Spydertrader's Jack Hershey Futures Trading Journal

Bundlemaker,

I also wanted to take the opportunity to thank you for your very well done movie explaining channels.

It cleared a lot of things out, including having the correct scaling !

Here is my chart from this am so far...

 

In my opinion the bar with the arrow does not tell you enough on its own even with volume picking up and a move counter to the trend. I think given the range of that bar and the previous 2 bars, I personally would wait for the next bar for some sort of comfirmation or what is happening.

Here is what I see. If you add the 20 SMA or EMA you will see that that bar closes at the moving average support. Also the bar previous to the arrow bar had nice volume and closed at the high for that bar. The bar with the arrow had a little less volume.

Also I drew a new upper channel line connecting the arrow bar and the 2 before it above and below and created a new channel. The arrow bar bounced off of the LTL or upper channel line and pulled back which I assume would be expected in the trading in the channel unless there was a breakout. The next bar dipped to the RTL or lower trend channel line and bounced off on strong volume as well as stayed above the 20 EMA.

Again, this is just my view but since you drew a channel on the bars that went from Point 2 to Point 3 on your chart, draw a channel on the bars that bounced off of Point 3 and you will see what I mean.

 

I had to grin and bear it. I was trying to get channels all over the place. Finally, I had to realize I wasn't looking at the forest. I took off all of my channels and established my pts 1,2,3. I have been a happy camper today since that point 3 as seen in the blue channel of the attached.

 

I see I for got to label the last FTT in the bue channel. I duly noted it in my log.

 

now, why couldn't I even came up with such brill question
from now on I will ask that question every time I see another channel.

noon report, down trend cont.

 

My chart so far....

 

Looks more like Mr. Green.....

 

I still have some trouble whit volume....

 

This one is better I think....start to comprehend Price /Volume...
little by little

 

home with flu watching a still learning

Question:
I deal with IB and use their charting feature of their software to draw my channels....however, i can't seem to find the ES or YM charts to come with volume...am I missing anything?

tks