Hi Spyder. I am trying to work out Points 1 and 3 on the 'right hand' (lower) blue trend line on your latest chart. Please let me know which bars provide these two tag points. On my current chart, I have a right hand trend line from the following tag points: Point 1: Nov 29, low of 13:30 ET bar Point 3: Nov 29, low of 14:25 ET bar However, I don't believe you are using these two tag points, and I am trying to figure out why not. Also, please let me know the Point 2 for your left hand (upper) trend line...and the reason we would not use the high of the Nov 29 11:10 ET bar for point 2. Thanks!!
You are in the groove and I second Spyder's comments. By making the personal effort you do and show us, you are able to build on the basics. The work gets you to the place where you have the knowledge and, most of all, the understanding. Spyder is strongly reinforcing the understanding that you bring forth in your post. The combo of working through the basics and then understanding is the deal. It is the alternative to seeking just the tattoo of a collection of more and more details and getting into a lock step sing song. Say if a person is running along as an EOD person, he sees what he sees and it works just fine. And as a person moves to full time trading he sees more of what is inside a daily bar because he has the means in real time to go to the 30, etc.... You see the opportunity to be more refined and that refinement has its rewards and they all stem from the same basics. This is an entry discussion and the same holds for deciding to get cash out of a position to have it for a new application that has shown up. You balance the two opportunities out. Streams of captial are at play and you work and then money works for you full tilt and all the time. Here a lot of people are continually working. A lot of building is going on and it is being reinforced. Many many people profited from your exchange here. It gives a lot of answers to a lot of people by the example of the interchange. Terrific.
Question. I was running a month end ranking scan on my final universe, and I am going to lose a number of my babies (stocks that no longer rank). Is the original Hershey Equites Rank Scan V.1.0.0 still the correct scan to use for scanning the entire universe? Or is there an updated Rank Scan that I should be using? Thanks for your time.
See this post posted a day ago posted by spooz_trader1. http://www.elitetrader.com/vb/showthread.php?s=&postid=1279313#post1279313
Thank you. I saw that post, but it refered to: "Hershey Equities Dry Up Volume Scan v. 2.0.0 (Three Month) Hershey Equities Chartscript Version 4.1" I am interested in a Rank Scan. The Chartscript Version 4.1 does not scan an entire list. And the other chartscript metioned was a dryup scan. So I am just checking to see if there are any more current Equities chartscripts that scan a list for rank. I am happy to put each stock manually through the Equities Chartscript Version 4.1 (it tells you if the stock has rank), but having a list scan is nice for the quick once a month check on what still has rank in my universe.
Oh I see. I have been using the Equities Chartscript Version 4.1 scan and manually checking the rank. I did not know that there was script that shows the stocks with rank in a list.
Point 2 (left [upper] trend line) - 11/29 10:10 AM (Volatility Expansion Line) Point 1 & Point 3 (right [lower] Trend Line) - 11/28 12:25 PM & 13:05 PM respectively (Volatility Expansion Line) I carried over both lines into the next days trends as price had continued to 'respect' these two trend lines. However, I anticipate the current Green Channel lines dominating at the open tomorrow. - Spydertrader
Thanks Spyder for this response. Looking at the chart, I am surprised that the Points 1 and 3 from Nov 28 that you describe actually remain valid for purposes of extending into Nov 30. It appears this particular trend line was violated pretty significantly on Nov 29...and again in the morning of Nov 30. What is the reasoning for extending this trend line into the afternoon of Nov 30? Thanks for any further insight.