Recent content by Talas

My 'raw' chart for the day.

Looks like TRA just completed a 1->2->3 up sequence, so I'd now be scanning for an FTT then look for a 1->2->3->FTT down. However, what occurs between now and the start of that sequence isn't yet known. We know that there will be an FTT in that channel at some time and that it will be...

Thanks for pointing that out, Padawan. I'll have to try to reconcile what I thought I understood with Spyder's post that you linked. - Talas

Sequences / phases: Volume increases from pt1 to pt2. Volume decreases from pt2 to pt3. Volume increases from pt3 to FTT. The FTT begins a new sequence. An FTT can only occur after a pt3. A pt3 can only form after pt2. A pt2 can only form after a pt1. RTL break on decreasing vol...

If vol trend is incr, price trend will continue. If vol trend is decr, price trend will change (p82 BMFBW) ---- After considering the 13:45 bar of 05/07 a little more, perhaps a more precise way of stating the reason for reversal might be that we had IBV within a pennant <i>but remained...

Curious. I noted the same thing as Ivob re: your chart. For me, the 'something amiss' would have been the increasing vol on decr range. The 13:45 bar had 1.5X the vol of the previous bar but 1 tick smaller range - therefore price was 'struggling against the tide'. Thanks for sharing your...

Nice morning. - Talas

Times shown are bar OPEN. +Bar9 (10:10) showed an IBGS and closed w/in the previous bar. Since we're w/in prev bar (i.e. lateral), we may look to the YM2M. - YM2M 10:14 shows incr red vol. ES5M shows change to decr red. YM2M shows change to incr red. Is this sufficient confirmation...

It looks like the drop was due to an 'exogenous' event. The company announced a secondary offering. I believe Spyder & Jack would say that the proper protection against an event such as this is dividing your capital into ~5 streams. - Talas

It's a flaw in a channel that you don't have drawn. A non-dominant movement on one level (tree) is also a dominant movement on a lower level (branch). - Talas

I'm not in that club, but this last up channel (14:55 - ) was 30+ pts and not done just yet! - Talas

Note that the ticker for BTJ has changed to BOLT which also should remove it from the DryUp list for Tues. - Talas

Working on making better notes for de-breif. Seeing some other's trades has helped....so thought I'd share. Trade was Long - FTT to retrace to BO. Entry Context: Red tape traverse dn to pt2 followed by retrace up. The pace on the retrace from pt2 to pt3 picked up leading to a Red Ch...

One problem when entering a new area is that people tend to use short hand phrases. The problem is just then learning what concept to which the phrases refer. Change and continuation are short hand for 'Change at some resolution' vs 'Continuation at that same resolution'. By removing the...

The phrase 'what must come next' seems to be imprecise. I think you've refined it correctly. Restating it, I believe the precise statement is 'what must come next if my current view of the market is correct and the market does not change before that point arrives'. If that doesn't come next...