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My concern is that this tic "formation" is going to appear on any bar that closes several tics from its low. Of course, context is important but if we are anticipating an FTT, as in the attached example, I can imagine that this would encourage frequent false identifications and overtrading. The...

ES 31 Jul 07

At 15:12 I see an FTT on ym for a short. The 15:10 and 15:15 bars on ES give decreasing red vol as required - all ok. At the close of the 15:20 ym bar (at 15:22) I see increasing black vol, making me think "dip". I am not getting decreasing red vol on es at this time so FTT invalidated - reverse...

A point that I did find a little tricky was when I concluded 15:25 was an FTT. The 15:30 bar did not give the anticipated decreasing red vol so I felt the conclusion to be invalidated. The ym at this time was toying with its 20sma and when increasing black vol arrived, all seemed to point to...

On the 13:30 bar we have increasing red volume as price forms a new pt3 short at the 13:25 high and also volatility expansion. The 13:35 bar shows decreasing black volume as it begins a retrace. For this to be a flaw, we would need to see anything but increasing black vol on the 13:40 bar...

ES 27 Jul 07 I don't recall ever seeing the average 5 min bar exceeding 5pts.

ES 26 July 07

In an up channel, the bars following your ftt should have reducing red volume until price crosses the right trend line and then red vol should increase to give the R2R as the BO occurs. That is the "textbook" sequence. Anything else and you may have a flaw instead of an ftt. Keeping an eye...

I most certainly do. However, there clearly must come a time when one moves on from monitoring/annotating and I would be interested to hear from others who have done so as to how they decided when this is appropriate.

At the close of the 11:30 bar on ES we have a possible peaking volume and a close well off the high. The 11:34 bar on ym shows decreasing black vol, suggesting lateral movement. The 11:36 and 11:38 ym bars show decreasing red vol - just what you need for an FTT. By the close of the 11:35 bar on...

ES 20 Jul 07

I attach a bar by bar review of yesterday. Although I am monitoring for change or continuation, it would seem that, owing to the coarse nature of using just es and ym price and volume, recognition of change vs. continuation is often very late. This is not surprising but is a concern if one...

Found today very difficult, possibly because of the number of reversals that occurred right on the left trend line. I read in a recent post of Jack's that he advocates starting off trading FTT to FTT with one contract, without the use of str/squ or the dom. This would clearly require being...

so far

ES 13 Jul 07

so far

ES 12 Jul 07

With 10:45 as your pt 3, entry on the 10:50 bar looks ok, but the exit is far too soon for forest level. Taking pt 1 at 10:00, exit would have been at the break of the RTL at 11:50 or 11:30 if a steeper channel had been used, recycling pt 3 as the new pt 1 and 11:15 as the new pt 3. For short...

ES 11 July 07

Monitoring notes 10 Jul 07