This was something pretty sweet that I noticed on the S&P Emini (ES) yesterday... I took the first two pictures at the close of market yesterday. Notice the beautiful head and shoulders on the 2584 tick chart. The target for for me was around 903-905. I don't trade pre-market or hold positions over-night, and I rarely make calls for the next day, but this was just too sweet to pass up. Here's the completed picture for today...
I see 100 of these pattern set ups a day in the ES. Some work out , some don't. Not realistic to cherry pick. And I never go over 2566 ticks, the 2584 tick chart is too 'thick'
You're missing the point. Yes, I see h&s all over the place. I wasn't "cherry-picking", just pointing out how clear that pattern was and the result. And actually, I use as high as 10,946 tick charts... I don't use them to actually take my trades off of, but they help for longer term trends and areas. I prefer larger tick charts over minute charts.
Chris, I keep flipping from minute to large tick for anchor chart but always go back to time or volume charts. I do use a small tick chart but I like either the volume or time for anchor. Just preference or am I missing something more important? Thanks again, V.
Whatever works for you... Think of the market as a movie. It doesn't matter if you're using tick or minute charts, it's still the same movie. The only difference is the perspective you're viewing it from. For example, minute charts are like watching a movie on a regular screen, where tick charts are like watching 3D or Imax. Same movie, different perspective. I'm better at using tick charts than minute charts and a volume indicator... it just flows better for me. Good luck, CD