I find that you will see walls get taken down all the time if you are watching the DOM when you shouldn't be. Are you doing your sweeps right (i.e. only look at the DOM when ES is at a TL, YM is at a TL, and STR/SQU is neutral)?
Anybody can make money in this market. It is how much you can extract from the pool that separates the pros from the boys.
Today's chart.. Avi, it's nice to see you're nailing this. Keep up the great work One very famous writer from my country once said: "Every path I chose in my life, I always find many stones in my way... One day, I will build a King's castle with each one of them" Of course, one can adapt "King's Castle" for whatever one wants (i.e: Islands are a good substitute) Best Regards to all,
Well, not just at trendlines. Also after declining volume bars more than midway to the LT where an FTT seems likely. Not very often really. I always look at YM and str/squ first, and won't look at Dom if one says reverse. But even on the TLs, what tends to happen is that the Dom signal was a correct indication, but before it pans out it will bounce off my wall like I hoped, but then the wall will break down on the next attempt a minute or so later. Ultimately price will reverse like expected in the same ballpark area, but one or more whipsaws later. I've noticed that whenever I look and if price is trending, I don't have to wait long for a wall to develop. It's basically the way the market moves in a trend. Uncovering and eating through heavy support in the direction of the trend while testing with a small resistance, then failing to absorb the contracts, bouncing, trying again. So if I look at DOM, I WILL get a signal almost every time within a minute or two, unless I'm looking too late and price has already retraced and is no longer trending. You're right that walls are getting taken down all the time when watching the DOM when I shouldn't be. Actually I think that describes almost all of the time in a trend. Obviously the key is knowing EXACTLY when to look. I've got a way to go on that score. Thanks for the reply. Tomorrow I'll try to be more selective. Esteban
S., In reviewing chat logs and evesdropping on them, I notice you (and others) sometimes comment: "D:" or make a comment that also ends: "D:" What does this mean or is some secret yet unrevealed aspect of JH language being communicated among the cognescenti Doug