All in the context. ( channel inside a channel)
OK, let me know if this is close or thinking totally wrong here.
TIKI
edit: above red in quote field is my answers to Spyder, he is only in black type
Iterative Refinement
- Thread starter Spydertrader
- Start date
All in the context. ( channel inside a channel)
OK, let me know if this is close or thinking totally wrong here.
TIKI
edit: above red in quote field is my answers to Spyder, he is only in black type
you had to ask that didnt you?
Disclaimer: I am not ready to dispense advice on how to properly trade this method, but this is what I do
To be honest, Im not sure I do know on that bar it's a point 3. Due to the sequence of events that transpired prior to that point in time, I am anticipating a pt3 down. As soon as I see price headed lower, I am in short (unless increasing black prv). With the other 3 volume possibilities presenting themselves, I am comfortable being short until further info becomes available. Hope that helps
I would hold short upon seeing that bar. Mentally break that one price bar into 2 volume bars based on how you perceive the intrabar price action. See if that doesnt help you make a determination
Example here
You already know the answer to this question.
Name the one thing you never want to see if short.
Once placing yourself back on the right side of the market, what then? Monitor the dominos which must continue to fall in order to make sure the market hasn't provided another signal for change (this time, in the opposite direction). As the dominos begin to fall indicating one sits on the wrong side of the market, seek additional information from the tool set provided.
What do the charts say?
- Spydertrader
CDNPatriot
Guest
Read Journal 1 and Journal 2 but have to drop back to Journal 1 for a bit due to an absence from the market.
Using stocktables Journal 1 methology I only get three stocks. It says to alter the RS and EPS until you get about 100. How low do you go though?
Using stocktables Journal 1 methology I only get three stocks. It says to alter the RS and EPS until you get about 100. How low do you go though?
I am thinking of a channel forming inside a channel. Competing channels as the possibility to 3 ways for that to exist.
So what is a retrace in one channel , may be the point 1 to point 2 in a new channel.
I'm still reading through Journal II, but this post might help.
http://www.elitetrader.com/vb/showthread.php?s=&postid=1165067&highlight=trash#post1165067
Interesting fact, this is one of two posts on ET where Spyder uses the word "trash". It made for a very easy search since you get to know people's writing if you read them enough (infrequent words stick out like a sore thumb...insert analogy here about chart time and continuation/change).
Thanks Spyder and Jander for your replies
.Ivo is right but I will go one step further, the trader has to use her/his own judgement for enteries. When you have done 100 odd drills of the same set -up, using the Jokari window philosophy, you will know when is the good time to enter.
Please remember the trade will not always go your way but you have volume to tell if you are on the wrong side of the market. (Jokari window)
I refer you to Avi-8's postings on page 170. Go through the charts, and make notes on how he uses the Jokari window to tell him what the market is doing. Go through the 4 sequences he posted in response to TUMS' quiz. He offered it on the plate.