The discussion is deepening and that gives us more and more strength as traders. We can now see that the P and V are working together in an incredible cooperation and corrolation. We see the charts are showing the channels and traverses AND we can see as we ride the bar that we have the best seat in the house. Trends (channels) progress. This is the relative part. Each bar is as expected in the table. AND IN COMPARISON WITH THE PRIOR BAR as the progression continues. The two facets are the "continuation" and the "change". The thread is dealing with the ES "FTT" theme. And now we are looking at the way in which the FTT is surrounded by events like 1, 2, and 3, and on the other side BO and FBO. The volume's nature comes into play since it is the "drive" of the prices plays. The relative nature of the bars is what hepls you "see" the transitions from "continuation" and into "change". This is where our effectiveness and efficiency emerges from "playing" more skillfully. Every bar you handle and log properly, builds your ability to handle the next bar. All under the volume level context. Look at it this way for a moment. Step onto the chart of volatility vs volume level. It is a matrix. Now get the fact that you are going to be in a given cell at a given time. You will see the the high numbers in the cell tell you how common or regularly you spend time there. If you printed 10 0f these charts and used one each for the am, midday and pm, you would have a very revealing experience. The way to use the chart is to make a road map on the chart of the bars. Lable each cell with the bar number and then draw a link to the next bar. Keep repeating. You will find that the action is zoned (by activity zones) as the parts of the day proceeds. "Seeing the market" is a goal here. You annotate P and V and corrolate the annotations. On MAK's chart you "see" how NOW is operating as it moves on the chart. Once you see that there is NO jumping all over the place, you get personally "calibrated" on yet another level of understanding. You can just peruse the chart looking across rows and up and down columns. You see the "beauty" of the market. It does not have anomolies. It has elegance and beauty and it is huge and available. When you see this chart you see how futile it is to search for anomolies to make money. We search for the context and the play that is being made and how to extract. We compare to the prior bar to get a vector, a vector that is in a context. We are "seeing" (the market gives us the data) going (our play) from one place to another and defining the "going", "arriving" and then "going" again. Depth of understanding is becoming available useful and strength (competance) building.
Early part of the day I felt I was reading pretty well, but thoroughly confused by volume from about 2pm on...
I have highlighted certain areas of the chart making it easier to compare Price and Volume at those specific times. Please note those areas well and understand the changes taking place. - Spydertrader
dkm, is there a reason why you don't have a channel going from your ftt around 10:15 (10:15,12:15 and 2:20ish are 1,2,3) downward? I have almost exactly the same chart with the addition of that channel which gives me another FTT at 2:30ish. Thanks, TNG