Will you share the 30min?Quote from jack hershey:
The 30 min does have one channel fully annotated today. Annotations were done and the market proceeded.
Quote from jack hershey:
This attachment will begin to help you.
Quote from jack hershey:
I will get to work on the channel system I use this weekend.
Unfotunately, I have so many things wrong with me healthwise, I do not know on a daily basis if I can rise to the occasion...
Hey Jack, hang in there!
Quote from frenchfry:
Will you share the 30min?
I have been posting the 30 min TF and I am doing two fractals of channels on the 30min TF chart. There is continuity from day to day and you are able to see how the degapping is done. I am also annotating it in a manner to hilight significant aspects of channel theory.
Why do you annotate channels in 30min but not in 5min?
I am a minimalist and the standard is completeness. Because I fit into a Harris classification that includes TA and frontrunning underspeculation, it is impotant to know whom I am frontrunning: both CW and PA and other TA methods. My SEC profile is that of an "insider trader".
All of this means I USE a CONTEXT at all times. The huge foundational aspect of CONTEXT is market sentiment. As in ACD, there are simple foundational aspects (read all of RunItOnce's Q's to Maverick to see a beginner trying to find out the simple principles in that method (9 posts) He is learning on what months qtrs begin for example)) ACD has a context and then details can be added.
On the other had, I put details together to have a CONTEXT. For me the market drives the system of the market's operation. To operate as a frontrunner (this is advantageous as an orientation. The SEC deems "insider profile" simulation as a criminal pursuit, however.)
A charting time frame provides a basis for a level of market sensitivity. Within a timeframe, market fractals built from details upward, can come into view. The 30 minute timeframe gives me the CONTEXT of those I am frontrunning.
Thus I use a simple method to always have the CONTEXT framed and I always know how far along this context is in the econometrics of the market's culture.
I avoid loose ends and I eliminate risk. This is WHY I annotate the 30 minute channel.
The trading fractal is the central fractal of the 5 minute timeframe. Slower and faster fractals surround the central fractal which is annotated as to its turns at events. As a minimalist I do not do channels on the 5 minute fractal all I do is the turns of channels which come from the details being put together. "Putting the Pieces Together" and "tomorrows Newspaper Today" characterizes how the parts sum up to provide the whole.
Effectiveness and Efficiency are determined by measuring against a standard. I use the ATR. Taking the full offer sums up to be a multiple of the ATR. The trading fractal is the optimum for me and what I do. Humans can only do so much. I feel comfortable, supported and conficent while using my tools set on the 5 minute trading fractal. Because completeness is a necessity and because I frontrun, I must follow a regime that is always complete. I say I know that I know as a measure.
I use remnants of channels on the 5 minute because they suffice. The bookmark is the divider between a long and a short orienttion in the market. The simple truth is this: If you want to take the full offer of the market, you have to be on the correct side all of the time. I cannot abide using an arbitrary measure.
If you want to delay making the correctside/wrong side decision until it is final, you do wash trades if and when not making money occurs before a turn event occurs.
To frontrun that type desicion you need a leading indicator of the bookmark. this indicator uses two techniques to refine its usage: fnning and acceleration (VE). the indicator is the channel rtl on the sub frctal of the trading fractal.
I classify the bookmark and the rtl as "failsafes" and they are kept seprate from the "system of the market's operation". The system of the market's operation is not accepted as part of CW. But it is proven and a complete system.
Why do you sometimes seem to start to draw channels in 5min but then don't continue?
I am just using the minimum portion of channel analysis to achieve a specific goal.
Quote from frenchfry:
Found it.
But now the question is:
Why don't you use the volume bands on 30min as well?
I am determining the market participants' sentiment only and in a minimalistic manner. Channels do this on the dependent variable.[color]
And in general... Why do you use bands instead of gaussian lines?
I MUST know what is going on. I use events to determine statistically signiificant occurrances. Events happen as part of a system of interrelated OOE's (Orders of sub and super level Events).
