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Iterative Refinement
- Thread starter Spydertrader
- Start date
My ES chart for the day.
The areas I highlighted with a blue rectangle were areas of confusion for me.
A few of the Point 3's that I marked showed increasing PRV (compared to last bar) but by the close of the bar ended up with LESS volume.
The bar also broke the High/Low of the previous bar only to return within the previous bars range.
**TIKI we have a few differences in our charts. I was wondering your thoughts behind your RED channel?
As always comments about my chart are welcome.
The areas I highlighted with a blue rectangle were areas of confusion for me.
A few of the Point 3's that I marked showed increasing PRV (compared to last bar) but by the close of the bar ended up with LESS volume.
The bar also broke the High/Low of the previous bar only to return within the previous bars range.
**TIKI we have a few differences in our charts. I was wondering your thoughts behind your RED channel?
As always comments about my chart are welcome.
Attachments
Quote from ivob:
For me it was an extreme difficult day.
Very quick FTT's (that normally sometimes I would not even consider an FTT). Moves that ended quickly.
Strange sudden bars that confused me. 100% flaws that were not flaws but FTT's... (around 12:45)
I think I need a lot more experience to be able to end a day like this profitable. I was very consistent lately but when doing exact the same things on days like this things go wrong. So these type of days need to be identified quickly.
It's all a volume thing. We were in the last bars of yesterday and at times volume was really low today. Should have sidelined then volume dropped off so much.
A question for Spyder. You wrote you don't trade each non dominant traverse. What about non dominant traverses after a volatility extension?
Regards,
Ivo
Yes the market seems much "faster" to me lately.
Then it seems to go from fast to looooong laterals. Then out of the blue a sudden move one way or the other.
It also seems that even if I am right about the direction of the market, my position can move against me by a few points (not TICKS like before) before proceeding.
Quote from TraderD72:
My ES chart for the day.
The areas I highlighted with a blue rectangle were areas of confusion for me.
A few of the Point 3's that I marked showed increasing PRV (compared to last bar) but by the close of the bar ended up with LESS volume.
The bar also broke the High/Low of the previous bar only to return within the previous bars range.
**TIKI we have a few differences in our charts. I was wondering your thoughts behind your RED channel?
As always comments about my chart are welcome.
You're missing a channel near your 2nd blue box (see the B2B). I viewed that 2nd blue area as an HVS (note the decr alternating volume).
Quote from TraderD72:
My ES chart for the day.
**TIKI we have a few differences in our charts. I was wondering your thoughts behind your RED channel?
I use the 20 sma as a right trendline often when it makes sense to. In this case today it did for me.
I recycled the point three I had at around 10:20 and made that the new point 1 of a down channel. As price retraced at 11:20 back towards the right trendline on decreasing volume, I was looking for a point 3 down. The point I actually labeled point 3 at 11:35, moved lateral. The 20 sma was acting like a right trendline so I kept the channel and watched for increasing red, which did not come in until around 12:30. So red channel for myself was formed in this way.
I hope this helps. Often we each see things a little different, but wind up in the same place.
Attachments
Quote from ericta:
I will be very "skidish" after I enter on VE. Is there a drill for this kind of behavior? hold as long as volume is decreasing?
Note where the DOM wall sits above the high of the VE bar. Watch how Price bounces off this point (or fails to move toward it). Note also how the YM behaves. Know (in your mind0 what sequences to expect for Price to continue in the Non-Dom direction vs continuing in the Dominant direction.
- Spydertrader
Quote from TraderD72:
My ES chart for the day.
The areas I highlighted with a blue rectangle were areas of confusion for me.
A few of the Point 3's that I marked showed increasing PRV (compared to last bar) but by the close of the bar ended up with LESS volume.
The bar also broke the High/Low of the previous bar only to return within the previous bars range.
**TIKI we have a few differences in our charts. I was wondering your thoughts behind your RED channel?
As always comments about my chart are welcome.
Hi TraderD72, I don't know if this is right, but here's my thinking. Maybe we can help each other. On your first blue box, I remembered guavaman's chart where he pointed out even harmonics in a downtrend (see attachment, hope you don't mind guava). At the end of the close of the 12:40 bar I thought, "this looks familiar, like even harmonics" and held short on the close of the green bar, waiting to find out the future. It didn't hurt that I considered the YM 2 min dominant to still be down and ES price was sitting at the RTL.
Like Pr0crast, I thought "HVS" in your second blue box. Didn't see a RTL on your chart, but there was a FBO during that period. The YM was a little tricky to me there, but the FTT and internal formation (formation fbo, I think?) at 14:18/14:20 helped some in identifying the ES FBO. I apologize for not posting my charts. I'm using a new charting platform and still learning to use it. Right now everything looks like chicken scratch.
Have a good weekend everybody.
Attachments
I would like to take the time to say I have truly met the nicest group of people here. The professional attitude of everyone and more than anything, the friendliest group of traders that have come together to accomplish a common goal. I have received a never ending amount of support and feedback, to which I am truly grateful. Besides the amazing journals, the 'underground' network that keeps this journey in a forward progress is one of friendships that develop and grow worldwide.
Thank you everyone!
Thank you everyone!
Quote from ljyoung:
Vorzo,
A similar situation occurs, IMO, when you have a very narrow range bar [low money velocity] with an "inappropriately " high volume. Both cases should alert one to anticipate change.
lj
I would say
"long bar with low volume" indicates weak on the opposite side. eg. a green long bar with low volume => short side is weak.
"short bar with high volume" indicates strong on the opposite side.
in both scenarios, the force in the long side is still a myth, we need another round of MADA to decipher it.
ER
Quote from TraderD72:
Yes the market seems much "faster" to me lately.
Then it seems to go from fast to looooong laterals. Then out of the blue a sudden move one way or the other.
It also seems that even if I am right about the direction of the market, my position can move against me by a few points (not TICKS like before) before proceeding.
someone suggested to trade slower fractal when volatility is high. I found it works for me.
er