Here is the ES Daily chart but with the channel changed to the longer term trend. I wanted to post this and even received feedback on this channel, but I am not sure if it is valid. The point 2 is in question for myself. Anyone would like to give feedback on this. Valid channel ? Point 1 = FTT,Point 2 = mid March, and Point 3 = mid April. Also thank you to all the warm well wishes in pm. Very kind thoughts.
Sure it's valid until the FBO near the end where price has poked below the RTL. Here it is technically invalidated but as a practical matter to fan again after price immediately re-entered the channel with such a small penetration is a matter for discussion with the purists. This is "fanning" the original pt1 (see Jack's and Cnms2's charts), instead of "recycling" the last logical pt3 for the new pt1 when widening is required, as Spyder prefers.
Thanks R/R, my circuits responsible for tape drawing rules must have shorted from all the excitement.
Thank you, Spydertrader. These drills help enormously by pointing in the right direction. Really appreciate all the help and time commitment on your part. I definitely had some major AHA! moments today. I think I would not be speaking for myself only if I said that I am looking forward to more (drills, that is) with great anticipation. Thank you again.
here is a way to recycle an unused pt 3 as a pt1 for the shorter term period. edit: new channel in light blue
Made a solid profit today in CMED off the BO of the pink RTL on the 30 min chart. Also anyone have an update FU?? Comments welcome.
ANW BCSI BEXP BIDZ BMTI CALM CAVM CFSG CHDX CRY CSR CXO CZZ DDS DLB FSYS FTEK GIGM GSOL LAZ LDK LULU LXU MALL MASI MEA MFLX NNI OME PERY PSEM RICK RVBD SCOR SDXC SNCR SOLF STAR STEC STV SWS SXE TESO TLEO UDRL ULTR VDSI WX ZOLT ZUMZ The above list meets Fundamental Criteria for ... Price Volume Positive EPS Float 5% Insider Owned 5% Institutional Owned - Spydertrader
Agreed. Big aha's today. I really appreciated the input and the questions, Spyder, as well as the patience. Thank you, and thanks to all the contributors.