When it reverses later, is it against another wall? I've been finding the disappearance of significant DOM walls very useful, at least for about a point of movement. When a wall stays in place at a RTL I go more by how forcefully price tests the wall than the presence of the wall itself as a signal of whether it is likely to hold. I had some good examples noted on yesterday's chart, but I just opened QuoteTracker and it has eaten all of my lines and notes, so I have nothing to post....
From a conversation with Spyder. I have captured a sequence of screen shots that show how 2 odd harmonics form an even harmonic (which means continuation). The basic sequence here would be going short when the DT (double top) forms and then reversing again when the DB (double bottom) forms to get back to continuation. <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1499387">
Can anyone help me with being able to determine why this was not an FTT? At the time it looked so obvious with the high volume and failure to traverse.
You should post the whole chart... let people see how you drawn your channels. Posting your daily charts will help yourself see your development in monitoring and analysis. (MADA) Good MA... which leads to profitable DA.
I actually have a CO channel that the 11:35/11:40 bars BO of on inc vol so I didnt see it as an FTT, plus I've been using Camtasia to record the DOM for the entire day and during the first 30-45 secs of the 11:45 bar, you can see large lots being lifted on the offer so buyers are still very aggressive.
Thanks, yes - actually I'm going to try to remember to backup the chlines.dat file at regular intervals. I've also been in touch with QT support earlier today, and may have a fix...will keep you all posted.
Your channel must be wrong. The bar that you say is an FTT, I have it touching the LTL and there's no space between the bar and TL.
No, there is definitely a space btw the LTL and the top of the 11:40 bar. pt 1 11:05, pt 2 11:20, pt 3 11:35. The 11:40 bar should not be touching the LTL. Thats how I had my channel drawn so thats why it doesnt touch the LTL. It doesnt really matter though, I got to where I needed to be. A VE followed by a flaw followed by an FTT based on my channel.
Palinuro, I don't know whether it reverses against another wall or not, as a rule. I'm inclined to say yes it does. But I haven't really noticed one way or the other. How do you decide what is a forceful test? By how long price stays at the wall? Maybe QT will be more friendly today and you'll have some examples to post. I look forward to them. Esteban