Your post is very nice..and it is refreshing. For the humor of it I spent four days in Vegas at Traders Expo. No one there who presenting in meetings, showed a chart with white space to the right in any presentation (23 that I sat through). There was live trading here and there on Friday, but no capability in any of those meetings either. I asked. As you and other traders do what you describe, there is something happening that is quite wonderful. Per second, you consciously see something (10,000 spatial units of area); simultaneously and unconsciously, you "see" too. there the spactial units are a bout 20,000,000 per second. Take a 3 by 5 card and press a ballpoint to it. The mark is the conscious part and the rest is the unconscious part. You are doing drills now that you could not do before. Time after time you are looking at the future move into the present. You will find almost all of the time your total conscious and unconscious mind is "getting comfortable" with how the market works. I am usually unable to communicate well to others. when I say I trade on "sports memory", like armstrong riding a bike, what I am suggesting is that the unconscious part of my mind has been at work for about 50 years taking snapshots. after a while things get organized and it is a "deja vu" situation, even subconsciously. I am organizing a lot of drills to give to thers so they can fast track the experience of bringing their subconscious to life for makng money more effectively. I met four people in Vegas who have the same effect that I do going on. We all know this phenomena and speak about it. One of them has an autistic characteristic that showed up in terms of speak. I have seen it under trading and trading discussion circumstances. While continuing to properly enunceate, his rate of delivery goes up to an auditory pace that even his lead programmer cannot follow. He is describing the market's going on's at the time they occur in real time. In other words you are beginning an experience where you will be "seeing" the future come into the present in terms that become impossible to audibly convey (bandwidthwise). He "tells all". My characteristic is to in ranked importance, to speak only parcels that are sitting somewhat ahead of the present. It allows others to go there snesorily in time to see the parcel blossom. You are in for several wonderful things, soon. Among them you will "see" P, V working all the time. Best pair is ES price and YM volume; that is because you make money on ES and YM volume is telegraphing the flow of money into your account. The sweeps is posted and it is complex but by doing little drills over and over on parts of it it becomes clear. As a brief and limited interjection here; I'll post three attachments that have not gone up on any web before. What they do is establish the envelopes of money that is what we extract. Pool extraction is THE topic of making money. The pool comes to you all the time. Your subconscious "wants" to sense it. Opening the windows is how it happens to gain this opportunity. Spyder has, thousands and thousands of time, briefly stated to one person or other, what that person needed to open the next window. Drilling there, fills the subconscious which in turn supplies the consciousness. It is such an enriching thing to allow yourself to partake (sorry a little artsy). I'll grab those files and attach them for your convenience.
The order of entering got fouled up. I forget that I had to change message each time or ET just overwrites former post or throws it out. The order is: attachment 1, attachment 2 and attachment as see on message text words. Sorry. All of this is part of the min- max video which is not currently available. My agreement with ET is that I cannot disparage others, use words of a given set, nor may I refer to resourses anywhere. I am trying to stay within tolerences and still be helpful. My debriefing grading of presenters at the Expo as seen on the hook up thread is all positive, in my opinion. Grades are grades as earned. I stopped entering the raffles after I nailed the first one. A 3:1 income:cost ratio was good enough for four days in Vegas. I did not count the perks as income...ewe....
Here is my chart for NVEC as of today. I have marked a FTT today on its current down channel (teal color). Which could potentially create a new channel marked in orange trend lines. My question to Spyder and others is this. Is is OK to recognize todays price movement as a FTT on the teal channel, it could just be a pause today that resumes its downwards movement tomorrow.
OK, I looked at my NVEC chart again, and noticed that I hadn't drawn in my taping channel (pink) shown in the new image. Even though the price is staying within the pink channels, can we still mark an FTT on the teal channel? TIA, I am still learning the neuances drawing channels.
As a suggestion, I would put volume on your charts. You are able to better identify what is going on, whether its a retrace, hitch, dip, stall, FTT, etc. From the 10th to the 15th, we had a dominant channel traverse, which ended at a volatility expansion line. I'm seeing these red bars as being a retracement (left to right traverse) with either a break-out or a continuation (a right to left traverse) coming up within the next few days. Perhaps even as early as tomorrow. The four black bars have increasing volume, and the three red bars following have decreasing volume. This is the standard sequence for a right to left traverse (dominant) followed by a left to right (retracement.) I see some other possibilities, but this is what I'm leaning towards at the moment.
I had to edit the chart I posted because the points 1 2 and 3 needed adjusting. Here is the new one. gooch87 <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1271609"></img>