What beautiful day to enjoy and embrace the laterals. After 2.5 hours watching the paint dry the market finally woke up
Today's ES. I treated Bar 7 similarly to Bar 7 from 5/5/08, for similar reasons to those outlined in #6 of this post: http://www.elitetrader.com/vb/showthread.php?s=&postid=1911954#post1911954
1335 [1340 close of] was a pt3, but since this was pt3 in a non dominant traverse which I am not supposed to trade, I just watched for FTT's after that to go long.
This Excel spreadsheet was provided by someone quite a while ago. I apologize for not giving credit to the author, but I don't remember who it was. Unfortunately I haven't gotten it to work on Vista but it works fine on XP.
I recall a web site link (Nkhoi?) someone posted awhile back, and a few short discussions where people planned to build a small application for 'scraping' this information. I too would be interested in using any such application which automated the location of Earnings Dates. - Spydertrader
You annotated a Point Three Up Channel which began as a Traverse. Since this Traverse widened to the Point where it then mirrored the demensions of a channel, one would then expect traverses to, once again, form inside it. Tapes build traverses, and traverses build channels. Once your traverse grew to the size of a channel, you then need a traverse to 'carry' price back across to the other side. The only other option is a 'rocket' (basically a long tape which keeps going). Extremely rare is the case where we see rocket up followed by rocket down. So, since we know we need a traverse to carry Price back across this new (widened) channel, we must then have an up traverse before we can have a down traverse. Also, Non-dominant traverses form in two ways: Point Three's and Lateral Movement. - Spydertrader
from Clym; http://elitetrader.com/vb/showthread.php?s=&postid=1310943#post1310943 or give Don a call; http://www.elitetrader.com/vb/showthread.php?s=&threadid=124557&perpage=6&pagenumber=1