NCA 2: THE CHARTBOOK

[IgazI]

"I started to realize that stock movements were not completely haphazard. Stocks did not fly like balloons in any direction. As if attracted by a magnet, they had a defined upward or downward trend which, once established, tended to continue.

Within this trend stocks moved in a series of frames , or what I began to call "boxes". They would oscillate fairly consistently between a low and a high point.The area which enclosed this up-and-down movement represented the box or frame.

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These boxes began to exist very clearly for me.

This was the beginning of my box theory which was to lead to a fortune.

This is how I applied my theory: When the boxes of a stock in which I was interested stood, like a pyramid, on top of each other, and my stock was in the highest box, I started to watch it. It could bounce between the top and bottom of the box and I was perfectly satisfied. Once I had decided on the dimensions of the box, the stock could do what it liked, but only within that frame."

[IgazI]

20 minute chart, 60 minute sets, wicks filling the gaps:

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[IgazI]

I'm liking this new look. . .maybe 'wicks' aren't so bad

- price closing above 3 frames ends a down trend.
- price closing above a frame is a signal to buy.
- wicks point to the direction of loss
- close overs point to the direction of profit.

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[IgazI]

Just for fun.

There is no way that I could keep up with plotting these frames by hand

2 minute chart, 6 minute sets:

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[IgazI]

Wen moon?

- price closing below 3 frames ends an up trend.
- price closing below a frame is a signal to sell.
- wicks point to the direction of loss
- close overs point to the direction of profit.

20 minute chart, 60 minute frames:

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[IgazI]

I purchased a Microsoft Surface Go 2 laptop instead of bothering with Parallels to run Windows applications.

I was looking for a small cheap coffee shop laptop, and I'm actually surprised that it is not complete trash

- the keyboard is nice, better than a magic keyboard, IMO.
- it has Touch ID that works reasonably well.
- the size, weight, and feel are all good.
- the display. . .it's no Mac, but it's also not terrible.
- the sound is loud and clear.
- the brightness is acceptable for coffee shop use.
- it runs applications just fine (i5 8 256 version).
- it has a touch screen . . . I don't really know why, but OK.

I think that I would ding it for display quality and price vs value,
I'm going to give it an 8/10 rating.

I like it enough to keep it.

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[IgazI]

If you are expecting a drop then focus on price closing lower than a closing range.

if you are expecting a rise then focus on price closing higher than a closing range.

If you don't know where you are and where you are going then you should look at a daily, weekly, and monthly chart.

20 minute chart, hourly sets:

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[Jhx]

I was exploring something about the closing ranges. Sometimes it gets the closing range break earlier / later depending where you draw it from.

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One to the left:

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Two to the left:

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Would this change the point where you start considering the new direction of price?

(I posted this here because it was 100% related to the idea of using closing prices, if it's detrimental to the thread let me know and I'll move it to my thread)

[IgazI]

I was exploring something about the closing ranges. Sometimes it gets the closing range break earlier / later depending where you draw it from.

Would this change the point where you start considering the new direction of price?

(I posted this here because it was 100% related to the idea of using closing prices, if it's detrimental to the thread let me know and I'll move it to my thread)

In each scenario you are trading the underlying 5 minute chart and you would trade it the same no matter where the first set starts; as long as you are consistent in your selection that is all that matters.

Many a year ago now I would only start charts like these after placing a trade using a daily chart and they would only be updated when I called and asked for the current price; originally I didn't even use a specific close, I would just try to ring him up every 30 minutes.

Now I will just go back two day markers and plot sets into the current day.

I don't think that it is something that you should worry too much about, there is plenty of wiggle room when using this charting method.

[IgazI]

The second line would have been your last hope of holding long.

You and I do not know how low it will go, all we know is that if we see the opposite then price is going up.

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