Spyder, Could we maybe get more indepth on the YM and its use as a leading indicator? The month is halfway through, and I dont know if we discussed it ad nauseum yet Does anyone agree or disagree?
Very NICE... You really get the hang of this... I think that in order to ease alot of nerves around here, we should probably get into a channel of channels discussion with the encapsulatING channel being the forest and the encapsulatED channel keeping folks busy. On your chart, you show the encapsulatING channel. The traverses and retraces are the encapsulatED channel. If all this is still causing issues for folks, I'll have to take a tangent elsewhere and do the one point a day type of setup dea that is a near replica of equities... Regards, MAK
This is my 5th day plotting channels as I was late to discover this thread. I've read most of the material and intend to read everything again this weekend. My biggest hurdle has been in recognizing the pt 3 in real time. I hope that I will get a better feel for identifying these points after practicing for a few more weeks. Great thread and I'm learning a lot! This method feels very comfortable. John
There are at a sub forest view. I had been attempting to post ahead of time but by the time I was ready to hit submit, the move had already happened. My carryover on the YM was extended into today. I didn't need to update the extension. The question naturally would have been how did I know at the EOD of day yesterday that the last bar was a point3 and not and EOD effect... I would throw the experience card on the table but that's not a fair answer... Regards, MAK
The Gaussian no make sense to me, today we have R2R from 10:40-10:44 on YM. YM in down channel. I see R2R also on ES around same time. After this, price goes up. Can anyone explain?
Hi All, I find FTT's easy to recognize providing the channels are drawn in the right way. For example this morning see the attachment. In the first picture I use bars 3,4,5 to draw the channel. In the second picture I use bars 2,3,6 to draw the channel. Using the first picture one would recognize the FTT. In the second picture not. So my questions are: 1. Should the channel be drawn as it is drawn in the first picture. Is that the correct way? 2. If yes, why? It seems so logical to include bars 6 and 7 and I do recall Spyder stating that he is always looking to widen the channel. Or should both channels be drawn? regards, Ivo
carry over channel also give you FTT. ps. incase you wonder why I picked a down carry over channel, well, it open way down so it seem logical to pick that one, imho.
Spyder in the past has indicated that something like in your chart 2 would be a "taped FTT". Using a carry over from the downturn at the end of yesterday makes this FTT much more visible.
The carry over channel works great, only thing I see, and I may very well be wrong, is that there is no pt. 3. If you were to adjust it to have a pt 3, it would be a little steeper but fits nicely into todays action. Expanding that channel works great though, FTT very visable to me.