Ok, my first try at annotating a 5 min. I've been hesitant, for fear of having a brain aneuryism dealing with a 5 min timeframe, but seemed pretty boring TBH. Be gentle on me...
A truly valiant first effort! If I may offer a suggestion for the future... Try matching up your gaussians more with the price movement (dominant, non dominant, etc) rather than strictly the color/height of the volume bars. Good trading to you, Pr0crast
Hi Haroki - Take a look at the bars at 13:10 and 13:40. You have a pt 2 at 13:10, so this is going to also be the peak for your up channel gaussian. 13:40 is your pt 3, so this will be the matching trough for that gaussian. Take the top of the volume bar @ 13:10 and draw a line to the top of the volume bar @ 13:40 - this will give you the decreasing side (because it's negative [downwards] sloping) of your channel gaussian. This is how you want to match up your gaussians to your channels. Your channels look good - you will have the gaussians down very shortly! (I'm just giving a concrete example of what the Pr0meister is saying.) -Au
Spydertrader (Jun 5, 2007 2:30:08 PM) edited just because you reach a conclusion in one moment, doesn't mean you can't have a different conclusion in the next moment based on continuously updated (and new) information. === Two famous quotes come to mind: "When the facts change, I change my mind â what do you do, sir?" - J.M. Keynes "It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so." - Mark Twain This is the essential mindset required to develop the facility to act immediately when the conclusion from your analysis of the latest data changes. It's hard to develop this skill but well worth learning. The market gives you just enough time, normally.
Ok, reviewed my chart, other charts, I see what you're saying and you're right... Thx for the help, we'll seehow I do today.
Hey Guys, I just wanted to review some notes (it can never hurt) and I'm going to go through the notes on Hershey's "Channels for Building Wealth" and go over this thread on ET again. My question is, does anyone have a link or a specific section on Gaussians?
Is this right do far? I'm finding building channels very easy in real time, but the volume gaussians, not so easy. I'm typically readjusting the volume line several times as info comes available. Is this acceptable at the beginner level?
Spydertrader, would you mind explaining the situation from 12:20-12:35? I see a volitilty push the LTL at 12:20 and then we see a potential FTT on the next bar. But that next bar is black, not red so I though that we must have a flaw(?), but then price slams down harder on the next bar. If I had been short from the potential FTT bar, I think I would have been frightened by the black bar. Should I have been?