Sorry. That's the opening low. Two bars later it seemed to break, but pulled back immediately to resume the advance. Therefore, I left the line where it had been. These make a little more sense when they're drawn in real-time. Which is why drawing trendlines in hindsight is usually misleading. --Db
Now we have a nice setting for what's next. We can do a part 1 of the original post. We need to find the new points 1,2 and 3. Then we can watch how to trade the trend. For intraday I do not go into market until after it synchs. Everything up to now is just a warm up to observe. What has been going on is just history before the day synchs. Synch means the cash and futures are moving in parallel price wize. If i were doing this with my data I would use volume as a leading indication of what price will deo to set up the daily trend that is coming up.
Jack, Thank You. Could you discuss the the next step. This is what I got so far... 1,2,3's......... draw the channels throughout the day. now what is this volume thing. Michael B.
Jack, Also the signifigance of the 9:30-9:50 time zone was noted. We have a channel drawn... we got a breakout...but it retraced back down tothe the top channel line and we have a half an hour to the zone. What happens now? what does volume tell us...do we draw it as a continous line indicator with varying periods...or do we use our histogram? Michael B.