Quote from VSTscalper:
Nice to see the tread back on topic.
This is how I see GMXR....on a 15 minute chart. While I don't trade equities anymore....just Futures....this is how I would trade GMXR. A 15 minute chart would be an eternity for me....since I am really a Scalper....on the Futures. But....the methods are the same....whether I am Scalping....or riding a Trend.
This shows how I use Trendlines....with my indicators. I consider Trendlines....as a Support & Resistance....just as I would the normal S & R horizontal line.
Good trading to all.
VSTscalper
Okay back to the fun part.
Your annotated chart is informative.
As a exit I chose 12:12 plus or minus and I was informed the price aggriegated to 44.27+. You can put a blob there.
from 21:12 on I have cash (or were I to reverse I have a short on.
lets look at the trendline overlap. Use your purple lines as the trendlines.
You drew them when you did. I am a person who draws traverses within channels and I draw ASAP.
I exitied because the volatility expansion (going out of the left channel line was not sustained by 12:12. this data set had many elements inclduing the non sustaining place of price.
You do not have my lines on your graph but my graph is also available and a compare can be made.
a sell for me is a divorce and the stock goes in the tneured pile which is a subset of my universe. the stock is out of the picture at that point.
Lets look at the chart from an SCT picture where the action would have been a reversal instead.
I would have been doing the min-max thing at that time. I do a thing to get a price that is concurrently the best exit and the best entry on the other side of the market.
An FTT has occurred as soon as the pullback on the traverse channel cannot resume and get to the left side of the traverse.
It is like going into slo-mo-tion with respect to the purple trendlines.
the retrace to the existing trend trendline is a non dominant traverse and it has a trendline that is formed from two consecutive or three at worst consecutive bars.
this beginning of the retrace CAN trun into the purple line that you drew. I use bars you use candles and a way of picking points that is a little different and who cares.
I am drawing at the time I am optimizing.
I needed a buck on GROW today to get 2.5%. I got it. I got it by doing the buy at the right time. getting the right buy on GROW is identical to getting the right reverse on this chart.
i keep sweeping and getting "sufficient" data sets and annotating as required ASAP.
all of this is foreign to all but spyder at this point.
Spyder is correctly asking others to work and work piecee by piece to be able to synthesize being able , at some point, to be able to collect SCT level data sets.
here I am at an SCT level and looking for the "right" price which has two characteristics which are outstanding: the best sell price and the best entry price for a short (it is also a sell price it turns out).
When I am able to start the OVERLAP of the of the trendlines I am at the place where two bars are in play and I may have to take the "scond chance" to get the price. that is, when I have sufficiency to draw the new treaverse trendline I am taking the second chance to do the reverse.
the only thing that moves the action to a place sooner in time is the details of medium and fine sweeps which are leading the second chance. Conversely, if I act before the sceond chance that locks in the up coming bare as point 3 of the three points required to make the trendline of the retrace.
this is not rocket science but it is in a world where a lot of knowledge and skills are being applied.
thisstuff is done all the time and in daja vu type settings.
I refer to it as a "drill" since it is done over and over and over as a routine and part of the time an action happens.
Once you have purple overlap THe traverse becomes purple for me usually so I have purple on the retrace so to speak.
here you see price residing between the two trendlines and it is always on the left of each trendline.
One trendline is beginning the other is extinguishing.
If you are making money where this is always the case even if only 2 or three bars are in use to make all trendlines possible then you are making what I call high velocity money. This is a multiple of the daily H -L of any commoditiy no mater which. because I see all of this stuff happen on a leading indicator of ES (which is YM) I annotate YM first and then I see to do a deja vu on ES and pickoff the exact turning price.
this is something many peoipple choose to not allow themselves to first experience and then later to get to believe as a consequence of experience.
It all hinges on how important it is for a person to choose to remain inert and to not do anything. It is veery important for most people and it is so important because then they can continue to stay in the space that they occupy to avoid pain. It is a very powerful survival tactic from heredity. It requires moving from nature to nurture. they are syaing "I will not allow myself to be nurtured" since they have learned the hard way that nurturing does not work for them.
