Spydertrader's Jack Hershey Futures Trading Journal
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In general, I don't see a great deal of consistentcy regarding this matter. I see a whole bunch of different combinations of volume patterns through a 1-2-3 tape sequence.
Fore example, at the beginning of the journal, Spyder discusses how to distinguish between a hitch and FTT on January 4. He uses the attached image as an example.
If you take a look at the opening 1-2-3 formation, you'll notice that pt. 1 to pt. 2 has decreasing to increasing volume, which is still ok.
But pt. 2 to pt. 3 starts with increasing volume, then decreases, then increases again, all in the same tape.
If anyone would like to chime in, feel free.
RoughTrader
I found that period pretty tiring I should have had a snooze. The bigger picture was a little clearer (non dom traverse back to the main right hand channel for the day). I marked that whole segment as red declining though it could be argued that volume was flat.
Despite that I found myself mis-reading at the tree level just before the break. Foolishly I allowed that to cloud my judgement until I synced back up as things became obvious again.
Note to self - when in doubt go with the bigger picture
Despite that I found myself mis-reading at the tree level just before the break. Foolishly I allowed that to cloud my judgement until I synced back up as things became obvious again.
Note to self - when in doubt go with the bigger picture
Fractals ... Fractals ... Fractals ...
What you see is the superposition of sentiment sinusoid like waves of sentiment. See the P V AD diagram.
Your monitoring fractal acts like a filter that integrates faster fractals. From the sentiment fractals you can see, the faster ones will show sine waves at tape level, and the others at larger and larger channel levels. For the larger fractals you have to eye ball their effects.
courtesy of makosgu
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1668890>
What you see is the superposition of sentiment sinusoid like waves of sentiment. See the P V AD diagram.
Your monitoring fractal acts like a filter that integrates faster fractals. From the sentiment fractals you can see, the faster ones will show sine waves at tape level, and the others at larger and larger channel levels. For the larger fractals you have to eye ball their effects.
courtesy of makosgu
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1668890>
Your chart shows a Sym Pennant Formation. If you choose to go back and review the discussions at the time (wise advice already handed to you), note how Formations did not enter the discussion until September. Now, armed with information on Formations, you can then determine how best to use that information. As others have already advised, you might find this process easier by learning the methods themselves first. ETLurker found automating in such a fashion quite successful.
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