Indeed, Jander and Maxpi. FTTs usually occur at probable S/R intraday or at S/R from longer time frames. I find channels useful intraday only for monitoring bull and bear flags. Otherwise IMO they are just distractions that tempt you to make low R/R trades with inadequate information. See Errors #1 and #2 above.
You "aren't making claims?" LOL! You've made THOUSANDS of claims on ET alone... you even made claims in this post where you claimed you don't make any. In fact, making claims is your bread and butter, your bait, because it stimulates greed in the naive and in newbies who need a guru. Then you follow up with vague, Grobian gobbeldygook to foil testing and keep 'em wanting for more. Your doublespeak is as impressive as your documented performance in a trading contest, -24%.
Strange, the following post would appear to be one of many of your posts making what appear to be claims.
Since the thread has gone to hell anyway, I'll make an OT remark. Since November of last year, we have witnessed a schism in SCT equivalent in import to the separation of the Roman Catholic and Eastern Orthodox churches over a millenium ago. Jack's first post to this thread referred to the progressive levels of SCT trading, beginning with Beginner. Those of you who have been reading Jack as long as I have will recall that Beginners begin with Beginner Rockets. But Spydertrader has the current generation beginning with FTTs. A subtle difference? Not to me, as Rocket identification is based on high volume, whereas FTTs mostly occur on low volume. Oh, and while I'm at it, I can read a volume chart as well as the next guy. If Jack is trading 10K cars at FTTs, why is volume there often less than that?
you missed the first post of the first page of the future thread to wit, thus Beginner Rockets is still there but on PVT side.
First thing first: look up the definition of fractals, i.e. in wikipedia. That'll invalidate your question. Channels are accurate guides on their fractals; they describe the market sentiment projected towards the future. They define the framework. The volume is like a gas pedal that indicates the pace of the market: a rising volume indicates an acceleration of the current sentiment. A falling volume indicates a reduction in the strength of the current sentiment: a pace reduction, a retrace, or a reversal. Actually "volume gaussian" it is a pretty suggestive name. In its own fractal, each volume acceleration / deceleration follows pretty close the shape of gaussian: starts with a slower slope, that increases to a maximum, then slows down until the volume reaches its peak, and the same happens on the volume's falling slope. The price's volatility correlates with this very well. When you don't understand something you're tempted to conclude it's wrong, but if you keep an open mind (the pupil attitude, as the old Chinese book advises) you might eventually understand, increase your knowledge, and benefit from it.
Oh please... drop the holier than thou attitude. You're so transparent. You guys are a cross between the energizer bunny and a really, really cheesy infomercial in which stooges shill for some phony guru's money making scheme. OK genius, your post implies that you "understand." So please tell us which level of SCT trading you're at. Even AB (one rung up from the bottom) makes "2 plus" the "H-L multiple," so how many millions of dollars have you made so far this year with the Hershey "method?"
Millions? Jack's only effort was to lose 26% in a trading contest and none of his glassy eyed drooling drones have ever posted a live trade or P/L of any kind.. gutless efforts really
Error #4: SCT Undertrades (ET does not deserve to know what Error #3 was. I gave you a hint. You can figure it out for yourself.) Jack in his first post to this thread (much appreciated) stated that the expert practitioner trades upwards of 40 times per RMH session. Using elementary principles of microtrading, this is manifestly missing opportunities. For example, Jack says to avoid the first 15 minutes to let the futures and cash "synchronize". This arbitrarily conservative dictum misses many profitable microtrades, like my first trade today, 3.5 NQ points in 35 seconds. I estimate that at my proposed uber-expert level, Jack could make 30X the daily range on a wide ranging volatile day like today.