Iterative Refinement

Yes.
Quote from Mikel:

Quote from cnms2:

WMCN drill 1-5:

ES: decr black volume (above flaw level) in down channel => Change

Hi cnms2,

Do you consider the bar black, because it made a higher high and higher low, even though it closed lower than its open as well as the previous bar's close.

Thank you.
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1) Yes, and yes.

2) I hold through flaws. YM leads at points of change, it provides additional information, but ultimately I trade the ES' price and volume.
Quote from 8833broc:

CNMS2 Question Drill 1 Bar 5

Regarding your decision to go long on Bar 5 what if:


1) YM on Bar 5 was an inside bar on DEC PRV. Would the decision still of been to reverse long ?

On the NEXT question assume YM values were as shown on the drill's chart.

2) ES Vol on Bar 5 < 40% of Previous Bar then you would of been thinking flaw instead of FTT. Would the decision still of been to reverse long ? Would YM still of been a factor in this decision ?

Thank You !
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CNMS2

So the decision to go long was 100% based on Bar 5 of ES
having a higher hi and higher low compared to Bar 4 ?

Decreasing PRV on the ES didn't bias your thinking here to go long ?

Thank you !
 
eliasg101,

My 2 cents worth on TASR 30-minute chart.

Great advice from padawan and Spydertrader, but as a beginner and conservative trader, I am hesitant to jump into a stock which has just broken its upper channel line.

Plus, the 10:00 30-minute bar that occurred after the crossing of the LTL showed decreasing black volume indicating could be FBO. Based on personal bad experiences, I try to stay way from buying at channel tops.

Again, just passing on my sophomoric knowledge.
 

Attachments

I think we both say the same thing. Not seeing the real-time price action, as well as taking decisions (or at least planning them) only at the end of the ES' 5 min bars, add to the possibility of error. Anyway, this is just a drill that offers us opportunities to look at each other's M-A-D-A routines, and learn something (or ignore it). :)
WMCN drill 1-5:

ES: decr black volume (above flaw level) in down channel => Change
YM gate opened: b2b; last OB defined the retrace's Pt3 then its VE

The drill's video seems to show increasing PRV when price moves up for both ES and YM, except the YM's volume accelaration down during the last minute, after the price stalled in the Sym. YM's red PRV is bellow last black peak.

Action: reversed LONG at the closing of the just closed ES bar.
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Quote from 8833broc:

CNMS2

So the decision to go long was 100% based on Bar 5 of ES
having a higher hi and higher low compared to Bar 4 ?

Decreasing PRV on the ES didn't bias your thinking here to go long ?

Thank you !
More...
 
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