<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2205173> Yes. You have corrected most of those areas I viewed before. However, one which you may want to review: Down Black stops at 13:00. Up red begins at 13:00. I slide one in now and then, and I appreciate the sentiment, but I don't want to give the impression that anything mystical or magical is taking place here. Everyone should have the exact same ability to know what must come next. In other words, this isn't great, unbelievable or astonishing. It's mundane, average, run of the mill, everyday type stuff. You all have the ability to do the exact same thing. You just don't realize it yet. (All times Eastern and [close of] ES Bars.) - Spydertrader
Thanks for highlighting the 3 levels and clarifying the gaussians. I will study those more closely. As a spaniard once said... "Easy for you... Difficult for me senior" But seriously, we are getting there. Have a great evening Spyder.
I'm having a real hard time understanding how one is supposed to know how this traverse grew into a channel.Does the traverse slope play a part?I can't remember a time when you had talked about this. Any additional clarity on this would be much appreciated.
I started reading the first two equity journals a couple of years ago and then read about half of the futures journal. I never had a clear understanding about some things and I stopped. I started a couple of weeks ago reading CFBW, BMBW and the pdfs that Pr0crast did. Then I decided to start over with the first equity journal. I've also been reading this journal to keep up with the latest. Tonight I saw the above statement and it sounds like maybe you're teaching things a little differently now. Where would you suggest that I start? Thanks,
Very nice. If you annotated this in real time, you should be well on your way to achieving your goals. Start with the previous down traverse. Where is the right trend line? Now, locate the Point Two of the Traverse in question. Note its location with respect to the previous down traverse RTL. As such, one knows an accelerated traverse is about to form (in order to place a Point Two in the correct location). Since a channel has ended (and another is about to begin), and since we know an accelerated Traverse is about to form, we know what started as a traverse, is about to widen out and become a channel. Everything is exactly the same as it was only now with an emphasis on one trading fractal and only taking action at end of bar (close). The best place to start is to learn to annotate a chart thoroughly and correctly. Once you learn to thoroughly and correctly annotate a chart, applying the methods to futures or equities becomes a matter of personal preference. Review last year's Futures Journal (Procrast's documents should provide a nice primer) especially the main monthly posts (someone posted a link to all such posts early in this thread or at the end of last year's thread). No need to go beyond Trend Lines and Gaussians (with the possible addition of flaws and formations from last fall) until you can fully grasp the Monitoring Portion of the M-A-D-A process. HTH. - Spydertrader
Unfortunately work intervened most of the day, but hindsight seems to be getting closer to realtime annotations lately.. Thanks for your continued support
Spend some time reviewing your Gaussians. They are off just enough to possibly cause you a problem or two. - Spydertrader