Spydertrader's Jack Hershey Equities Journal II

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Quote from Spydertrader:

I head to Tucson, Arizona again next week returning the following weekend. Until then, enjoy the weekend, and Good Trading to you all.

- Spydertrader
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Trading with the Master himself? I'm envious :)

Have a great time, Spydertrader.
 
Quote from bigmoose:

Spyder, any insight on future camtasias? IIRC you were working on some from your last trip?
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I'll find out the planned release date for these additional camtasia videos during my trip to Arizona, and report back here upon my return.

- Spydertrader
 
I am trying to practice drawing channels but am having a little trouble. I have drawn in channels on two daily charts for CBEY two different ways. Could someone tell me if either way is correct, if they are both wrong could someone show me the proper way. Thanks
 

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I also have a questions about entry based on the channel. When looking at the second channel drawn on both charts for CBEY ( the downword channel, it is basically the same on both charts), say for example we had a signal for enrty before the point three was made, or even before point two was made for that matter. Since the channel does not have the specific 1,2,3 formation yet, what would you do, assuming that all the indicators line up correctly.
 
Quote from TimDog:

what would you do, assuming that all the indicators line up correctly.
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You short the bar after the Point One (as you have drawn on the chart). Why? The Point One is also a Point Three (downtrend) from several bars back where we see an FTT (Failure to Traverse). Can you see it? Move backward from the point One (Three in this example) to the point two (not drawn) and point One (also not drawn). You follow the indicators (MACD and Stochastics) down until you see the next FTT (Point Two on your chart) where we also have MACD Histogram rising.

- Spydertrader
 
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