Spydertrader's Jack Hershey Futures Trading Journal
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.Ok, I find myself questioning whether I've built these channels correctly or not. CNMS2 commented that tapes and channels cannot be constructed properly without volume as a context, and I'm thinking he's right....
Here's a fundamental question:
When you construct a nes pt. 1 to pt. 2 tape (which also creates the first leg of a new channel), do we HAVE to see increasing volume?
meaning, every single 1-2-3 sequence must exhibit rising-falling-rising volume?
I see some of the channels I've made have falling-rising-falling volume, which could be wrong... I don't know.
RoughTrader
Here's a fundamental question:
When you construct a nes pt. 1 to pt. 2 tape (which also creates the first leg of a new channel), do we HAVE to see increasing volume?
meaning, every single 1-2-3 sequence must exhibit rising-falling-rising volume?
I see some of the channels I've made have falling-rising-falling volume, which could be wrong... I don't know.
RoughTrader
Here is how the ym daily chart looks now.
100 day m/a is yellow line. 50 day is purple.
edit- I think on a daily chart a few more bars would be a better pennant.
Annotated that pennant at eod yesterday just to see how it would play out
100 day m/a is yellow line. 50 day is purple.
edit- I think on a daily chart a few more bars would be a better pennant.
Annotated that pennant at eod yesterday just to see how it would play out
ES November 6 2007
The YM was giving me a dozen signals during those 70 minutes. I had reversed on the FTT on the 13:55 bar but didn't manage to turn that trade into a profitable one as I reversed a couple of times during the market action that followed. It's a good thing the closing rally more then made up for it.
Quote from guavaman:
The period from 13:55 to 15:05 is about as tough a period as I have seen on the ES. oooofff!
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