Quote from LittleMac:
Im having trouble figuring out the Guassians and chart for ANW and i really feel like its ready to break. Is what I have a correct chart and is there an FTT of the pink down channel.
Quote from LittleMac:
One other question I haveis for an FTT to occur on the Daily chart, do a Pt 1,2, and 3 need to be in place first. I understand that when you go to a finer fractal(60 min or 30 min) FTTs take place there too and might be inside of individual traverses of the daily but in terms of each respective chart.... does a Pt 1, 2 and 3 have to be in place before an FTT occurs??
http://www.elitetrader.com/vb/showthread.php?s=&postid=1788759#post1788759Quote from Padawan:
Does this mean we should add that it's ok to look at the YM when the ES is at the 20 SMA (assuming normal volume levels) because it can act as a trend line?
Quote from Spydertrader:
Does the Pink Down Channel show increasing Volume after the Point Three? if not, you answered your own question.
What i would consider to be th bar that led to an FTT and the corresponding Guassian, I have circled. After this bar, there was a decreasing black bar followed by today which was increasing black(typical of a B2B break out after an FTT). So my analysis tells me yes there was an FTT of the pink down channel which probably could be seen much more clearly on a more concentrated fractal. But then again, my Guassians are always what keeps me unsure as well as my inability to spot flaws and formations just yet. Some questions that arise immediately with every channle I draw....Are my pts 1, 2, and 3 correct. Do errors in my Guassians invalidate anything within my channel or spotting of the FTT??
Quote from LittleMac:
What i would consider to be th bar that led to an FTT and the corresponding Guassian, I have circled. After this bar, there was a decreasing black bar followed by today which was increasing black(typical of a B2B break out after an FTT).
Quote from LittleMac:
So my analysis tells me yes there was an FTT of the pink down channel which probably could be seen much more clearly on a more concentrated fractal.
Quote from LittleMac:
But then again, my Guassians are always what keeps me unsure as well as my inability to spot flaws and formations just yet.
Quote from LittleMac:
Some questions that arise immediately with every channle I draw....Are my pts 1, 2, and 3 correct. Do errors in my Guassians invalidate anything within my channel or spotting of the FTT??
Quote from Spydertrader:
You have drawn in a Pink Down channel. What color of increasing Volume needs to materialize after a Point Three in a Down channel? You appear to be suggesting that increasing Black Volume follows a Point Three Down. Does this make sense to you?
Absolutely doesnt make sense at all. I would expect increased red volume after the point three but where I get confused is if the channel is valid because we see increased red possibly on a 30 min or 60 min fractal within that one day move on the Daily. I'm assuming i should treat every fractal individually in terms of that chart's channels FTTs etc...
Thank you for the insight I defintiely will read up on the future's Guassian talk. Also, I have been searching for sometime now for a spot where Flaws and formations are explained thouroughly and a recent post in this forum has been a major help in finding these spots.
- Spydertrader
Quote from TraderD72:
As has been said before...
Establishing your Point 3 is not always the same bar that you take action on (enter a trade)...
Often we see a potential Point 3 (with low PRV) and confirm that it WAS indeed a Point 3, a bar or two (3? 4?) later, after we have the +PRV that we need.
Today we saw a Point 3 (down channel) at 10:15am, which had the required +PRV, but the bar had not yet traded below the low of the previous bar.
I usually wait for both, increased PRV AND a break of the previous bar low (or high for up channels) to take action.
Spyder.....Is taking action on this bar, once you have the PRV you need, jumping the gun?