The noon FTT doesn't really give an example of a 'spike' bar. As such, I would not have expected a STR / SQU signal. However, The YM does provide a signal during that time frame. Keep in mind, we do not yet have all the tools available as of this point in time. As a result, a signal for change provided by a tool not yet discussed may have provided an indication of an FTT at that time (Such as a DOM Wall or Tic Chart Gaussian). In addition, other tools (ES Price or volume / YM price or volume) may also provide the signal for change. In this scenario, we do not need to even look at STR / SQU as we already had a sufficient data set providing a signal for change. I hope you find the above information useful. - Spydertrader
Here is what happened. At the time I thought the market can only do one thing next, given the context and sequence.
in defense of my 'continue up' diagnosis I tend to think in term of ES tree level. However the forest level may be more appropriate for this particular contract. btw, good job R/R.
thanks nkoi I was about to post this link that gives further examples of the "WTF" acronym so I'll do it here: http://www.albinoblacksheep.com/flash/end.php
I'd like to say a few words beyond simply agreeing with Spyder's comments, as it may well help others. Roughly 4-6 weeks ago I felt like I was really starting to get this whole deal. Scratch that, I was getting it. Several weeks of daily chart work after having put the bigger puzzle pieces together appeared to be paying off. Not in $$$ and cents but in confidence and knowing I can produce results. Then, I had a major personal interuption in the form of a move. I didn't look at a chart in at least 3 weeks. I started again this Monday. My work didn't look pretty and I wasn't feeling too confident. In the past, I would have sank into a semi-depressed state as I would mentally tell myself how this system or that just didn't work, how I couldn't do it, etc etc. This time, I handled it differently. I just did it, sans all the internal noise (me talking to myself). I recovered about 90% of where I was in just 3 days and am ready to progress further. What's my point? For anyone still on the fence and still wishing to do this, but feel they need proof or whatever, my sincere invitation is to just do it. External proof won't help. You need internal proof, satisfy yourself that YOU can do it. This is what most who fail lack. THere is only one way to get internal proof: do it.
I don't mean to drag this out, but I've just realised my previous comment was ambiguous: I "knew" it was a short. Is this a dangerous mindset? BTW, Moz's response was uncanny - good job!