Spydertrader's Jack Hershey Futures Trading Journal

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Hello,

There's something I don't understand here. Please note the first arrow in my chart (14:40 bar). Looked like a typical flaw to me. In fact, if this is not a flaw then what is?

I didn't see change. No FTT. So if you have a position you can only be short right??

So where did change occur?
Was it a LTL bounce? (I didn't see it....)


<IMG SRC="http://www.elitetrader.com/vb/attachment.php?s=&postid=1682241">


Also YM looked like a typical flaw to me.

It did cross my mind for a moment that 14:50 bar could be a flaw so I should be long but then my thinking was that this was just a part of the general flaw alltogether (including the 2 previous bars that makes decr. red + decr. black = continuation...)

Did the FTT occur at 14:50 bar? Not obvious to me.

For the rest it was a very interesting day for me. I was down (quite much I think) most of the day but never got worried and decided to stay concentrated and fearless, but not reckless. Caught a couple of 8-9 point moves like the one in the end and made up for all of it plus a little more. If only I learn to avoid some mistakes..

Note the second arrow BTW. Here price failed to make a point three up. Then the "real" point three up occured two bars later (third arrow). It happens often that the first point three fails. Also it happened in the morning: 11:15 to be precise.

I notice that there is not really a favorite play for me. Sometimes point threes can be very hard for me (they happen quickly) and FTT's very easy/obvious. It can also be the other way around. Other times I find taking the trade at the RTL the easiest thing to do. It all depends on the situation.

regards,
Ivo
 

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Quote from ivob:

There's something I don't understand here. Please note the first arrow in my chart. Looked like a typical flaw to me. I didn't see change. So if you have a position you can only be short right??

So where did change occur?
More...

What you refer to as a flaw represents a formation it turns out. See five posts from Spetember. Also, See attached.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1682250>
 

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Ivob, the YM FTT'd @ 14:36. The ES gave no signal for change outside of the breakout on increasing volume.

The 15:25 bar ran into pretty strong resistance at 1456. I exited after I saw it failed to break that resistance.
 
Quote from Spydertrader:

What you refer to as a flaw represents a formation it turns out. See five posts from Spetember. Also, See attached.

- Spydertrader
More...

Ok, thank you. I will review these posts.

I think somewhere halfway 14:55 bar I should have known the short was over.... Also because 14:55 shows an square odd harmonic + price went up quickly on incr. volume. Then it crossed the high of the previous bar meaning we could not have another square odd + of course the BO.

I was quite convinced price would continue down at that very bar but it did exactly the opposite right at that moment. This is enough reason to be out. (or long)

Still not the easiest part of the day.

regards,
Ivo
 
Quote from FerdinandAlx:

Ivob, the YM FTT'd @ 14:36. The ES gave no signal for change outside of the breakout on increasing volume.

The 15:25 bar ran into pretty strong resistance at 1456. I exited after I saw it failed to break that resistance.
More...

Thanks.

I noticed YM. However every YM bar had increasing red until then. I just expected a small pause and while monitoring each and every bar actively I got no indication of change.

Indeed breakout on incr volume was the (last) clue I guess.

regards,
Ivo
 
Spyder,

I am still giving this a shot. I have not given up.

This is another try at identifying whether a day is an " M " " W " or neither, and possibly knowing this in the first three bars at open.
You gave me a lead, and I keep working at it.

If this is wrong again, Do I get a "B" for effort? :D
 

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