Spydertrader's Jack Hershey Futures Trading Journal

[guavaman]

Is there a chat room that JHMr's are attending. The one on ET here seems to be rather low on us

 

[WGTrader]

Just watching the volume...

 

[guavaman]

Can't see what data I missed in reading the retrace/reversal off the 12:00 bar. The :05 bar was most definitely a flaw. I couldn't determine whether the flaw was occurring in the downtrend or a new uptrend. Since no particular reason to think change I anticipated continuation. Obviously I was wrong. The YM had dec. black until it was to late to recover any of the points gained from the previous down move.

Any clues here?

 

[Avi 8]

Quote from guavaman:

Can't see what data I missed... ...Any clues here?

It's the formations and their breakouts.

 

[guavaman]

Quote from Avi 8:

It's the formations and their breakouts.

Thanks A, but I am not as yet at the advanced stage of Formations. Just the basics (ES/YM/Volume/PRV).

 

[Tums]

Quote from guavaman:

Can't see what data I missed in reading the retrace/reversal off the 12:00 bar.

any time I see an extreme move with the close at mid-range, my red flag goes up.


If you consult the YM chart, you will see the volume dried up, then a move to reverse.


Too bad I was at lunch... missed the signal altogether.

 

[Avi 8]

Quote from guavaman:

...Just the basics (ES/YM/Volume/PRV).

The basics are all I posted.

There was no YM or even STR/SQU in this screenshot. Could one not see the right side of the market by the 1210 bar? Just using the basics?

-Mike

 

[Spydertrader]

Quote from dkm:

Spyder
I am curious as to why you did not annotate the 10:45 bar as a pt3. (see attached clip).

Visually, I felt the 20 SMA (Thick blue squiggly line) acted more like the appropriate trend line. Rather than draw in the trend line you suggest, I monitored the 20 SMA, and watched, as Price remained contained with the 'trend line' until break out later in the day.

- Spydertrader

 

[guavaman]

Quote from Avi 8:

The basics are all I posted.

There was no YM or even STR/SQU in this screenshot. Could one not see the right side of the market by the 1210 bar? Just using the basics?

-Mike

I don't see anything on the 12:10 bar that would tell me a sentiment change had occurred. Yes there is inc. black on that bar, but we are still very much in a downtrend. We just had peaking red volume. The YM had dec. black until the :10 bar and that price bar ended up as a doji. :15 bar on ES was red followed by dec. black on the :20 bar. None of this suggested change of sentiment to me. Yes a retrace, but not a reversal.

Looks like my remedial JHM course isn't working .

 

[Mr_Black]

My 40 bars.... point 3 forest was on bar # 12....