Keep posting your charts fahad. FWIW my take on yesterday was pretty much what you have and like you, if I'm not mistaken, that post RTH dump had me scratching my head for a while about how best to account for it. Please note that I define RTH on the basis of equity floor trading hours which run from 9:30 AM EST till 4:00 PM EST. During these hours and these hours only the $INDU and ES/YM are in CONCOMITANT play. Spyder has released his firm and knowing grip on this thread a few posts back and that action is greatly appreciated by me. Let me make it very clear that I do not continue to post here and on several other Hershey/Spyder affiliated sites with the intent of fomenting revolution and directing people to a better path - my path. There is with no equivocation whatsoever NOTHING in the traders' venue which comes anywhere near to the lucid perfection of what these two people have discovered and presented for use by anyone who wishes to learn how to use the method. That said, I will also freely admit that my understanding of the method is not at the level of Jack or Spyder but by the Lord God I will keep working on my ignorance until it is. So here's my question du jour. Given that for all intents and purposes the method is focussed on the 9:30 AM till 4 PM time frame (because that's when $INDU and YM/ES are in play together), why does it make sense to include those last 3 bars (from 4:00 till 4:15 PM EST) of the YM/ES Globex day in the tape, traverse, and channel analysis? YM/ES are unfettered by the presence of $INDU, just as they are for all the time (see CME site for the exact hours of trading for the Globex contracts) prior to 9:30 AM EST. For the last 3 sessions (2/16, 2/17, and 2/18) this time period has produced Globex lows for both YM and ES which are much lower than the lows found during RTH. It may well be that Jack and/or Spyder have looked at this fact and have decided based on their observations and experience that even though there is the difference I noted above, it is better or more effective or whatever to include these 3 bars. Quite frankly I don't know, but if someone else has the correct answer I'm all ears. Again I'm not saying I want to change anything, I simply want to know why it is so. There is a place for empiricism and I have no problem if this is one of them. Pardon the blabfest but this has been bugging me for ages so I decided today to unload. lj
Hello Ljyoung. I do not choose the hours of the day. I choose ES1 from the Trade Navigator platform. ES1 automatically feeds me the electronic day hours of each day. Since the choice ES1 was placed in the TN tutorial on the software thread by Spyder; I assume that is what Spyder uses. 4:15 pm Eastern Time is actually 12:15 midnight my time. Part of each chart is done in real time, and the other part is done the next morning. I advance bar by bar and draw the tapes, traverses, channels, and gaussians when the full bar is in view.
Fahad. So far as I know ES1 is not a contractual offering of CME but rather a construction of TN. I am not saying that using the 9:30 till 4:15 timeframe is correct, incorrect or anything else. My question is as I framed it. You are quite right that this is what Spyder uses but, again, read my question. It is, IMO, quite all right to question. FWIW I think you are doing a conscientious and thorough job of attempting to annotate your charts correctly. It is a nontrivial task. lj
Hmmm. Is the P, M, and S (for all those PA boyz who refused to reverse early on this AM) over for a little while? Spyder knows and so should everyone else who annotated today correctly. The fun part of this stuff is sticking your neck out and having it whacked off - again. Fortunately like a salamander or a starfish, I have amazing regenerative powers, so here goes. I would say Yes (for a while anyways) except that the 15 min ES doesn't look quite right, yet, for me. How's that for a waffle? lj FWIW, I agree with Mr. Black that we've been traversing not channeling today.