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Updated Racing Schedule <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1477927>

I haven't used a time stop since Journal I, but if you feel it wise to use one, exit by EOD. Better to use the trendlines in my opinion as Price might continue higher after forming a 'steeper' Point Three Trend. Of course, your mileage may vary. Nice trading today everyone. - Spydertrader

Point well taken. :D Good trading to you sir. - Spydertrader

Really? :D - Spydertrader

Today's Qcharts STR / SQU Video - Spydertrader

Perhaps, you follow STR / SQU too closely. I recommended monitoring STR / SQU only when YM reaches extremes. Note how the word 'glance' seems to have significant emphasis in my linked post. :D - Spydertrader

05-23-2007 YM Chart - Spydertrader

05-23-2007 ES Chart - Spydertrader

My description above with respect to, "When did we know this was not an HVS?" used only the ES as a monitoring tool. While additional tools are available to each trader, not all individuals following this Journal currently use all available tools. Also, tools not yet discussed (DOM, T&S, Tic...

Final Universe Additions I added NCTY to my Final Universe this evening. Some of you may have already added it previously, but I thought I'd post the addition just in case someone missed it. - Spydertrader

When fanning out channels, Jack recycles his previous Point One. Because I look at a need to fan as a slowing down of market pace (and therefore, potentially providing an opportunity for the market to begin to roll over), I choose instead to recycle Point Three's into new Point One's. Doing so...

It is a Point Three, but its on a much 'finer' resolution level (limb), and as such, I didn't feel like trading it (after this morning's fun). I could have annotated it, but then, I'd have all those extra green arrows that give everyone heart attacks. :D Instead, I left it alone in an effort to...

The answer to your question depends entirely upon how one annotated their channels. In Spooz's example, he had no flaws. In my example (and yours), we can see flaws. I consider 'inside bars' to fall entirely within the previous bar, and not, equivalent tops and / or bottoms. Under my definition...

"It looked like the place to draw it." That's best answer I can give you with respect to why I chose that particular Point One. If you note the previous day's chart, I had that channel already in place at EOD Monday (The Channel color is red on Monday. I changed it to Orange before Tuesday...

Based on how you have annotated the chart (Point Three Up Channel / Bars 5 and 7), one would not have the same flaw pattern as I described previously. In fact, one could say, you have noflaw pattern. In other words, Bar 7 creates a Volatility Expansion and Bar 8 creates the left to right...

I cull the Entire Stock Market using the criteria described in this post. I then look for possible FTT's which would form a Point One. The results of that search created the above list. - Spydertrader

High of the 15:10 Bar yesterday. See attached. When you see the Signal for change, you take immediate action. Following this instruction is most important when one is beginning to learn these methods. It teaches you to quickly fix any errors made, and as a result, allow one to eventuALLY...

Walk with me as we review the price action at the time. If you can follow the decision-making process, you should see how (and when) you 'know' what the market says to you. See attached. The Price pattern begins with Bar 7, however, we cannot confuse Bar Seven with an HVS as it is a Breakout...

Internet Acronyms - Spydertrader

One of many possible Hotlists for tomorrow: ASCA CMED COGT EQY FACE HLYS IMCL TXRH ZZ - Spydertrader