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Hi - On the slides (thus far), Al does not use a price axis, making it impossible to know over what range of price change the pattern occurs. Sometimes when zooming in and out on my own charts, I can make a trading range look like a rollercoaster and vice versa. I'm not sure how to manage this as I work with my charts day to day to assess patterns, entries, exits, etc. Any thoughts?
I understand your concern and we all have experienced the same issues when zooming in and out. The way to solve it is throwing away the zoom!
You will always have smaller patterns nested in bigger patterns and smaller time frame patterns within a bigger one. For pattern recognition, the absolute size of the bars has not interest, only the relative size to the other bars. So Al does not show the axis so you can focus on the pattern, valid for any time frame, and recognize it in yours when it occurs.
I don't remember where, but he gave this answer somewhere, maybe @richardhkbtc-com can tell.
Hi - On the slides (thus far), Al does not use a price axis, making it impossible to know over what range of price change the pattern occurs.
Hi Thomas,
Further to @luidopuig comment, yes, Al has talked about this several times.
The key point is that if Al used prices on the y-axis, and/or dates on the x-axis, traders will immediately associate the pattern or learning point, with an associated instrument or time frame. This then closes your mind to all other occurrences of the exact same price action on any other chart you may come across. You are then limiting your recognition skills without realizing it.
Price action applies to all instruments and time frames. We all should know that but so easy to forget this fundamental fact. So, trying to work out what price range a bar or pattern covers is totally irrelevant. Simply look for price action on whatever chart you are using, and work with that. If the bar is too big, and you cannot afford to trade, wait for the next setup.
