Picture perfect point 3 down channel. Also notice the retrace channel FTT to help enter short even before the channel developed.
You certainly miss a significant number of channels. Very nice work. People could learn a lot from your annotations. A very nice example of a thoroughly annotated chart. - Spydertrader
Yes, I realize I don't have in every single channel. My goal is to make money trading the channels which are annotated at the big picture. The channels that I miss I do not see them as significant in real time, and am not able to trade them. But I do appreciate your input thank you.
But trust me, I know which ones will make money. I don't worry about not mastering the first step of 'M'. As I can tell which channels will be profitable ahead of time. I especially appreciate you starting this journal so I can advertise my product without paying Baron a sponsor fee. So really, thank you.
ES M8 Daily Chart June 9/2008 Daily ES bar formed a LL and a LH on decreased volatility and volume, following the point 3 down bar. Total range of today = 21 points % of range from previous bar = 40 % Volume today was 77% of Friday volume. Close of daily bar = 60% of the range today