here's what i came up with chart/channel aweiss your larger pink lines are sloping down, i dont' think they should be
Thanks for the comments Dan - the big purple line comes from the short term trend on the 60 minute chart. I have it as a break out from the long channel which started in the middle of the 13th. (posted here: http://www.elitetrader.com/vb/attachment.php?s=&postid=871102) I'm sorry, but I can't read your chart very well It looks like it's based roughly on a 4 hour scaling, and you are using it to show intermediate to long term trend? On my daily chart we are in an uptrend and it looks like we just formed a point three - or we will do it today; which is -I think- what you are referring to. The short term downsloping trend I drew is very shallow, and it certainly won't take much to break out of - especially since we'll be forming/bouncing the first point 3 of the IT trendline. If you zoomed in to about a 60 min scaling, what would you draw instead? Thanks again Anthony
Thanks tx - I can definately "see" the channel formation, but I'm having a horrid time actually putting pts 1, 2, and 3 on it. There is so much "junk" going on in the middle, it's muddled. OK, so I can form that channel *after* the fact, but how in the world would I identify it in real time? Thanks again, Anthony
If you look at this picture you of ym you see that 10400 is the pricelevel that ym has been "circling" around for almost a month. It was up and touch it at 10399 tonight. Since we are not allowed to predict I wouldn´t dream of trying to interpret what this means...
Through bar 6. Note, pts 1 and 2 obtained - waiting on 3. The baby blue line is a place holder waiting on 3.
Heh, today feels much better than yesterday. Maybe I had too many lines on yesterday's screen... Through 9, I think we have formed the first leg of the day - looks like a "w" day. Anthony