Spydertrader's Jack Hershey Futures Trading Journal

The area highlighted by the yellow vertical lines gave me trouble. If in a downtrend I would have exited with break of light grey RTL, but the subsequent Price and Volume action would have batted me around (if I wasn't smart enough to know my limitations ). I realize that on the 10:30 bar the first exit of the RTL wasn't on increased Volume, However the 10:40 bar that brought it back into the channel was, followed by somewhat increasing Volume again to exit the RTL. The re-entering of the down channel, then exit, then almost re-enter is very troubling to navigate. Confused? Me too.

Did anyone deal with this time successfully? If so, do share.

 

Gman,

See if the 1030 bar annotated as a pt 3 and the corresponding new RTL adds any clarity.

-Mike

 

If the bar is the end of an up tape, I think about its top in terms of LTL bounce or FTT, and PT1 of a new down tape. Arguably, you could call it a "temporary resistance", but we operate with LTL and RTL as dynamic resistance and support.

 

I drew my channels and gaussians a little differently, but that area was a retrace followed by an FTT, and it was quite congested ...

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1637226>

 

es

 

Here is my morning

 

Nice chart Gooch, very easy to read.

 

YM 5 minute chart.

 

Man, I was expecting a down day to come along soon, but nothing like this !!

 

text book Gaussian volume, sweet.