Iterative Refinement
- Thread starter Spydertrader
- Start date
my chart for today
2 Trades today.
First trade.
Just a classic pt3 set up.
Established pt1 and pt2 on increasing black then decreasing red.
YM shows decreasing red on the non dom tape then change in price direction followed by BO of the tape.
Also price resting on 20sma
Entered long.
WMCN: Increasing black to LTL.
Started off looking good but YM showed change. Most of circled bar was red volume.
Exit +.50
First trade.
Just a classic pt3 set up.
Established pt1 and pt2 on increasing black then decreasing red.
YM shows decreasing red on the non dom tape then change in price direction followed by BO of the tape.
Also price resting on 20sma
Entered long.
WMCN: Increasing black to LTL.
Started off looking good but YM showed change. Most of circled bar was red volume.
Exit +.50
WMCN
Discussions of Analysis
Skill improvement drill # 1.2
Some really great thinking was applied to the charts posted on drill 1.1.
Tonight will continue with WMCN drill 1.2.
I reviewed all the charts for annotations.
The chart posted tonight has been annotated based on the common channels in all of the charts. This is all the annotations that will be added.
For the next 17 bars ( days), draw your annotations starting from the drill 1.1 bar.
You might notice all screenshots are taken at the very second ES closes one bar, and opens another bar. That split second allows you to look at the YM because ES will most likely be in a forming pennant.
This is what I had really been amazed by Spydertrader in NYC.
It was at this very moment in time, at the close of the ES, and the split second it opened a new bar, that Spyder would make the immediate decision for continuation or change.
During the entire 5 minute ES bar Spyder was gathering all data needed, to make the decision at bar close for continuation or change. At that very split second on close. . . decision made.
It was very hard to describe that in posts. In this way, one 5 minute bar a day, you can begin to apply that mindset at the very close of each bar just the way Spyder decided. . . continuation or change.
Keep describing everything you see in the charts as you had, and just add to the chart- at bar close, did the market signal continuation or change at that very moment.
This is the best way to share what we had a chance to see done.
Here is tonights drill.
Here is the Video link for
WMCN skill improvement # 1.2
http://www.screencast.com/t/CWt7tWoML
Attached below is the ES and YM screenshot.
Discussions of Analysis
Skill improvement drill # 1.2
Some really great thinking was applied to the charts posted on drill 1.1.
Tonight will continue with WMCN drill 1.2.
I reviewed all the charts for annotations.
The chart posted tonight has been annotated based on the common channels in all of the charts. This is all the annotations that will be added.
For the next 17 bars ( days), draw your annotations starting from the drill 1.1 bar.
You might notice all screenshots are taken at the very second ES closes one bar, and opens another bar. That split second allows you to look at the YM because ES will most likely be in a forming pennant.
This is what I had really been amazed by Spydertrader in NYC.
It was at this very moment in time, at the close of the ES, and the split second it opened a new bar, that Spyder would make the immediate decision for continuation or change.
During the entire 5 minute ES bar Spyder was gathering all data needed, to make the decision at bar close for continuation or change. At that very split second on close. . . decision made.
It was very hard to describe that in posts. In this way, one 5 minute bar a day, you can begin to apply that mindset at the very close of each bar just the way Spyder decided. . . continuation or change.
Keep describing everything you see in the charts as you had, and just add to the chart- at bar close, did the market signal continuation or change at that very moment.
This is the best way to share what we had a chance to see done.
Here is tonights drill.
Here is the Video link for
WMCN skill improvement # 1.2
http://www.screencast.com/t/CWt7tWoML
Attached below is the ES and YM screenshot.
2nd trade
Following down trend.
P1, 2, 3 established.
Did not get increasing red vol to sustain down move.
YM showing showed ftt and BO
Thought we had a legitimate ES FTT.
Entered long, a little late I thought but not too bad.
WMCN: BO volume and price which we got.
Looked like we had our pt2.
WMCN: decreasing red volume
Got it
Hold through pt2
Exited trade for no reason other than anxiety. I think I was afraid of a 20sma whipsaw.
Anyway, was correct on the trade and missed out on nice run.
+.25
Following down trend.
P1, 2, 3 established.
Did not get increasing red vol to sustain down move.
YM showing showed ftt and BO
Thought we had a legitimate ES FTT.
Entered long, a little late I thought but not too bad.
WMCN: BO volume and price which we got.
Looked like we had our pt2.
WMCN: decreasing red volume
Got it
Hold through pt2
Exited trade for no reason other than anxiety. I think I was afraid of a 20sma whipsaw.
Anyway, was correct on the trade and missed out on nice run.
+.25
Just a personal thank you for everyone sharing their time. A lot of good can passed around to all.
ES M8 Daily Chart March 31 / 2008
ES daily bar formed a lower low and lower high on increasing volume.
Also an intrabar gaussian shift took place and closed slightly higher than its open.
Price is still inside the dominant down channel.
ES daily bar formed a lower low and lower high on increasing volume.
Also an intrabar gaussian shift took place and closed slightly higher than its open.
Price is still inside the dominant down channel.