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Today's ES chart. With and without annotations, since it is so busy.

Thanks for the replies Ivo, PointOne, nkhoi. I think you are misunderstanding me. I agree with what all of you have said, and understand the general concept. At least I believe I do. But this exercise was not about taking action on change, but rather about anticipating when change might...

I was monitoring ES 5min today with emphasis on when a CHANGE condition was manifest, meaning I should consult finer tools, which for me means YM 2min. After a few hours, I came to the conclusion that CHANGE is the rule, not the exception, contrary to my idea of monitoring for...

ES chart for today, mostly realtime. I was monitoring YM during conditions I interpreted as CHANGE, which seemed to be almost all the time. More on that later.

Spydertrader, Many thanks for the "lengthy post." Very informative and constructive! Is this a correct way of distinguishing between CONTINUATION and CHANGE conditions? If what you expect to happen next does not do so, the condition is CHANGE, and one monitors the finer tools. Otherwise...

Bearbelly, thanks for posting your hindsight analysis. I wish you would add your reasons for entering more specifically for trades numbered 3-7. It seems your exits are usually based on RT breaks, but not always the first break and sometimes intra candle and sometimes not. Without further...

Point One, Great commentary. I think there is much to learn from discussing specifics like this. Thanks for posting this. Here's a few things that I noticed that might be worthy of further discussion. 1. The 10:30 bar looks like a FTT similar to the one you traded at 10:05 in the...

Es chart for Friday. Some real time, some slightly delayed.

Ivo, please understand that I'm not disagreeing with you here. Notice that my chart also showed FTT and I also held through the area in question. I often see low vol reversals after FTTs, and was using this example to point this out, and hopefully to learn where it is that one expects increasing...

A VERY similar to the earlier example low volume reversal just showed up. Same question, which direction is hold until change? Earlier setup is in BLACK, this one in BLUE.

Very good point. I saw it the same way. But I have to admit that these weak price advancement bars on higher volume can be tricky. Had that bar closed 1 tick lower (lower than the 2 prev bar lows) I would have been thinking r2R. When these reversals don't work out and the next bar is really big...

Ivo, thanks for the comments. The dotted lines represent minor point 3 channels, and the solid lines represent the major channels I'm attempting to trade. I use the finer dotted line channels to support trading decisions of the major channels. I've made no attempt to draw tapes for some time...

Time to throw my hat back in the ring. :) Today's ES chart. Warning: there are more annotations than any sane person would want to read.

I've been quietly following the thread off and on this week, while preparing for a 1 month trip away from the US and the Internet. Haven't had time to post, but I did continue to draw channels, gaussians, and to annotate for 3 of the days. I'll be playing catch up big time when I return. But...

Sorry I misread your chart. It's not enough for me, but like I stated before, this part is pretty subjective, as far as I can tell. I would need more movement away from the LT, like a break of the high of the bar that extended it 3 bars before, before I would consider the new movement toward the...

Here's my spaghetti chart for the day.

As you stated in your question, what you have circled would be an FTT of the traverse from left to right TL. FTTs are failures of right to left only. As to whether or not that bar is failure enough (if it was right to left), I think it's a personal choice at this point in our development.

I've given this question some thought as well. I think the point of the FTT, which would be a reversal trade as opposed to trading with the trend, is to get on the right side of a NEW trend as soon as possible. At the point at which an FTT is identifiable, the dominant traverse has come into...

I only had one intermediate channel for the whole day. I was content with how price was behaving within it, so I didn't feel the need to force more down channels. The gaussian forest view was the opposite of the previous 2 days. Dominant RED all day until just before the close. I guess we've...

The gaussian forest view held black all day, until just before the close. I didn't draw in the brown flat lines in the volume today. Here's my chart for the day.