ES's STO 14,1,3 : exit LONG
My interpretation is that the short bars correspond to the lowest volume associated with the end of a retrace (see also Jack's observation about...
This is the WMCN based on my current view of the daily ES. ESM8's daily volume was affected by the roll-over and by the Easter holiday.
I find careful gaussian annotation being very helpful.
I guess, you can't really describe what you did in any of your failing trades because you don't have yet a process you're repeating every time. So...
Pick only one of them, and describe in detail why did you take it (volume leveles, formations, line crossings, OHLC BOs, etc.), and when you...
Suggestion: Pick one of your unsuccessful trades; post snippets of your annotated ES-5min and YM-2min charts; describe in detail your decision...
And 10x. EDIT: Look how parallel is Jack's dominant traverse to the current channel, and how close to its RTL! His Pt2 is only a little early.
Red line is Jack's.
Looking at the dominos ... from another angle ... :) EDIT: Also, tax time (with its cash flow) is coming.
Thanks!
I've just interjected this ESM8 daily chart with indicators as a possible tool to look at a market that doesn't offer volume data. From time to...
This is an opportunity to ask for guidance from our old friends STO and MACD. :) Jack points that STO 5,2,3's 50% xo is a leading indicator for...
You need more than the volume peaking to reverse. When using just the 5 min chart, the (right) trendline should've kept you in the trade at 00:10....
My take: <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1845437>
Those are retraces: non-dominant traverses. The pt2 to pt3 is a retrace of a retrace.
I've followed Spydertrader's explanation of the period you inquired about, and I'm not arguing it. My interpretation (at the time) was a little...
Check TIKITRADER's daily chart to see what happened during the next 2 days (Tue-Wed 1/22-23) following Spydertrader's evening post. This Tuesday's...
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