I would just make a comment about seeing +PRV after an FTT. After an FTT, we start the non-dominant traverse which should be on decreasing volume, so we should expecting volume about the same as the last bar of the dominant traverse or less, not significantly higher volume. The increasing volume after a FTT comes 1) after a BO of the RTL with the begining of the new dominant channel. 2) we have a FBO and the prev. dominant channel resumes. So I am not sure what you mean by seeing +PRV. If we are that the RTL, then I am expecting +PRV after the str/sq.
I have a question about drawing channels on the YM. I've been drawing ES and YM channels the way they're suppose to be. I'm finding myself drawing the YM channels more in-depth like the ES. Is that bad? Do you not do it because you feel it's irrelevant while taking up too much time? I don't know, i guess from drawing so many channels. I can do them rather quickly and finding myself drawing the YM channels like the ES. I just wanted to know if it's a bad thing that I'm doing that?
Beginner question: Should I consider redrawing the marked downtrend line after what looks to me to be a FBO and use that FBO point as a new/adjusted point three? (And also make similar adjustments to the right channel lines for that channel.) Thank you, - David I [edit: Please ignore the two green lines in my attachment. They clearly were a mistake and shouldn't be there at all.]
Yea I compare it to his and it's usually 95% accurate. I usually get more indepth and add smaller channels within channels that he doesn't put. That's what I'm asking about. Is that ok to do or just stick to a broad outlook.
chart for the morning. I was clueless in the beginning. We got this big black 10:10 bar and I thought we were going up. Did catch the ride from 1507 to 1511 though. regards, Ivo
you have to ask yourself: is this tool/signal/indicator/line assisting me to make a trading decision ?