Heres a cluster of laterals from todays NQ session. I sat out the cluster entirely and ended the day early. I did not know what to expect from the stochastic. Plus the area itself was over 130 points/over 500 ticks. Laterals are difficult enough for me, thanks. There is reason I call it a cluster! NQ 3 minute...
Hi tiddlywinks, I was surprised by the comment above from an avowed JHM practitioner! A bar that breaks out of a lateral but then closes back within the lateral on higher volume is a "reverse" and we anticipate the market to test the opposite lateral boundary. The 11:30 bar is almost a textbook example of this precept! The later lateral has two more examples. Thanks for your journal, it's always interesting to see how other JHM practitioners employ and enhance the methodology. -river
Hi river! Thanks for the comment. Yea, well I was kinda enthralled with the crypto thang that went on today. I know several people to which it actually mattered! I am not one of them. AFAIK, there are next to none "textbox" examples of anything JH! Personal scrapbook it goes!
I've been thinking about making some "calls" for the good souls here at ET. Of course, the standard of proof is something that must be mitigated before any such thing is implemented. Further, for lack of a better description, my bread and butter trading is futures, intraday, flat eod. That encompasses scalping, as well as intraday-segment swings lasting more than a couple of minutes to upwards of maybe an hour. I have no time for making these intraday calls. Its just an ego-centric distraction. Therefore I am talking about swing calls, from analysis of slower time frames: daily, weekly, and monthly To that end, I spent some time looking into blockchain timestamp services. OriginStamp seems to be best suited. Besides offering free(but limited) accounts, they offer 2 services... asset timestamping and event timestamping. The event service is the one that seems to fit. Three things of importance. First, the speed at which things are proved into a chain. Unlike some other blockchain timestamping services, OriginStamp uses several public blockchains and can be proved (partially) in about 10 minutes. Other (free) services that I looked at use ONLY BTC blockchain, where it takes at least a day to prove. Next, ease of use. A web-interface. Or code. Web is obviously simpler, although I can code. Lastly, an event timestamp allows custom attributes to be added. I know this post sounds like an advertisement. That is not my intent. I am merely displaying out loud, my thought process. So anyway, its something Im thinking about. Who knows. Why should I make any "calls" at all.
Refactoring/re-compiling my Sierrachart DLLs for 64-bit. I've been running a 32-bit SC version, a couple hundred (not kidding) versions behind. I also heard a rumor this week that the Beatles broke up. Weekends have a purpose.
The refactor/recompile to 64-bit completed without major issues. Hello 64-bit World! Moving on... I am reviewing some basics. In particular, point 1-2-3 containers as discussed in CFBW v2.2 document by Jack. CFBW is not heavily focused on volume. Here is a NQ 15 minute with 1-2-3 containers, AS I SEE THEM. I use this as my "long term" reference. LOL. This chart is 24hr, so using only visual volume tools dissuades me from including gaussians, EE's, etc. KIS... 1-2-3 containers. What I see is that as long as Jul 7 high (blue dashed line) is not breached, even by 1 tick, the current structure is a non-dom traverse. Which means in English, there is another (dom)down leg to come. Considerations 1) Nasdaq cash made fresh highs... futures did not. 2) Last weeks activity ended in the middle of the container. The left boundary extends above the July 7 high btw. approximately 69 points to the July 7 high, plus more to the container (solid black) left boundary. approximately 64 points to the container (solid black) right boandary. Again... a breach of any amount of the July 7 high negates my non-dom structure analysis. Again... I use the 15min as a long-term reference. It is NOT my trading/signal/trigger chart. Good trading to all.
Just a quick review... Yesterday 7/12/21 RTH opening bar took out the 7/7/21 high, and negated the non-dom structure... the possibility of a (bigger) container point 3 was eliminated. As you can see, new highs continued to be made overnight. Updating the chart requires more than visual at this point. A more forensic look at volume is required. ZERO HARM occurred to my trading. In the vernacular of Jack Hershey version 1.... The July 7 high is WWT... What Wasn't That. Good trades to all
Just read a post from @volpri NQ today was crazy. The first 3 hours saw 3-minute bars of near 150 ticks!! Mid-day saw 75 tick 3-minute bars. My day started off with an incorrect assessment of the volatility. I took on a few whipsaws as volpri described. Once I settled in for the day, it was just another day. This brings me to mentioning that volatility works both ways... I do not agree with the zeitgeist volpri speaks of... grab them profits and forget about letting winners run. Volatility works on both sides of trade, loss AND profit. Letting the volatility work for you on the profit side is as important as corralling the risk.
Good luck. I used Sierra for quite awhile. Then just simply, over time, got away from them. The fiasco with TT routing in Feb was enough to keep me from signing back up. But now I hear Sierra is working on their own direct routing to CME so I am getting things ready to go back to Sierra. I did like them. One just has to get used to reading through lots of support help posts for help. The guys are engineers and they write like em. Forget using phone calls for support on most issues and whatever you do don't upset them. Upset them and you likely won't hear nary a word from them. I remember Sierra being a good stable environment. Do you use their Denali data feed? Or TT. I think at the moment they are still using TT as an option for order routing but they are working on their own direct order routing.