Today was fun. Did a couple of reverses. I didnt make a whole lot but got a lot of practice. Most trades Ive done in awhile.
Thanks. Curious as to why you do the short channels (say 15 mins. duration) as opposed to the longer ones, which are the ones I presume you would actually trade.
In the spirit of "sweeping", you don't find that the time it takes to do those short term channels detracts from your comprehension of the big picture? My question derives from my own intellectual limitations, as I find that drawing channels at all distracts me from what is "really" happening.
Question for those of you adept at sequencing: bar1: yesterday's final long traverse is dead. bar2: RTL of the CO long channel bar3: starts off a new[long] r2l traverse of the CO bar4: the traverse continues on declining volume (danger will robinson, danger) bar 5&6: a final pop for the faithful, ftt. bar 7: BO the CO, establishing top of bar 6 as pt 1. tops of bar 6-7 create the traverse line[short]. The traverse line remains unbroken until bar 23. bar 8: the traverse is still intact, and volume is at extreme levels at both coarse and fine. macd continues to diverge, stocs are in the rocket zone. bottom of this bar might be pt 2. bar 9: the bottoms of 8 and 9 give us a possible roadmap to pt 3. bar 10: I have a b2b annotated incorrectly here, we are still in a short orientation on both coarse and medium. bar 11: outside bar, resume short on increasing volume bar 12: prv @ 30 secs: 28k, @1min: 29k, @1.30: 22k. Somewhere between the 1min and 1.5min observations, the latest short traverse on the ym is broken. At this point I was totally confused. If you held on to your short here, why? If not, where did you exit, and why? from a "coarse only" perspective: ftt/pt1 on bar 6/7, clone the traverse line to the bottom of bar 8, hold through the messiness while the indicators and volume are still 'go', and know that its over when bars 16 and 17 don't get there. Does that sound reasonable? regards, Laz