I went long again at 51 even as part 3 started. Each part on 5 min chart is 4 bars long. The retrace off the peak I was sidelined for. This is primarily because I have a lot of debriefing to do and this is a nice day fro making enough money well above average.
A squeeze during stall signals a long, then I assume a divergence in stall signals short? Does it matter in which direction YM diverges from cash? I've been trying to understand your methods and have slowly been piecing it together, very interesting
Part 3 ended. My exit was 52.1 and we are not in the resume of the prior trend. What this means is that you can use parts 1,2, and 3, as a brief interlude, then just put what ever chanel you had prior to 11:00 translated (moved upward in this case)as a guide to the rest of th day until the PM starts. It is a channel that is lateral and about 3.2 points wide. I am sidelined to write this. I will be slaloming the channel with trades about every 15 mins it looks like.
My econ calendar doesn't show when will he has a speech. Does anyone know where can I find such info? Thanks!
Look at the channel (lateral) as a move along R (Resistance.) A continuing retesting where insufficient volume usually causes FBO's. The P,V relationship is what you need to examine this stuff. The stuff generally promulgated in ET about volume is not correct. You need to be extremely well versed in how S, R and daily ranges work. There is a major myth prevalent regarding working from a fifth grader calculation that choses a center point daily or something. On the contrary, the alternative is the P, V relation. This AM is an example of being at 50% of margin/contract for half a day's work so far. If you look at the announcement thread, I mention that this is the day to learn about which of your emotions (busted ones) that run the show for you. Four parts to trade. Which ones did you monitor and get surprises from your emotions?
The PM started on a P, V relationship deal. R could only be broken by the leading indicator of price, a volume BO. I scaled in starting at 53.0. We know from the am that the segments of moves are 4 bars (5min). The translated channel from pre greenspan had six cycles and you would be in the 7th cycle (short) leading into the PM BO that was telegraphed by smart money this am at open. At this point you are well over 50% of margin/contract. The announcement periodicity was 4 bars. You had a spike to reverse on for ending part 1 and starting part 2 (I just exited), the 4th bar of part 2 was the reverse to begin part 3 (I entered (scaled)). Part 4 was a resume of a lateral channel with 6 slaloms (last one was a loss). The PM 4 bar trade was just a 5 point "taping". Tomorrow is another Greenspan day. Think of it as a "blue moon" day for making money. If you are able, consider posting your views ahead of time tomorrow. Sorry my inital post was not understandable. If you could get what I said in the announcement thread, maybe it would have been better. There is another thread as well that shows how to use smart money as a leading indicator all the time. If you get both of these understood, it is relatively easy to make a multiple of each days H/L spread. Your thread about after being a loser and the IM I sent you regarding that, is the final piece you need to gt really rich. You are very close.
Jack, I knew someting was cooking this morning when I noticed the DJ offset and also the very low TRIN. I didn't manage to make any money out of it though, so I have some questions. 1. I think you said that you entered on a VDU bar BO. Did you wait for the BO of this bar or - given the smart money bias - did you just go long? 2. If there hadn't been a VDU bar, how would you have got in? 3. Having managed to get in, did you not consider exiting when the long 11:00 bar completely gave up all its gains on high volume?