Overtime, your chart will start cleaning up (ie. minimizing lines drawn). What may not be clear for you yet is "what's next". Remember, the key for channels is identifying the cycles (ie. pts 1, 2, 3). Note to self, I have a pt1, next up is my pt 2... Note to self I have pt3!!! NOW HOLD AS PROFITS ARE ACCUMULATING! Next stop and FTT! IF I MISS THE FTT, IT"S OK BECAUSE I WILL THEN USE A RTL BO... Check, Check, Check... Hopefully, we can bang out a couple of really really tight days. It should be evident to everyone now that when you get monster days, it is too easy to bang out bucks just using channels alone... We are still seeing alot of very heavy volume on the 5M so for those areas it is like taking candy from a baby. As a side note, I've been working out how to do stats using options and what volume means for V, and IV...
I notice that even in retracements leading to a pt3 the volume can be quite high. Notice bars 14:45 and 15:20. However, these seem to be 'isolated' bars, not exactly what you would call increasing volume but more like an exhaustion. regards, Ivo
Pr0crast, I remember you posting instructions on how to do that, but now I can't find the page. Could you provide a link? Thanks, palinuro
Thanks Mak. I was indeed all over the place today and clearly see I am looking at the forest with binoculars. I will do as instructed and post the findings tomorrow!
Sorry, I don't have the link handy-- but I included it in the February compilation, which can be downloaded here: download
is there such a thing as Jack Hershey - Spytrader software ? maybe one of the TA magazines can review it ? or maybe it can be sold as an "plug-in" to some real time data vendor ... as trying to view that chart stumped me all in all though ... it looks nice ... good luck guys ps ... mr hershey ... you look good in a tux !
At the Forest, Tree, Limb and Leaf Resolution Levels, the bar to which you refer was indeed a flaw. On the Bug Level Resolution, we had a signal for change. Keep in mind 2.5 YM bars fit into One ES Bar. As such, one or two YM bar changes occur within a single ES bar. We Plan to discuss the use of the tools needed to monitor Bug Resolution Level (ES Intra-Bar) changes later in the year. - Spydertrader
Spyder, how do you know at the time that bars like 11:05 and 12:55 are not FTTs, while bars 11:15 and 13:05 are? And if one has made that mistake, how does one recognize the mistake and correct it before price comes back to or even beyond the decision point? thanks, palinuro