While I am not completely sure what signal does the Outside Bar 13:45 [close of] represent, the next one, IBGS on increasing black volume 13:50 [close of] changes the mode to short.
So, concerning the first, when using ES only, when a bar breaks out of a (non-dominant) lateral on increasing volume one has to hold until end of bar in order to see if it is a real or a false breakout? And I suppose the finer tools might help here to stay on the right side before the end of that bar? thanks -- innersky
Even though we had rtl bo + ibv at 13:45, I can see that the sequence did not complete until 13:55. At that point, we are inside lat movement. What is the trav level signal for change to get short at or around 14:15?
First attempt at realtime logging today. Is this the sort of thing people are using?... <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2103343>
Correct. Keep in mind, it isn't just 'ES only' which requires the 'waiting period' here. Until a trader has developed the necessary skills and experience, the trader makes decisions at end of bar in order to avoid taking an innappropriately timed Action. The finer tools help the trader to trade within the Lateral, and as such, place the trader on the right side of the market, prior to any breakout by Price. - Spydertrader
1. 13:15 isn't providing a signal to head long (sequences not completed) 2. Therefore, no need to head short later in the day. However, if a trader, as you did, incorrectly headed long at 13:15, then what tells you that you sit on the wrong side of the market? Those very same sequences which you believed had ended at 13:15, had to start over again, right? Well, at some point in time, the trader can 'see' that the market has provided a down Traverse[/b] followed by a Lateral Traverse. What must come next? and what did the market provide? Congrats, you just experienced that which had previously eluded your grasp - an error which provided extra profit. - Spydertrader