Quote from Steve Tvardek:
Had a nice aha moment just now, I'm watching the ym and spot FTT at 11:32 bar, followed by pt 2 at 11:40 bar and pt 3 at 11:46. Ok got my channel. Now I am watching ES and spot the FTT before it happens at 11:35 bar. find my pt 2 and 3 on the next two bars. Then comes the aha moment. On YM I see price test (actually slightly break) my LTL on 11:54 bar. Next bar is red dominant volume but price does not really go down. I think to myself, if we are going to get a retrace, it should be on non dom volume back to the RTL. Instead I see dom volume. I think I must be seeing a flaw. I then think to myself that I am anticipating a volitilty expansion on the ES (as I continue to monitor what YM does in conjuction w/ the ES). Sure enough, price ticks in one or two ticks and then shoot up strongly.
Although I dont know how to fully identify a falw, what I saw on YM bar at 11:56 seemed different. I'm not sure if my analysis is correct but the market gave me info that I used to anticipate what would happen next. Felt real good
