Affirmative Spyder the forest view worked nicely and was clear. Exited on the RTL @ 1447.75 One happy Lama here <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1356296> IRL
Inspite of the detail I am on the Forest view...got the main channels well. Did not stay in for whole move down, but used the yellow exspansions as stop targets and re-entered from a point 3 each time.. FilterTip
Hey ST, I'm a little confused about a channel on this 2min YM. Starting from FTT @ 11:48 (red channel). It looks to be drawn w/o a pt 3. Can you explain why you drew the channel this way? I can see this working if we use the 12:00 bar as pt 2 and 12:18 bar as pt 3.
Just some questions, You mention on the charts taped FTT's But aren't the bars at 12:35 / 12:40 and 13:00 / 13:05 / 13:15 also taped TTT's? I suppose at 13:20 one would get out of the trade (right trend line is broken) that started at 11:50 (actually trade started at 12:45 because we're supposed to get in on a 1-2-3 after BO). Am I right about we would get out at 13:20? Then you would go short again right after that at 13:30 or 13:25 because of the taped FTT. Is that right? Also using forest view? This would have been a very hard trade because price went down really quickly after that and it could just as well have gone up to establish a point 2. regards, Ivo
I just slid down the red parallel line. The channel point two actually occurred well before where I have the current line. Point Two would be noon had I left the original line in place. - Spydertrader
The tapes in this chart are what we use to build our Point Three Channels. I have included the Taped FTT's to show where those 'tapes' ended. At the end of a down trend I note how after several attempts - we finally built a Point Three Uptrend. Note - on the Forest View, we only care about tapes which do form a Point Three. Sorry for the confusion. - Spydertrader