Note how I purposefully left out the 'fine' annotations early in the day. I could have left out the medium level annotations as well, but I think many have already started to transition back and forth between medium and coarse resolution. Be sure to compare the YM chart to the ES chart where you see an FTT. Hopefully, doing so will provide an 'Aha!' moment or two. - Spydertrader
My real time annotated chart. The decision to hold or fold around 1141 was not very clear to me. So around 1145 I folded and went flat. See chart comment for reasoning. The rising step ladder type day was very clear on the 2 minute Echart today.
Spyder, If you see an FTT forming on the ES but not on the YM. Will you trust it/trade it? So is a genuine FTT on the ES always preceeded by an FTT on the YM? regards, Ivo
And this is a 60 min ES chart to show where the blue and dark gray trendlines are coming from on the 5min ES. ignore the volume- I have it clipped at 40k for the 5 min chart and ignore the labels like FTT- they get moved a little when I scrunch my chats up. Important thing on this chart are the longer term trendlines. Interesting how we are bumping up against a confluence of longer term LTL's here. I'll leave this one in link form because the pic is a little bigger.
Since I'd prefer everyone arrive at these 'experience' type questions on their own (meaning with enough experience you'd already know without me telling you), I hope you'll understand if I delay answering this question. If by the end of the month you have not answered this question yourself, please feel free to repost it. - Spydertrader