I check the 'official' chart but it also show the same channel, is this point3 that you have question on? also check page 87 of channels for building wealth v2.2 http://elitetrader.com/vb/attachment.php?s=&postid=1362591
Will sort this out after market and over the weekend... No carry over on the ES. Here's my AM to NOW... <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1363699>
AM CarryOver on YM... I didn't adjust... <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1363704>
Spyder used pt. 1 at 3:40 (from yest), pt. 2 at 3:50 and pt 3 at 4:00. This is what I have and makes a nice carry over channel, w/ volitility expansion for this morning open. makes the FTT look nice too at 10:05. Can we use same bar for pt.1 and pt 2 for a channel? Maybe for a "tape" but I dont know about a real channel. Am I wrong?
Now that I check your chart and when I redraw I see I missed this first FTT. Price didn't make it to LTL by a few ticks. Drawing the right way really is the most important. Ivo
Let's say I screwed it up and it DID get to the LTL... What's your failsafe??? I am just like all of you guys. SOMEtimes, I completely miss the FTT. Does it bother me? ABSOLUTELY NOT!. If I don't play the FTT, then I play the RTL! Very straight forward. I see I screwed up by not putting in the forest view lateral that was on my YM... Then we could compare the obvious FTT of the lateral to the not so obvious of the AM. Again, it is possible to screwup an FTT; but you shouldn't screw up the RTL XO... Regards, MAK
Hi Mak, Thanks for the answer. I noticed my IB data screwed it up. Because of this I did not see the FTT. When I cleared the chart and backfilled it the fourth bar came much lower and I would clearly have spotted the FTT. A question. You talk about playing the RTL. But doesn't an FTT and RTL XO have more value than just a RTL XO without FTT before? I would think chances of a false breakout would be higher without the preceeding FTT. regards, Ivo
Throughout the day I kept saying to myself, "This feels like one huge lateral," or "which of these 302853 channels that I've drawn is price actually operating in?" The dominant kept switching and no CLEAR trend was talking to me. I looked to the gaussians for help as I always do, but this morning they were a bloody mess. The morning had about a 3 pt range, mid-day had about a 2 pt range, and things didn't really seem to have a clear direction until towards the end of the day. Stepping back from the chart I started to see things a little more clearly. I know that in lateral channels you can have a volatility expansion in either direction, so I thought to myself, if volume is drying up in the absence of a clear price direction , wouldn't it make sense to implement a lateral volatility contraction? I've attached my chart, with the changes I made EOD (in thick purple). This is just how it looked to me when I stepped back and tried to understand the forest and correlate volume with what the hell was going on.