You guys havent heard of the Dow20? Its a secret, little known index that backtesters use to get ahead of those using the Dow30.
This morning was a great example of what we are talking about. YM took out yestedays high and was trying to break out. ES stalled at yesterdays high then reversed. YM followed. What other pairing is going to give you that kind of heads up Hypo? If you took the ym breakout without waiting for ES shame on you.
Yeah, I like es-ym more and more since I´ve stopped trying to make it so complicated and just watch the relationship. The same with prv, it´s starting to make sense to me, but I can only do it actively for an hour or something, then I´m exhausted, cause to get something out of it I have to watch the bar jump upp and down, prv, gaussians and es-ym at the same time. At least that´s how I feel, that you need the whole context to understand it.
This will go down as a flat day on the news tonight. Most people have no idea what we daytraders go through. Around 40 pts net movement on ES. I watch the Naz but its not as much of a factor as it used to be. I hope it becomes one again.
Edge trading and Jacks methodology are not opposed. A pullback is almost always a pt 3 or rt line bounce. A double top or bottom is almost always an ftt. Channels complement anything you want to do. I am calling what I do now "Intersections". When you put it all together and look for where all these things intersect you will usually find a nice entry.