VISN broke out of the Lateral Movement as anticipated on increasing black volume giving a continuation signal. Yesterday's VISN Chart Bought VLCM as it created a FTT on the purple down traverse.
Thank you. By this I take you to mean INTRABAR sequences and this is very helpful. And yes, you are correct that I'm not quite ready to take an 'inside the outside bar' ride but that can wait. Regards, lj
'hoo-ah!' 'Yippee-Ka-Yay!' Definitely saw those two! Enormous thanks for the advice to do reps of 20 charts!
Without a doubt. However, just to be clear. All charts posted today used Monitoring exclsuively of the 5 minute ES. I peformed all Analysis using nothing more than the 5 minute ES. All Decisions resulted from the 5 minute ES, and all Actions taken derived their impetus from the 5 minute ES. There is a reason I have often said Any Market on Any Time Frame. After all, Equities don't have the YM to lead them - now do they. - Spydertrader
Huge thanks for everything today Spyder. I think the tree level suits the kind of trading I am aspiring to and I believe the decision points on this level will be my focus until further notice. I have one clarification issue so that I may focus on 'D' at the tree level. Are non-dominant retraces of 'traverses' to be traded or held through at the tree level? For instance, it seems to me that the Bar 8 reversal long is trading the non-dom of a traverse, (which turned out to be a good idea as a BO occurred). However, 11:10-11:50 also seems to be a similar non-dom retrace of a traverse that was not taken (which also turned out to be a good idea as a BO did not occur) Thanks again for your tireless efforts
In order to insure that we use the same vocabulary for both the question and the answer, allow me to make sure we currently find ourselves on the same page. Beginning with the close of today's 10:25 AM ES Bar through the close of the 10:40 AM ES Bar, the market finds itself in a non-dominant retrace of a forming Point Three. As such, a 'Tree' Resolution (Traverse) Level trader holds through this area. In addition, the market provided a signal for change prior to this forming Point Three (the 10:10 AM ES Bar) which told the trader to take action. Whereas, the same trader at 11:10 received a signal from the market indicating the time had not yet arrived to take action. As a result, the decision to take action, or not, results from the signals provided by the market at the specific point in time indicated by the trader's resolution level. In other words, we do not jump trading fractals. Let me know if the above provides the answers required. - Spydertrader