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4) Hold Short (retrace of a retrace) 5) Reverse Long.

Glad you brought this up. I don't think the bar crossing the formation boundary gives permission since price is outside the formation. I also drew a dashed faster paced line off the flaw that was just created to see if it might have given permission, even in that case I am not sure...

A brief visit back to context 1. I don't have video of this sequence. However I would have gone long on the attempt of the ES pennant breakout (12:20) and gone flat when the BO failed and then stayed out since the YM was in a formation and probably missed the leg down at 12:30. If I...

The ES has exited the lateral formation, we cannot look at the YM (at the moment of the snap shot). So I am looking for increasing red volume on the next bar of the ES for continuation.

The only type left is a Dip. For what must come next is the resumption of the dominant trend. What must come next if you sit on the wrong side of the market: - Price creating a higher high. - Volume does not really matter. (Increasing volume confirms the new dominant direction...

A very small retrace or bit of a lateral move (of a short duration) and attempt to resume the price move in dominant direction.

If possible I would like to join. Not to look for answers but to compare my actions and see where I might be wrong.

Thanks Avi 8

LOL thanks for pointing that out. I re-read his sentence and it makes perfect sense. Honestly I think I was doing exactly what the method tells us to do i.e. eliminate all possibilities until we are left with one possibility. When the point 2 formed on the ES I had two possibilities - a...

Thanks. Any reason you did not consider the 10:40 bar a possible FTT? Looks like you waited for confirmation before taking action.

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Where you trying to imply something else of was it just a typo? Can you expand on this a bit, this is the first time I have heard this. Do you mean both ES and YM voume PRV? Do you mean go ES -> YM -> Volume as each level gives one permission to go to the next lower level. I apologize for not...

Thanks Spyder for your response. I understand that the break out of the pennant needs increasing volume to confirm the current trend. My expectation for an up pt 3 was based on the B2B and the decreasing red after the pennant breakout @ 10:30am not as a result of the YM pennant breakout...

I was definitely anticipating a point 3 of an up channel and thought we had the turn when the YM broke up from pennant in the highlighted area. I am curious as to why you did not go long there but instead waited until the next ES bar to go long.

Here you go gman.

Today chart. A couple of notes: - I treated the 9:40am bar as decreasing red because increasing red did not continue on the following bar. Hence attributed the increase in volume of that bar to the Pennant BO - After Spyder's comments about lack of volume increase after a point 3...

Yes that would be a flaw indicating the new dominant direction as down.

Here is how I understand it. We view them as a formations first and possible flaws second. When the we break out of the formation we can look to see if we can consider a flaw occurring in the direction of breakout. In both of your examples, price broke up and not down so if you viewed...

Chart for today

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