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ETLURKER, your version of the Cashcow has demonstrated what I, in another thread, have thus far been unable to... consistent and competent beginner level SCT, trading the long diagonals of the channels and wider traverses. I commend your efforts, and congratulate you on your current...

Clicked on from work today and took a walk on the mangy side of life, reading ET sans ignore list, in all its unabashed and unfiltered glory. The downtown slum pre urban renewal; pre policing and pre sanitation. I discovered I have a fan club, my very own pack of priggish periodistas...

The Day <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2290017>

Short channel <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2289649>

And back short. Might call it a day. Timing is way off. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2289386>

Reverse long. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2289381 width=800>

Reversal. Once again, I can't help but wonder how much healthier the bottom line would be without reversals. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2289320>

As an aside, I think yesterday is the ideal day with which to decrypt the defining line between faster fractals and 5-minute ES traverse level. Many faster fractal traverses are patently obvious, but the useful thing about yesterday is that we have a relatively narrow, brief 5-minute level...

Reversal long. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2289304>

I'm beginning to wonder if the first long traverse had been a faster fractal and whether this is now merely a non-dominant lateral of a larger traverse... opens and closes in a horizontal line.

Reversal short. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2289279>

Contemplated going long at the close of bar 1, but felt that may have been a little reckless. Long entry at the close of bar 2. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2289253>

Spyder kindly posted his chart in the IR thread. I'm sure he won't mind if I post a copy here. Perusing his chart, my suspicions have been realized, namely that I've been taking liberties with both laterals and channels. As regards channels, I knew we were in a carryover long channel...

The Day <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2288424>

-6.25/21.75= -0.29 ATR Good entry, followed by three decent reversals. Went pear-shaped during lunchtime with two bad reversals, then a persistent lack of synchronicity during the long traverse. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2288412>

Exit. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2288387>

Reversal short. Was convinced there was another leg left in the long move, but couldn't argue with the RTL break. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2288325>

Losing my bearings during midday drift seems to be a recurring theme, and certainly today, turned a potentially solid performance into a decidedly weak one. Reversal long. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2288254>

Reversal short <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2288219>

My analysis couldn't have been more wrong. Accepted that we were back in a long channel on bar 56, waited for a retrace, then remembered some of the violent parabolic trends in recent memory and opted not to wait for a potential retrace. Looks as though it's going to be a lateral retrace...