A set of elements comprise what is differentiatable in markets according to the variable's given designs. As a consequence a specific mathematics is applicable. To an observer of markets, this is all dictated BY the markets and NO OTHER APPROACH is possible that will eliminate problems. Problems fit into three categories: noise, anomalies and flaws. Errors and Omissions are avoided by not commiting human failure.
The set of events, I call End Efffects in the independent variable.. They coincide with turns on the dependent variable.
In summary, a system arises. Mathematics defines all elements precisely. A full differentiation results.
For convenience, a classification system is used. The end Effects appear in bands which are defined by values of the independent variable. The bands are used on the trading fractal.
Quote from river:
Thank you for the detailed annotations on yesterdayâs 30 min ES.
As the day unfolded, I viewed the 30 min as continuing an upward sloping traverse that began at the low of bar 9 (the bar ending 2:00 pm EST) on Tuesday and continued throughout all of Wednesday. Although our nomenclature may differ, and your chart was more thoroughly annotated, I was reassured to see that my chart was very similar.
I have a couple of questions about two of the comment boxes on your chart. The box that reads âOn VE moveâ¦.â appears incomplete.
Please locate this for me (use bar ID and price range as loci)
Is there a second part to the comment shown? There is a box that reads âShort move 1 to 2 bustedâ and points to bars 6 and 12. (On my 30 min chart the areas in question are both just after a retrace completed.)
throw away your definitions of retrace
Is this box intended to point out that a ânormalâ dominant, non-dominant, dominant type trend failed to develop, or does it refer to something else?
This Q brings out a lot of information that must be known about channels. Imagine a person trading ACD and not knowing the layers. He gets trapped by an ommission and makes less than a multiple (multiple means and values greater than 1and NOT a fractional value) of the ATR on any given day.
Markets move in cycles. A cycle is a pair of opposite trends.
both these understandings are VERY IMPORTANT and are not violated.
Sub tending this MAJOR understanding are trend characteristics. From the get go it has to be understood that trend following does NOT work. Hindsight is the principal component of trend following and it occurs after all trading opportunities. Too late for making money.
Hence I use monitoring and analysis. Two time periods are used: slightly in advance of the present (near term future) and the present known as NOW. Knowing that I know involves having complete and certain understanding of both.
ACD determines the near term future values as we all know. The information is then used in the NOW.
What Must Come Next (WMCN) is how the near term future is determined. This, then, moves in to the Present subsequently.
Ifan ommission occurs it is called WWT (What Wasn't That).
For trend channels, there is an Order Of Events. "The Pattern" shows the elelemnts and their OOE's in the context of the market cycle. This is cast in stone.
As a consequence there is an expectation that a Break Out (BO of a channel is WMCN in the OOE of a channel.
BUT an FBO (Failure to Break Out) can occur. All of the aspects of channels are not on the table and can be taken into account. I do all of this daily on the 30 minute chart for the purpose of using the CW market sentiment as a tool in frontrunning the smart big money the make a multiple of the ATR every day.
The chart you are following, has had several FBO's Wehen a price internal is present as a presumed BO is about to occur, the BO cannot occur and the channel TL is fanned so that the internal remains within the channel. the principle involved is "obvious". DURRING INTERNALS NO MEASUREMENTS OF THE INDEPENDENT VARIABLE MAY BE MADE; A WAIT IS IN PLACE INSTEAD.
Move 3 leads to the FTT. If an FBO takes place, two moves follow.
within a channel an odd move after move 3 can happen. If it does not BO (see clean page 4), then an even move in the channel follows. then the next odd move CAN BO. Many times this is repeated.
Recently that was the case (inverted saucer). If and went the apex of the saucer occurs the long channel will end.
In an effort to refine my application of the channel methodology and eliminate any inadvertent inventions of mine, Iâm looking forward to a close, careful study of the channel system you use.
-river