WGTrader, I believe this is it!! If you have arrived at a point where you are able to take consistent profits out of the market day in day out, this demonstrates the hard work put in over the last few years is paying dividends, in time you will start seeing the big picture. I am pleased with myself that I have got so far. I got a ticking off from IB few weeks ago for taking money out of my account every day! I am happy, staying humble, enjoying the fruits of hard work. I am also ever so grateful to all those who played part in making the trader I am today ( albeit 1 contract)! Thanks Spyder
This was my final chart for Friday. I had noted the tape breaks with arrows. I did not trade all of them, but enough to end the day positive. I did make some errors in the afternoon...
Actually, I think I'm somewhere behind you, also trading live, but not as consistent as you are (but getting there), but not having any losses I've had many aha moments, many times thiking "this is the one" but alas, not yet it seems. I also think many people are somewhere where you are, so you're not alone. -- innersky
Incorrect. Again, my 'incorrect' response to you does not imply, infer, or otherwise provide an opinion (for or against), the specific points of your post. In other words, I have not addressed whether (or not) your post contains accurate (or inaccurate) information. Your post simply failed to address the 'correct' answer to my question. - Spydertrader
Spydetrader, could you confirm a few items with respect to annotations in the attached: 1. Seems like the first pink down traverse and the second down orange traverse are faster fractal traverses. 2. If the above is correct then red Point Three down is not a channel but a 5 min ES level traverse.
Also, in the attached, the last blue up traverse of the day does seem like a faster fractal traverse as well (I don't see return to dominance after p3 - all increasing black volume comes from lateral/pennant BO)
1st half http://www.elitetrader.com/vb/attachment.php?s=&postid=2103559 2nd half http://www.elitetrader.com/vb/attachment.php?s=&postid=2104145 The second blue up traverse in the green channel (traverse begins between 1200 and 1230). The price exits the pennant marked with blue p2 on increasing volume, but the following bar fails to show more increasing volume. It would mean that the blue up traverse in question is faster fractal, and the green up channel is not a channel.