Spydertrader's Jack Hershey Futures Trading Journal

Hi Mak,

Thanks for the answer.

What exactly is XO? and "clearing" of RTL?

I suppose XO = RTL being crossed and clearing is Breakout?

What do you recommend for a beginner?

I noticed that almost always after an FTT and decr. non dominant volume price will at least try to break RTL. There are not many FBO's without price even trying to break RTL.

It's the flaws that do not even try to break RTL because price never gets there.

So considering this I think it would be wise to just exit at RTL being a beginner. Then wait what happens and possibly re-enter at VDU after BO.

regards,
Ivo

 

I think it means cross-over.

 

Unfortunately this didnt work today. Highest down volume 9:50, price went all the way back up to new highs without ever going back down to peak volume prices.

 

this morning has been very strange. I too thought red was dominant, oh how that was wrong. Was this a LTL bounce that changed sentiment? Or does the CO channel negate the highest volume ?

 

FOMC announcement today at 2:15 EST, so expect somewhat sideways action until then.

 

Yeah, very strange.

Again same flaw story....

9:55 looks 100% like a flaw.

BTW of course I had the steeper channel there. Was just waiting for pt3 down which came at 10:10 but failed and turned into a reversal.



regards,
Ivo

 

For me, I never had a down channel off of the 9:35 bar since I could never get 3 seperate points. So during the retrace I was looking for pt 3 to sell in order to get that 3rd point. But watching the DOM, along with everything else, I couldnt get a good read on where to do it. The only time I did was intrabar 10:10 as PRV was waning, but even then I didnt sell because the overall vibe just didnt feel right. Once we touched the highs at 10:25, I knew our previous gaussian was dead, and I anticipated that, because of the way prices acted, we would get a flip in the gaussians and sure enough 10:55 provided that flip. I did get long around 10:45 anticipating we'd go higher.

 

Here is my chart for the morning. I was expecting a the dominant down to continue.

This is exactly the reason why I mentioned that I have found that some of these generalizations are best ignored as they seem to cause me to let my guard down.

EDIT: Ignore the pennant I had drawn at the 10:30 bar. I had drawn it while the bar was forming and forgot to erase it when the 10:35 bar ceased to be a inside bar.

 

It seems to be one of those things where the gaussian says that we should retest the lows, but when we dont, the underlying market is saying that its very strong, today was case in point I think.

 

here is my effort for the morning, off to work.