I am not sure that the statement "An FTT usually occurs on falling volume." is correct. If comparing guassian to gaussian, I agree, but not bar to bar. On a bar to bar basis, FTT's often occur on peaking volume. Also, a VE does NOT "guarantee an FTT." A bar creating a VE will, by definition, move the LTL and its high will touch the new LTL so it can never be an FTT. If a bar reaches the LTL on reducing volume then, yes, that is an alert for a possible reversal.
It is my guess that there are probably quite a few in he same boat, perhaps even some that have not recognised it yet. I know in the past I have sought answers from my tools where the issue was clearly with the craftsman (me). What's the old adage "a poor craftsman blames his tools". These really are fine tools and actually the 'beginner' tool set is pretty straightforward. I think you could make a fair go of it just with the main channels but when you add in the tapes and the price volume relationship you have something very powerful. I can completely understand Spyder wanting to keep the pace slow and focused on the basics at the start. It's easy to look for solutions in the wrong place (a finer resolution tool for example). I know the following comment is page 1 of the thread stuff' but I think it it bears repeating over and over "the normal course of action is to hold". This is what I plan to focus on this week. It just seems hard to drill this into the subconscious. It's much easier to try to fret about identifying a FTT earlier, or a 'better' way of distinguishing if a trip to the right hand channel line is going to break out or fail. You know what it doesn't matter as long as we take appropriate action. Cheers,
you picked an interesting example as the :50 is an OSB (slightly different rules) and volume decreased through the entire area. I don't know why Spy showed an increasing red Gaus right there. Anyway, I think this post is very relevant to your concerns and worth review: http://www.elitetrader.com/vb/showthread.php?s=&postid=1614733#post1614733
The FTT starts a retrace, so it should be on declining volume at that fractal until we hit the (original) RTL and either get a BO or an FBO. By shifting to the 2-minute YM to look for rising volume I think you are shifting to a lower fractal (the retrace/tree), and therefore seeing the appropriate rising volume for the first dominant traverse at that lower fractal.