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LOL. You know the menu that I eat from well :)

EOD wasn't too bad today. 1. First long was that goon move when my chart was set to 333 tick. 2. Second long was a TL break with no volume conviction, that was just trading anxious and not waiting. 3. Followed the rules and was all good. 4. Nice fakeout to the upside, but when volume...

Well it's good to know that I've had my chart on the wrong tick size all morning. :eek: The chart makes even more sense now! I wouldn't have even taken that last long in the first place if I was looking at this correctly.

Took the stop at 69's. Net trade was a -3.

Leaning towards a scratch... Stop at 69's. If 90's trades I think we're in business.

One thing I've noticed as well is that sometimes these TL's can shift a bit. For me the breakout hasn't really developed yet, and the TL is starting to flatten. I will adjust the TL as we go at times. I guess that's the nuance part of it, but if you stare at it long enough you get a feel...

I was thinking the same thing. Longs have been cake today. Another Bearish TL setting up on CL, which means I'll be watching for a break of that TL to buy.

\m/ Nice and straightforward.

Also, I didn't mark it, but look at where volume comes in. If volume comes in on the down moves, someone is going long or closing a short. If volume comes in on the up moves, someone is selling.

Have faith! Sometimes to make the decision for me, I set buy / sell stops. I look at what "swing" would break the trendline on a retest, and then I set a buy stop for one tick above that swing. In this case it was 108.58's.

POP! :)

I think I may just prefer to call it the "Bigsnack Triangle". A whole new pattern for the TA books!

Well whatever the heck it's called, it works for me :) If anything it is simply the convergence of two trendlines, although it looks pretty triangular to my eyes.

They work great on the ES as well :) Since I'm using a tick based chart, I will usually put my stop below the most recent swing, which can vary between 8-15 ticks. As soon as I see some sort of higher high (in the case of a long), my stop goes to break even. If the stop has to be placed...

Ha ha, I sure hope not :) You can trade it as a pure pattern, or if you are interested in looking at the nitty gritty you can take the analysis (aka guesswork) a bit further. Maybe this is totally false, but I look at volume as some sort of big player. Big volume can either a) cause the...

Here comes the volume, any minute now...

Okay here we go again.

Rock on DSAVE! I was hoping this thing would melt some faces, but huge volume came in at the recent high, so someone isn't interested in letting this move get out of control.... Still, that was a quick 40 ticks!

Okay so please tell me someone else caught that. :)