today's chart
Iterative Refinement
- Thread starter Spydertrader
- Start date
ES M8 Daily Chart March 26 2008.
Today formed a lateral formation on the daily chart.
Price has entered back into the dominant channel, but within the lateral formation on lower volume.
Today formed a lateral formation on the daily chart.
Price has entered back into the dominant channel, but within the lateral formation on lower volume.
First, thank you to all. This journal and the last one are simply amazing. Iâve been annotating for about 2 months now. I hope this question isnât too basic.
On the attached chart, please note the 2 red arrows. Increasing non-dominant volume? I got stumped on how to draw the Gaussians at this point.
Perhaps the more important question is what could one have noted in order to NOT think the trend has changed to down at that point. IOW, at my current skill set I would have seen that bar as CHANGE, yet the market continued to move up afterward.
I hope I'm not missing something dumb
On the attached chart, please note the 2 red arrows. Increasing non-dominant volume? I got stumped on how to draw the Gaussians at this point.
Perhaps the more important question is what could one have noted in order to NOT think the trend has changed to down at that point. IOW, at my current skill set I would have seen that bar as CHANGE, yet the market continued to move up afterward.
I hope I'm not missing something dumb
Charting the daily bars for a few months now at a greater level than I had in the past has revealed some things.
I hope this can help some to see things come together, and also look for weeks and months to come and see if you notice anything to add.
I have realized the daily chart helps me to avoid trading some days that I find hard to trade.
The hardest day of all is the narrow range high bar overlap days.
I started to notice a pattern on the daily that shows a day like that MAY have a greater chance of appearing.
I then take caution to the day as entering trades or even trading.
Other days show that higher intraday volatility will be a greater chance of happening. That in advance prepares me for intraday bars of greater volatility per bar and understanding how I may have to be prepared for those trades.
I have attached a daily chart explaining what I have noticed over the months.
This is just something I have seen and can share so that others may take notice over months to come and see if there is something to gain.
In No way is this a rule to follow because anything can happen at any time. Just a personal observation to share.
I hope this can help some to see things come together, and also look for weeks and months to come and see if you notice anything to add.
I have realized the daily chart helps me to avoid trading some days that I find hard to trade.
The hardest day of all is the narrow range high bar overlap days.
I started to notice a pattern on the daily that shows a day like that MAY have a greater chance of appearing.
I then take caution to the day as entering trades or even trading.
Other days show that higher intraday volatility will be a greater chance of happening. That in advance prepares me for intraday bars of greater volatility per bar and understanding how I may have to be prepared for those trades.
I have attached a daily chart explaining what I have noticed over the months.
This is just something I have seen and can share so that others may take notice over months to come and see if there is something to gain.
In No way is this a rule to follow because anything can happen at any time. Just a personal observation to share.
The trend did change - two bars earlier - to the downside. Since increasing red Volume only materializes under certain circumstances, one simply needs to go 'look' for these circumstances to show themselves. Once noting the possibility of two competing channels existing, check the YM to 'see' what it has to say. The YM provides a crystal clear signal right at this time. Find it, and let everyone know the outcome.
- Spydertrader
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