Trades 1-3 side by side (vertically) for easy comparison: <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1736920>
I see you are trying to ride both the dominant and the nondominant traverses, since you tried to reverse at PT2 prior to the PT3 formation. My style is significantly different from yours, but here is what my thoughts would be during this segment. At your initial entry short, I would be thinking "we are heading towards PT2 and may be getting very close." I would feel as if I had "missed the boat" on this PT1-PT2 trade, and resign to waiting for the PT3. I would then glue myself to the YM for incr red or a bar BO or something along those lines to give me an excuse to get short. I know you are taking an "always in" approach so you probably just sat down and picked a direction. If I were to be doing a similar approach, I would probably treat my first entry as if I were only doing entries and exits (i.e. try to get in at a good time rather than just get in) and then convert my mindset to that of always-in/reversing. I don't speak from experience though, since I am not reversing yet. In this case it just seems as if you sat down at an awkward time in the market and had to spin your wheels a bit before you could get some traction.
Here's my DSX chart for today. If we get increasing red volume on monday, it looks like we have a RTL BO. Comments and suggestions are welcome
Here's my GIGM chart for today. To me, it looks like a RTL BO has occurred, and price can be anticipated moving south. Comments and suggestions are welcome
Here's my last chart from today (JRJC). I see two possibilities here: 1: increasing black volume on monday making friday's EOD a pkt. 3 (FBO), anticipating a traverse back into the channel. 2: increasing red volume confirming the RTL BO two days ago. Comments and suggestions are welcome
Hi Munck, Nice going. You have an opportunity to draw a three point down channel on your chart to help you with MADA.