Quote from The Swordsman:
I shorted at 15:25 bar and thought everything was good b/c the next bar went lower on increasing red volume. Is this bar not an FTT but a flaw?
See my chart above. Yes, its a flaw - one big Dip.
- Spydertrader
Spydertrader's Jack Hershey Futures Trading Journal
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See my chart above. Yes, its a flaw - one big Dip.
- Spydertrader
Quote from The Swordsman:
Hey Spyder,
I shorted at 15:25 bar and thought everything was good b/c the next bar went lower on increasing red volume. Is this bar not an FTT but a flaw?
The bar you shorted on had volume which was less than 1/2 the prior bar. Such low volume suggests flaw, not FTT. When volume plunges to 40-60% of the prior bar, think flaw.
I see the dip, thank you. I guess the way to go about it is to see that 15:25 bar has very low volume and think "flaw", so dont get short. Then see what plays out and then determine what flaw we have?
Or if I was short before the bar closed and then saw that volume was that low, I should just get out.
Or if I was short before the bar closed and then saw that volume was that low, I should just get out.
Quote from The Swordsman:
Hey Spyder,
I shorted at 15:25 bar and thought everything was good b/c the next bar went lower on increasing red volume. Is this bar not an FTT but a flaw?
We were traversing from the LTL to the RTL so this couldnt have been a FTT anyway. (on the green channel)
15:20 provided a volitility expansion, next bar could have very well been an FTT. I'm not sure I understand what you mean. I do see now that the bar itself was very low on volume and I should have seen this as a potential flaw.
Price went from the RTL to the LTL creating a volitility expansion at 15:20. The next bar failed to traverse higher (FTT) potentially. However, as was pointed out by Bundlemaker and Spyder, this was a FLAW. Had it not been a flaw, we would have had an FTT.
I think you must be misunderstanding what I'm saying, perhaps Spydertrader can comment and straighten this whole mess up
I think you must be misunderstanding what I'm saying, perhaps Spydertrader can comment and straighten this whole mess up
Ok, I understand what you are saying now, however I dont think this is always the case. I see FTT's that do not have to come from a RTL to LTL traverse. I think it also depends on how many times you update or fan out a channel perhaps.
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