Spydertrader's Jack Hershey Futures Trading Journal
- Thread starter Spydertrader
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Hey Spyder..
Had a few questions about the 11:35 bar. For some reason I am finding this bar fascinating
. I am going to try not to mix my resolution levels here, but it appears to be a VE on all but the finest fractals. For the tree level, which is where I attempt to stay, I am having a hard time finding a signal for change. I have ruled out a LTL bounce due to the bar closing higher than the open, and it seems like price just walked out of the blue channel. More likely this is an example of when a formation (lateral in this case -- see earlier attachment) becomes 'an additional signal for change' per your post on Oct 1st?
VE on decreasing volume (both green channel and wide gray channel) => change
FTT (gray tape) => change
A good amount of this bar's volume was red.
I don't understand your comment: "I have ruled out a LTL bounce due to the bar closing higher than the open ..."
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1678400>
FTT (gray tape) => change
A good amount of this bar's volume was red.
I don't understand your comment: "I have ruled out a LTL bounce due to the bar closing higher than the open ..."
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1678400>
not to be dismissive, but if 'high' volume is averaging < 10k per 5min bar, there has to be something better to trade
To navigate this pace level effectively, you need to be an expert, and experts dont ask how to navigate channels ... otherwise, you dont have access to a tool that will give you anything other than a HOLD
best advice was from cnms2 ... stay out until volume picks up
I was not aware that a VE on decreasing volume was a signal for change on its own. Perhaps its a domino, but I think you will find yourself on the wrong side of the market more often than not if you reverse on a VE that has a little less volume than the preceding bars. I do not trade FTTs on tapes, to stay on the correct resolution.
As for the LTL bounce, I am making the assumption that typically these will have a close lower than the open (with a long wick on top) in an uptrend
I guess the practical application of my question is when do you reverse? .. surely not as soon as you realize the VE is on lower volume. I can find 5 examples of these that did not result in change today
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Sorry for the basic questions but...
Why is the 2:20 pm bar NOT an FTT of the blue or olive channel on Spyders chart?
I see price moving higher on decreasing volume...almost the same situation we had at the 10:10 FTT this moring...
What am I missing?
Thanks in advance
Thanks to the helpful advices from spyder and others, I was NOT trading at those difficult areas ( luckily ).
But just curious. does anyone here reach the sufficient expertise level to navigate those difficult period and be so kind to demonstrate the moment and the tool which gives you the clue?
Don't worry about if the rest of us can or can not understand / use it, just bring it on. Appreciated.
I'm ready to move on to the next finer tool set ( DOM and 2 pairs ), but before I start, I'd like to know if it solve my problem in particular. if not, I'll stay refining my ES/YM/SS, and spend more time to study if1if2 and APA, aka the wash skill.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1678282>
Thank you.
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