FWIW cont... DAILY... I have yet to adjust the channel container of the current traverse. Volatility today increased the traverse channel. You can go back several posts in this thread and see what was adjusted since the first posting. My admittedly biased orientation is showing here however. It is showing that on the table is one of the following; Short Channel, Lateral Channel, FTP... Bloody app, I need more space to the right... Regards, MAK!
Additional context here. The above is with respect to the intial entry and reverse points. In the broader context of channels, the RTL is the ever present right side of the market. Each fractal zoom has a right side of the market. Because we are at the level of channels, the "R"TL is our "Right" side of the market and is a prime reason for why channels are anotated and extended ASAP... The extension is a projection of the right side of the market. At an intitial entry or reverse, a finer detail of the right side of the market is monitored... Just clarifications/refinements... Kind Regards, MAK!
Haven't received many replies to my two posted charts and another comment regarding pt 2, would like to get some more views or additional constructive comments. Thanks
On the last chart you posted your point 2 was correct. His channel was a volatility extension drawn in after the fact, apparently. The first chart you posted is too hard for me to read. Sorry.
Morning all, I live just north of Houston so will be focused more on Rita than the markets over the next few days... will catch up soon. txuk
The same for me osho. i´m not as old as easy, and still the chart i looked at from you was two small, couldn´t see a thing...
Thanks for the reply, if pt 2 is correct it means I am drawing a series of up/down narrow channels in the wide channel area marked on the chart, causing a lot of trades that are being closed out and reversed almost immediately, would experienced traders agree with this? What I should have done was to hold the trade, but this implies knowing that the channel was going to expand, is there a way of knowing this ? Don't worry about the first chart, the second YM chart attempt 2 is a refinement of this and probably comments about this chart would be better, in particular are my pt 1, pt 2 and pt 3 correct?
osho, I don´t focus so much on the "smaller" channels, look at the bigger picture, try to understand what´s going on. Draw the channels on the 15-min and 60-min fractal and see how price acts in those channels, than you draw the 5-min channel inside these channels. It´s much more relaxing to look at the big picture and trying to grasp that. It´s the best way to understand what´s happening, because the smaller the fractal, the more noise you get. Trading every channel within channels is for pros, nothing to start out with. Monitor volume closely to get a feeling for how far price will travel inside the channels. And don´t go against the trend within the channels if you´re not really sure that you´re right. /Stalker
Awhile back Icarus said that ES moved slowly. I am beginning to understand what he meant. The whole thing is in slow motion viewed from the correct perspective. If you stay focused only on the smaller timeframes you get hyper.