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Stalker asked about this earlier and I and I imagine several others have the same question. This morning bar four dropped below bar three momentarily then reversed. When did you exit this trade? I have run into this many times so I do not enter on bar four unless it is also a break of the...

I dont know exactly what Stalkers situatiion is but I do know it is not easy for someone unfamiliar with the process to quickly post charts as they happen which is why I decided to get things started today. There are several ways to post charts quickly and can make some suggestions if needed.

I love days like today. A reminder to keep an open mind and trade the chart. I cant seem to rid myself of bias totally> I thought the market would go down. BUT I have learned NOT to trade my opinion. The chart does not lie.

Went back and made a couple of changes. I think this is closer to what should have been drawn. The 1, 2, 3's are apparent to me now but they werent at the time and I think its due to directional bias which I know was there. Who wouda thunk this sucker was going up .:)

Obviously my last channel was wrong. It was based more on feeling that actually knowing what to do. Mak was more in tune with w\hat was going on. I always have trouble with the channels after the morning move which is why Im hoping to learn something here. Updated chart.

Thanks a lot Lurker. I tried to do that once before awhile back but didnt get it right. I will try it again. I probably need to reduce the size tho.

I guess If I had to draw it it would be here.

Current chart. Havent made any changes as Im not sure how to here. It is still holding the original trendline pretty much. My feeling is that we go sideways for awhile. I know Im not supposed to predict.)

Interesting. Triangle inside of two channels.

Adjusted

Not sure if they woud agree with this latest channel but thats the way I see it.

black to black and red to red. I took it on myself to post these charts as I was not sure anyone else would and I am really hoping to get some commentary on them later.

Latest adjustment. LOL. Market says: What bad news? Time to get out if you took that long( Jack would be reversing), i think. Volume is decreasing.

adjusted channel.

Could have entered on break of bar five as volume on 2 min. was b2b and moving up.

Adjusted channel. Hopefully we'll get some commentary on how this is supposed to be handled. First trade was wash or small loss.

This is exactly the situation you were referring to Stalker, right?

First channel. Enter on break of bar 3

It is pretty tricky. Thats what were going to try to iron out on this thread.

If you dont know when your'e in chop you got a problem alright. I was not linking chop to timeframes. Its just my opinion that if your in chop, to drop to a smaller timeframe and try to trade it is not appropriate for a new trader.