Spydertrader's Jack Hershey Futures Trading Journal

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We also have a major <B>HOURLY</B> up channel that would be breached to the downside if we close hourly below 1410...

or strong up side if we hold it and close with a solid hourly volume bar up... with a dominant up channel...
 
LOL I also got the short signal at 1422 (by the time I got in) and covered at 1416.25 a little early but not complaining.

Also caught some of the Point #3 move off of new upward channel that was created after the above mentioned move was over at around 1416.50 and covered at 1417.50.

Looks like we have a new breakout at 1417.75...

Quote from EdgeHunter:

Ye Freaking Ha...

I was stopped out of the first small Tape Channel up but it took the point 3 down elevator at 1422.75 (June) with the piped in music blaring Ride Sally Ride all the way down to the breakout of the interior down channel of the major down dominant channel at 1415... with a few minor scale outs along the way each time the NYSE Tick dropped thru the floor...

Many times when i needed action i kept clicking my <b>HOLD</b> button which pacified my need to do something...

I Channel Therefore I Am...

:)

cj...

HAVE STOP <img src="http://www.enflow.com/p.gif"> WILL TRADE
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My chart for this morning, got the first and second FTT right.

No problems today taking points out of the market.

My bias is still up (until the next FTT) because we see price going down in the last hour on decreasing volume. If I understand well this does not happen in a down channel because in a down channel we need increasing red volume.

regards,
Ivo
 

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Quote from optioncoach:

Actually we are up over the last hour since 11:30 on decreasing volume...
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Well, we are both right IMO. I am talking about last half hour, sorry. We are up on decreasing volume actually since 10:20. But then I saw increasing volume and price going up at 11:30 - 11:45 and now we are retracing since then (price decreasing on lower volume). Of course I may be wrong but that's what I see.

regards,
Ivo
 
Quote from Mr_Black:

My ES chart till noon.....:cool:
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That last FTT I did not consider an FTT. Because we had a breakout IMO we should be looking for point 2 and a point 3.

regards,
IVo
 
We are undulating higher since the 10:30 AM low and a sharp move lower on strong volume from this currnet tree channel which started at that 10:30 AM low could present a real nice short tree entry which I am gonna watch closely....

uh oh it could be happening as we speak perhaps, 20 EMA at 1418.50 providing support but if we move below it on volume, look out belowwwwww
 
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