Thank you for your response, EstabanUno. I guess it stands to reason, if we are to ignore the afterhours mkt, then it would follow to also disregard holiday trading sessions as well. Regards ...
Spydertrader's Jack Hershey Futures Trading Journal
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Thank you for your response, EstabanUno. I guess it stands to reason, if we are to ignore the afterhours mkt, then it would follow to also disregard holiday trading sessions as well. Regards ...
Check here: http://www.elitetrader.com/vb/showthread.php?s=&postid=1315386&highlight=Channels+levels#post1315386
It's pretty much what the channels doc says. Spyder has his own color scheme for the levels, nothing set in stone there.
Actually you can note the top and bottom of the overnight session. (see attached, I edited my chart) It might act as a support or resistance level or have an effect on the daily range. More of a question for Jack. It was part of the pre-flight check though not sure if we're supposed to get into that at this point.
Sometimes I'll look at the overnight session to see how/if it is trending into the open, but don't use it for drawing channels.
Regards, EZ
Thanks, Ezzy - got it! "Trade" well
Hi, just some questions.
I just noticed some kind of "double" FTT (check attachment). There's one on the yellow channel and another one for the white channel. Should these be considered stronger signals?
At first I did not want to consider it an FTT because of volume issues. However, at the exact same time there was a volume peak at the 3 minute graph (see attach). Is this silly to do (switch to lower timeframe to check for volume peak) or is it ok? In this case it worked out and also yesterday there were some examples where 5 min did not show anything significant but 3 minute did. Spyder, is this something you do as well?
regards,
Ivo
I just noticed some kind of "double" FTT (check attachment). There's one on the yellow channel and another one for the white channel. Should these be considered stronger signals?
At first I did not want to consider it an FTT because of volume issues. However, at the exact same time there was a volume peak at the 3 minute graph (see attach). Is this silly to do (switch to lower timeframe to check for volume peak) or is it ok? In this case it worked out and also yesterday there were some examples where 5 min did not show anything significant but 3 minute did. Spyder, is this something you do as well?
regards,
Ivo
ivob,
It can't be an FTT of the yellow channel because FTT's only occur on the dominant travers. The yellow channel is a down trend, so an FTT could only occur if price failed to reach the left (lower in a down trend) channel line.
It can't be an FTT of the yellow channel because FTT's only occur on the dominant travers. The yellow channel is a down trend, so an FTT could only occur if price failed to reach the left (lower in a down trend) channel line.
While doing some catching up, thought it might be helpful to post the log sheet. We're not supposed to jump ahead so ignore the YM, indicators and Action section. In fact you might be better off modifying it by removing the unsed part and increasing the Analysis area for more notes.
Here is the original post (also read the next one by Spydertrader): http://www.elitetrader.com/vb/showthread.php?s=&postid=1319233#post1319233
Here is the log link:
http://www.elitetrader.com/vb/attachment.php?s=&postid=1192171
If I get a chance I'll modify it and post that later. Regards - EZ
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