ST, I saw what i thought was an odd harmonic (12:20/25 bars )but then next bar spiked up above the highs. What did you see and what would you do in this situation?
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Spydertrader's Jack Hershey Futures Trading Journal
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Quote from Churn2Learn:
Here, this is what I got at 11:36am on YM on esignal. Maybe esignal is different from your chart.
And on your chart ....
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1493907>
The market does provide an example of a Sqaure Wave Odd Harmonics.
Quote from Steve Tvardek:
ST, I saw what i thought was an odd harmonic (12:20/25 bars )but then next bar spiked up above the highs. What did you see and what would you do in this situation?
The Market formed a flaw at the point (specifially, a Dip). Flaws generate an overriding signal cancelling out Harmonics (Remember, we hold through flaws).
- Spydertrader
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Quote from Steve Tvardek:
ST, I saw what i thought was an odd harmonic (12:20/25 bars )but then next bar spiked up above the highs. What did you see and what would you do in this situation?
I have attached as snip the 12:20 and 12:25. Both bars are inside of the 12:15 bar, are they still considered an Odd harmonic (if we ignore the fact that they form a Dip)
I was under the understanding that the bars would have to stick out side of the prior bar (like a actual double top or bottom).
I am trying to understand the nuances of the harmonics.
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1493940">
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Quote from bi9foot:
(if we ignore the fact that they form a Dip)
This is like saying, "If we ignore the fact that we just had an FTT, why did the market turn?"
When Odd Harmonics are part of flaws, we take action (according to our resolution level) based on the flaw and Not the perceived Odd Harmonics example.
- Spydertrader
I'm finding that when I use it correctly, the DOM adds a very unique level of comfort to a trade. When I'm at a gaussian trough, perhaps a potential PT3, and an 800 vs. 80 wall forms underneath the PT3, its very comforting getting an entry that almost negates the spread. Also makes a lot of washes a lot more obvious if an opposing wall forms.
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