on small scale charts ==> discontinuities/gaps
Point and Figure...The chart.. The Point and Figure CHART ( movement/Intrinsic time ) is what makes the Diagonal........This is very important to realize and understand...
Motorway
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