as you see the short sub channel has a VE and the VE then closes outside the LTL and on increasing volume. We reverse and take a few more points from 1059 down to 1055. Another 100 plus bucks on the 50 contracts.
we see the PACE of the market has gone down to the volume mid rang so we drop down to the sub sub anotating level and uold thru 3 moves on the sub sub level where we find an FTT or later a BO on the sub level. This is a run up from 1055 to 1061 6 points on 50 contracts is much more than another 100 bucks. so we have made a little over 300 bucks already today and we really messed up a chart with left and right trend lines on two levels. We reverse out short at 1061 a price previously mentioned in this thread. I put in a red bookmark to break up the monotony. This is the fourth rule that has been introduced.
the bookmark is hit so a wash reversal is done to GET on the CORRCT SIDE OF THE MARKET. SO YOU ALWAYS BOOKMARK EACH REVERSAL AND SIMPLY WASH IF IT IS HIT BEFORE AN FTT OR BO OF THE RTL. We went long on 1061 and reversed @ 1065 on a VE that we on increasing volume. second use of this rule so far today. Only another 4 points on 50 contracts. Another 100 bucks it looks like. we're short from 1066. That volume is dropping off
....this thread gains some good direction and then gets slammed. maybe the people that arent here for any reason but to cause a problem can just stay away. it takes more energy to disrupt the thread than to just go somewhere else
oh got some short volume and we had to use rule 5: fanning. See that pink rtl and ltl get fanned? See the peakingshort volume on the FTT of the fanned channel? Its pink and in an ellipse. 1066 to 1060 for 6 points minus. Call it another 100 bucks on 50 contracts.
TE If I were to look at those bars in a 2d model .... a chart....is that what you are getting at? certain bars represent market movement and then give market direction until it doesnt or reverses. this has a lot to do with how i gauge the market now. not sure if i was clear or if that was what you were showing
we come out of the volume daily trough. PACE is increasing (see incrasing peaks. Make it a rule to live by. What else. VE's on increasing PACE and volume. More rules to live by. Dual rules. THIS IS WHERE A BEGINNER TRADER ACCELERATES THE CHANNEL ANNOTATION. SEE THE STEEPER LINES FORMING THE STEEPER CHANNELS. sTEEPER MEANS "ACCELERATION" for macho freaks this is called "putting the pedal to the medal. I have a 12 cylinder BMW with three elctronic tranmissions. this is like burning rubber as you go thru 100 mph. Higher money velocities. so we hit an ltl on DECREASING VOLUMME PEAK, WE GO THRU THE LTL AND VE. TWO MOVES ARE COMING UP: m1 AND m2. We reverse on the VE to go short to pick off the short m1. 1060 to 1075 for 15 points on 50 contracts. 15 times 50 times 50; this is about 400 plus bucks. we have a short then a long coming up. two sub FTT's or later BO's of the RTL. The m1 m2 rule is cool.
so you see the pink m1 with a little ve spice. you make 4 points from 1075 to 1071 and reverse long on the usual rule for this. being long thru point 1, 2 and 3 on the green channel is what is up. An ftt comes next. we will knock off another 4 point plus on our 50 contracts. As chizo pointed out all i do is the trendline analysis and I talk funny too. Anyone think TE gets this stuff? Does redneck get this stuff? another hour to go and a few trades to finish up. Debrief do the carry over and be ready for tomorrow. I know 50 contracts making 4 points is more than 100 bucks. these charts are simple and they work and 50 contracts made 100,000 dollars today. It is one of those usual days. 75 grand makes a 100 grand in five hours. very humorous thread......... Talk TE talk.... run dick run.....
Could you post what may be coming down the pipe the rest of the week. It seems to me that we are at a critical juncture in the short term, intermediate term, and long term trend.
jack could you post it in another thread. you're taking over this one and for those of us that dont want to read your stuff, it would be helpful if it didnt take this thread off topic.