Spyder, How is the 11:00 a Formation FBO, didn't the 10:55 bar break the top of the :50 bar and BO the formation boundaries already? I seek illumination for my misguided mind
Spyder's instruction is quite straight forward and easy to follow: http://www.elitetrader.com/vb/showthread.php?s=&postid=1309688&highlight=beginning#post1309688
Yup, it is , though I can imagine some discussions in this journal would get the idea stuck in somebody's head that it isn't. If someone's stuck and I think I have answers I'm always in the market to help that person out.
I wanted to post this video from yesterday. It is from 2:30 to 4PM. Es and prv realtime . Just wanted to shorten it down, and speed up time frame to 15 minutes. Finally had time to do that. Quality not great on this one , but good enough to see all the fun annotating yesterday's price and volume. Video link : http://www.screencast.com/t/sfHiZqAdND
A general question for anyone who might wish to answer. Which, if any of the following {choices}, would be correct: An ES/YM intraday swing low/swing high is {always, never, frequently or infrequently} a Point 1? TIA lj
When I first drew in the arrow at the close of the bar, I must have been connected to a different Qcharts server. As a result, when I drew in the arrow, Price sat right at the Apex (one tic lower than the current close) of the Pennant. As such (and at that time) Price, while breaking out previously, returned to within the boundaries of the Pennant by the close. Clearly, the close does not fall at that location now. Thank you for correctly pointing out the bar does not form a Formation FBO at time of my screen capture. Your mind works just fine there bud. Keep up the great work. - Spydertrader
Review 1600 5 minute bars (roughly 20 market days) and rank Volume from highest to lowest in descending fashion. Break this ranked Volume into deciles. The top decile (the top ten percent of Volume) represents Extreme. The Bottom Decile represents VDU. As a result, 8 deciles remain for High, Medium, Slow and DU. Each of these categories receives 2 deciles. If you have questions, let me know. - Spydertrader
Sorry Tums if you mistook my question as a request for a prediction. This would most easily be seen as a post-facto observation which I thought that given the number of times one sees a Point 1 during the course of a day let alone a week or a month, possibly someone might have noted the frequency with which a Point 1 is associated with an intraday swing low or swing high. It may be that no one has done this. So be it. I am also aware that I could do this myself but thought that given the clear utility of an observation like this, it might have already been done. lj
Sorry, whomever. Lest there be confusion, the end of paragraph two should be amended to say: ".. the frequency with which an intraday swing low or swing high is associated with a Point 1." since clearly the majority of Point 1's will not be intraday swing lows or swing highs. lj