Thanks Anek. I'll keep an eye on it. Here's a dumb question is Time and Sales the info you referring to thats on a DOM (depth of market). Please excuse my newbiness. I dont think the broker im using (Open E cry) has time and sales option. Thanks.
Actually the T&S and the DOM are seperate data items (at least on TS, but some of the software does integrate the two.) I'd call and ask their support or ask the guys on ET that use Open E cry as well. ~Cx
Sweet charts Anek. This question might be semi-repetition, but typically you are always talking about double bottoms (either that or I missed your posts on double tops). Was just wondering if you play the DT's the same way you play the DB's like you explained on the new charts? Probably, but can never be to sure... ~Cx P.S. Keep posting charts heh.
Tuesday was an optimal AHG day, no doubt about it. Unfortunately I could not trade it due to family matters but if you been reading this journal and you did not absolutely milk it, I don't know what else there is to say to help your trading. The solid uptrend ended on a beautiful calm trendline break which was held by 50-61.8% retracement, the infamous ambush play. I sincerely hope someone here went against the trend today or called a top before the TL broke, because there could not be a better slap in the face to help you wake up. Anek
Yeah. Still trying to distinguish between some of these chart variations. Time charts were actually smoother today take the couple long bars. Anek, can you draw up one of your charts on how you would have played today? Just curious to see if it similar to what I traded. Looks like a few of the smaller time charts would have kept me in where I might have been out on my volume charts (running 5000ES btw). How'd everyone else do today?? ~Cx
well, I for one did not absolutely milk it.. I did however recognize the trend as UP, but that wasn't 100% clear to me until the 1478 high was taken out by a HH at around 9:45 am. From that point on, the problem I am still having is finding entry points. I guess I should just close my eyes, widen my stops and buy, but that is the area I am having the most trouble with. As for volume information, I like to glance at a 5 minute chart with volume bars. This is today's price action with volume, and I think the volume bars tell a lot.
If you are asking which could be more important, I'd have to go with the trendline. 50% retracement is just sort of a rule of thumb that should be watched & considered. I know for fact trend lines are watched heavily as you can see the reactions that occur in price action when they are validly broken. ~Cx P.S. On a side note though, a retrace breaking 50% with conviction does alter my views on the current situation.
It was quite a trend day! Balance was positive, just a little more than the loss I had yesterday ... I should learn to adapt the stop to the volatility of the day, though. I had problems yesterday (too large stop) and today (too small). Have a nice evening over there! PM.