December 2 - POT (chart study)

I am still playing with the cleaning of my charts and I actually want to change the color settings I used in the past. I am not sure this one will stay, but I will give it a try tomorrow during trading hours. I am primarily a visual person and I am convinced that the colors in the various chart elements and the size of lines and text have a definite influence on how I perceive and decode market action. This tone schema I created has fewer colors:
- the doted acqua lines are the previous day high and low
- red bars are obviously down bars
- hollow bars are up bars (I am experimenting with removing the color here to see how that goes)
- black lines are the 0 and 1 value of the fib extension
- red line is 50% and –1.38% fib retracement
- green line is the 1.38 fib extension
- the MA is the 34MA (but I am not sure that will stay)

I could not trade today but found this chart quite interesting. Actually, what I would like to remember (and that is why I am printing this chart) is the 3-bar formation that takes place before the trigger bar: first a red bar that breaks below ORL, then a doji-like candle that marks indecision, and then a very decisive up bar that closes above the ORL and above the high of the previous red bar. That to me means that the bulls regain control. On top of all that, we have a NRIB (the trigger bar) that lives on the upper part of the wide range green bar.

Back to studying. Please check this chart posted by Trader X. It is educational to see how fluid is that trading. And how accurate!