Thanks for the reply. Probably a reasonable approach. Seems MAK's automated trading spreadsheet would really help out wouldnt it ?
Thats two 3+pt moves against the shorts. If you held through both of those you got more nerve than me.
Thank you so much for posting. everyone needs to have these channels annoted on their charts. Mak add them so you can see the trading channel thet you most recently posted hitting the channel trading bug has on his daily chart. On this daily chart you see the following items: 1. channels overlap. There will be a segment on this soon. 2. The movement within channels is correltaed with volume. There will be a segment on this soon. 3. The channels are projected past their endings. There will be a segment on this soon. 4. The channels could have been continually extended and then they would give you information about how price is going to behave as price hits the projection. There will be a segment on this soon. 5. Channels do not end at the end of days necessarily. 6. NOW price on the daily channel and the 5 minute channel is at the left side of each channel. If you were doing pro rata volume you would see that the first volume black bar is not cutting it to allow volume to increase. This can also be a B2B on the YM. This is a double zoom in. Daily >>> 5 min >>>>...2 min.
NP (No Problem). I have 3 chart services. None of them can seam to get over the rollover aspect which screws my ability to channel over larger time frames. I am diligently researching other alternatives to attain this very critical aspect which I had been aware of. Thru bars 26... Lunch time activity is on the table...
Mak thanks for all charts today also. Not sure if you have esignal amongst your suite of tools - I have esignal with ensign. I use ES#F. Same with YM#F etc. - these give me continuous data regardless of contract month/year symbol Irl
put your three rays on the volume for every chart you are monitoring. By using a triad (high, medium and low) your mind gets calibrated. This means that as you monitor and look from place to place you can see, soak in calibrated data, plant it in your mind at a collection center. You then do that same at many other places. Then you tap into the collection center and analyze that data. Analyzing is a comparison against known truths. If your known truths are few and meagre, then you cannot effectively analyze. Today and NOW we see that price is hitting the left sides of two different fractal channels. You know well from past successful experiences what this means. This is a decisive time for anchoring your trading viewpoint. Lets look at this post. I am contributing to the awareness of everyone by conducting a brief pragmatic process. I also am refraining from running my comments deeply and by the numbers and ahead of the market. what I am achieving here in clear and steady flow of words is a process. A process of allowing people to engage in looking at things, annotating their charts on a catch up basis and slipping into the flow of the moment. There is someting for everyone on whatever level they are on. I am not saying anydownside stuff right now. I could were I to rehash the last ten pages. I am just slotting all that stuff into the buckets and doing over alls, bold inserts and summaries for later pondering. NOW you get to see that projecting channels on all pertinent fractals, invincibly, gives you an excellent unmatched personal real time context for trading. You can read the words of people who are in the groove, those that are catching up, those that are working valiantly, and a lot of B people have arrived with at least ten distracting viewpoints that show they are just lurkers who are giving this thread a high reading (pondering) priority.
There is alot of OT aspects to what you are saying. I am pairing concurrently with others as opposed to bringing up any selfish aspects. What you are suggesting, I do in fact do but on a different type of chart (price intervals) and right through the overnight activity since the picture is pristine. This is the infrequent trading that executes via 1 of the two POS spreadsheets that runs continuously. SH!T, I just got what you mean. Thank you aegean. Regards, MAK