Razor, Yes. Well done !! I'm learning too...but if I can somehow help you, please don't be afraid to ask. You should prepare your chart Display in a way that you can see Price and Volume all together (it would be nice if you have some PRV indicator too)
Hey thanks Pepe, I will get the volume on there and look into the PRV indicator (have not reached there really on my reading yet, or I may have and it didn't sink in...LOL). Thanks again for the offer of help and good learning to you. Cheers
Razor: I would suggest you to start off by reading the first 4 pages of this thread. I know we are at 500+ some pages now, and it seems like a daunting task to go back to page one. But the first 4 pages contain the most important information. We do want to see you start off at the right footing, it will make catching up so much easier to do. Spyder has detailed instruction on how to set up the charts. Give it a quick read, so that we can be on the same page. Best regards Tums
Hi, DKM asked me how I enter on pt 3. I wait for second tape to be broken. See attached sniplet. Left is ES, right is YM. pt3 I marked on both charts happens at the same time. Note on YM. After pt 2 you look for pt3 up. I draw a grey steep tape. It's broken. I do nothing. Then draw another tape, I enter when that one is broken = pt3 which corresponds with pt3 marked on ES at the same time. Of course it's also possible to just draw a wider channel on YM and this is often something I do. It's just the "second" time I wanted to point out. Even on the same bar on YM after closing at 11:02 I will wait for price to reach the high for the second time (and not fall back). Right after that we get confirming str/sq value etc and we know we are ok. Another option is to draw the tape on YM using the highs of bars 10:48 and 10:50 on YM. Whatever, I will enter if it's broken the second time. Entering on "second" time is not something that only applies on YM (just in this example that's the case). We see often the same thing on ES. It can either be the second tape that is broken or it can be one tape that is broken for the second time. I just learned to wait just a little longer when I think :"this is the moment". Remember, first is a fade. Second is a go. regards, Ivo