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Strong day of continuation and change. Found the day to be much easier than yesterday's trade.

Good start to the day, followed by a challenging afternoon.

Notice how the highest black was a point 2. We then had the retrace which led to the pennant and increasing black volume which confirmed the point 3. Also, the bar that the FTT occured on behaved like the "puddle in the mud" type of situation.

Good morning. Attached is my chart from the AM.

This Point 3 was text book for me. Increasing red volume out of the pennant and off the moving average.

Today's ESM8

Today's ESM8

That was very helpful, thank you all very much for your time.

It clearly was a BO after the fact, it is very simple to see. At the time it is a big picture retrace, after the BO on increasing volume and reversing my position, the market is now 12 points away from my entry. Am I supposed to hold through it and then reverse on my BO? I know those are the...

I certainly see that after the fact. But prior to the spike there was increasing black volume which was still dried up relative to the prior red volume bar sequence.

Please see my chart from this morning. I have a question regarding the sudden rally we saw. We saw this as a retrace in a down channel, and not a sudden change in the up direction. Any feedback would be greatly appreciated.

These FBO's caused some confusion.

continuation off of the FTT

Today's ES

Thank you for your reply. I see how the increasing red bar is a bigger down channel pt. 3.

Is this not a valid channel because increasing black volume never followed.

This FTT out of the down channel leading to a big picture trend change is starting to become very familiar.

Today's FTT which created a big picture break out and continuation with the long position.

Had trouble with this position in real time. Turns out the pennant in the dow broke out towards the upside. At the time I thought a pt 3 channel had formed towards the downside.

Caught the pennant bo both on Dow and ES