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I think different software vendors have "1 tick range charts" coded differently and I want to clarify which type Spyder has in mind. Do we want a new bar started on the next tick after a pair (and the previous bar) is created, even though that tick is within the first pair? In other words if...

Don't know what date that one is but I have one from 4/25/07. PM me and I'll try to get it to you. It's 173 MB.

now checkout the 11:40 ES bar on 7/10 for an example of an FTT on bar exiting a Dip http://www.elitetrader.com/vb/attachment.php?s=&postid=1526826

Spy, I know you're traveling but FWIW the ES volume looks low overall, and the early AM looks way off.

Guava: on your chart you said the 15:40 bar, which exited the Dip, "can't be an FTT if it is part of the Dip formation". For clarification (yours and mine :) ), I don't think the bar exiting a Dip is precluded from becoming an FTT by definition, if this is what you were implying in the above...

Spy, thanks - this really clicked for me also.

Spyder has since answered your questions and I think your annotations and conclusion about using the LTL bounce as pt1 and the FTT as pt3 are correct, but keep in mind the resolution you are working in. You have also asked about the RTL break and price re-entering the channel. In your search...

Here it is in .pdf format

Here is an update of my index of links to Spyder's ES charts. The page numbers may not all be accurate due to post deletions, etc.

hi, I'm going to paraphrase from pg 99 of Jack Hershey's "Channels for building Wealth, v2.2": When you have a pt1 and pt2 in place, pt3 should resume (meaning start the R to L traverse of new channel) BEFORE reaching the same value as pt1. If pt3 is above pt1 for an expected short trend...

If you look at how price travelled intra bar from the close of 13:00 through 13:05, 13:10... to the low of 13:20 you can see why the high of 13:05 is not a logical pt 2. Point 2 should be set after pt 1. Spy saw this in his subconscious.

I haven't used Qcharts for some time but they definitely have a symbology guide. I just went here: http://qcharts.quote.com/ and all sorts of links for help.

Spyder could you please help with appying this flaw enty determination to my chart snippit below which has slightly different channels? As you can see I used the 10:50 bar as point one and therefore had a steeper channel than yours which needed to be fanned after 11:15. this created my blue...

I was just about to post a question about the 11:45 bar being an FTT as per your ES chart previously posted. IMO it couldn't have been because of the nature of the 11:50 bar (there needs to be a red retrace bar after valid FTT). Therefore I would consider the 11:45 and 11:50 bars as HVS before...

I thank CFerret for engaging Spyder in the conversations and creating the discussion. edit: its a given that I also thank Spyder for his generousity!

Here's an index I recently started for quickly linking to Spyder's daily ES chart posts. This has helped me to quickly pull up charts for review since I don't print them out. Hope others find this useful also. I use Open Office instead of MS Office. Hope this Excel conversion worked ok.

sorry, file didn't attach - trying again

The attached .pdf file is a compilation of some discussion on flaws from the ET Chat last week. I edited it for my own use and reference but it should be useful to others.

For your chart area #1, see Spyder's recent post to ticktrade where he described this "Dip". I saw the FTT at your #2 just as you did and took the short trade on that bar. I realized an HVS was occurring but mistakenly held short due to my misunderstanding of Continuation vs Change in this...

I'll second that!