I will have the daily chart posted on Friday. I have moved my trading setup to new location in my house and it will be setup tomorrow. ESM8 daily bar today made a HH and a HL on increased volatility and decreased volume from yesterday.
Chart for the morning. Started out with -4 points but ended the morning with +7. Current sitation, we had increasing red, FBO of shallower white channel so current mode is short. However, we are still in a big lateral (10:05) and I dont see us getting out of it anytime soon. Just an opinion though. No prediction regards, Ivo
This drill is very important. You get the see the relationship of the periodicities of the three levels of price movement. It explains the the basis of building channels up from adjacent bars (some times three bars) (The M of MADA) and the skill building down from coarse to fine. The coarse MADA. The MODE of the first A of MADA is always there and mostly Continue; when Change does appear you can see by looking at one level only how it connects Continue segments. You can also look at multilevels and see that there is a bulding up relationship from the more frequent to the less frequent. I think of it as a solidarity for beginners who are only trading the coarse. Finally, you get to see the profound relationship of the "internal" formations (a set) that occur in dominant traverses; paralleling this are the "internal" formations (another set) that occur in non dominant traverses. The after-the-fact aspect of debriefing on charts is poweful. Using the crayola test as a background of debriefing often shows a lot about WMCN in the log you made during real time MADA. Drills like doing a set of 20 crayolas go a long way towards ramping up the mind to put a lot of facets on automatic in doing MADA in ral time. The MODE and sentiment aspects of MADA, once automatic, ar the most helpful for smoothing out the mental and emotional aspects of trading. All of this drives you AWAY from the one element data set and to the multi element data set in sensing markets. Freak out comes from lack of discipline in assembling data sets. Freak out literal y disappears as you assemble data sets as part of doing MADA. Repeatedly reaching closure on MADA by doing al four steps under the Continue leading to "HOLD" is what gives the foundation of trading that, in turn, gives you the skill ability to step up and deal with the occasional Action that comes when Change come on the table to precipitate the timely action of reversing. The mental transition to hold and reverse form your historical orintation of entry-exit is a very significant AHA (more a giant AHA). As this happens from drills of all kinds, the emphasis becomes the end of holds going into change--- a time when you move mentally to exit-entry which is the opposite of entry-----hope----exit. exit- entry is rapid and entry-exit is slow and drawn out. As illustrated, the change of crayola color as a mental-physical effort does engender a mental decision making-action process that is very different than the "keeping the color" from one end of the line segment to the other. "Keeping the color" is a series of MADA's where the closure ACTION is to Continue to use that color. Think about the drill in two ways: one, as a doing one level from bar 1 to bar 81 and two, as doing three levels as each bar unfolds (the levels in parallel consideration). In trading and with regard to the various skill levels, a trader progresses to understanding the paralllel context after he has first worked on the single slowest period first. As you drill down into the finer levels, you become more parallel oroiented and see the larger and larger context of what you are doing.