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What about that 4 point outside ftt bar on increasing red volume? That usually tells me that the dominant is now down. The only way I could imagine seeing the "dominoes" fall towards an upwards lat BO is the fact that the same sequence of events just so happened to unfold on the 1300-1315 bars.

What dominoes? I don't see anything that would prevent the 1350, 1355, or 1400 bars from crashing down in similar fashion to the PT3 bar. To me this unusual channel is just something you draw at the time "because it fits" and because there is no downward PT3 yet. I don't see how you could...

We're in the same boat, wg. I made that move awhile back as well, and it has been a good thing. Someday the rest will be re-added, but there's no rush. Tons can be made using only the ES.

Oy.... CCC... increasing volume... decreasing volume... EXTREME volume... break out!

huh? why predict? we have an fbp, just chill until it breaks.

Bingo. Price just touched the LTL of not one but two channels, and a SYM pennant occurs. The market pauses to let you gather your thoughts. We have a few possibilities: 1) the first black bar is a hitch, and price will continue downwards creating VEs 2) an LTL bounce has occurred, and we...

very nice chart

Yeah I think it's an idea worth playing with, but not something to base a trade off of (maybe a cautious exit). Also, yours travel further on similar volume, mine travels further on half the volume. Additionally your last example's red bar in question goes up quite a bit at the end of the bar...

Not too shabby. Beats my personal record.

All I'm trying to say is you should try and figure that out for yourself. What I posted up there may very well be flat out wrong by Spy's standards or his personal rule set, but it has worked well for me. In any given day I end up with a ton of .5 trades, 1-2 solid PT3 trades (3+ pts), and...

If you care to know what I actually did during this segment, it was long at 1473.75 (FTP break), exit at 1474.25. I chose to take a .5 profit instead of riding it out like a regular PT3 trade, because of what I witnessed in the red bar. I couldn't deny that this was a sweet PT3 entry, esp...

Personally, from my resolution, the gaussians tell me what they tell me, and then I use formations to establish an entry point based on those gaussians. Example: You are a forest trader, you get a few bars of increasing black for the BO, a few bars of decreasing red for the retrace, and a...

Here is another example of what I said earlier about strong retraces. Snipped from the day I'm simtrading right now on Ensign. <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1653479"> What do you notice about this retrace? What I notice is that there was half as much...

My apologies, I did sort of miss your point...maybe? Does this imply that the guideline is to avoid low volume periods, which tend to be the middle of the range, or does it suggest to avoid the middle of the range because that tends to be low volume?

Bundle, This is a fantastic, crystal clear example of you taking great advice and misusing or misinterpreting it. The idea of a forest trader avoiding trades when volume isn't there, which typically happens in the middle of the day, is solid advice. Even jack says beginners should avoid...

I think what it boils down to is if prediction or hope has anything to do with it, then it shouldn't be traded. You anticipate a PT3... why? Why wouldn't you anticipate a dominant traverse down? The only thing I can come up with is that you are hoping for a PT3, and acted based on hope. This...

Even if you take this to an extreme and use this type of logic to avoid most trades, there will still be at least two "bread and butter" trades every day that bring home the bacon. FTT --> BO --> RETRACE --> PT3 --> PROFIT. Being so selective is painfully hard at first, but if you can make it...

bundle: What makes you so confident that there will be a pullback to a PT3? The last time there was an FTT in this channel (13:20), price kept right on trucking downward. This is irrefutably prediction, to take an FTT trade with the intention of holding through until a PT3 occurs. Why? An...

Regarding bundle's trade... Using only the ES, that looks very similar to a trade I might have taken - but one thing that would have stopped me is the strength of the retrace. I like to look for reasons not to take trades, then I avoid the trap of rationalizing incorrectly why to take a trade...

A resounding yes. One should be capable of this before even messing with YM/SS/DOM etc. ES/PV makes you profitable, the other stuff makes you MORE profitable -- it WILL NOT take you from unprofitable to profitable.