Trying to make a checklist for myself of flaws. I would appreciate some feedback/ input. I'll paste it in and attach a word doc so if people feel inclined they can change/add to it and reattach it. It is a work in progress. I'd also like to mention some of the chat logs can be very helpful. Monday was very enlightening for me.
http://www.elitetrader.com/ch/DigiC...t/20070611.html
Spyder broke down some valuable sequences. Today also had some good stuff in it.
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This could be embarassing but I'm sure we can improve it. Some of this is copied from Spyders comments in the chat room.
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FTT: Volume decreasing but >60% of previous bar. Price changing color to non-dominant. Look for after volume expansions or flaws. Riskier to trade the steeper the channel.
FLAWS: All flaws have less volume than an FTT and are frequently followed by an FTT. Lateral price moves with price exiting the same direction it entered unless an FTT occurs. 40-60 % of the previous bar volume your brain should move to flaw instead of FTT.
Dip: pullback in price on decreasing volume with larger volume bars on each side. Bowl shape price and volume. Could be 1-4 bars.
Hitch: Low range and less volume than an FTT, usually opposite color of the trend and 2-3 ticks long.
Stall: Similar to hitch but more intrabar volatility, Expect post price and volume to be similar to bars preceding the stall.
HVS: Typically longer duration, 3-4 bars or more with decreasing volume of oscillating color. As it extends out in time all sorts of volume changes develop and it turns into a CCC.
CCC: Decreasing volume and price volatility over extended period of time. ES volume below 2500, YM volume below 200-250.
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If anyone is reviewing the chat logs, and finds some Spyder gems, I for one would find it extremely cool if you could post them here. These real time clues are pricelss, IMO.
http://www.elitetrader.com/ch/DigiC...t/20070611.html
Spyder broke down some valuable sequences. Today also had some good stuff in it.
_____________________________________
This could be embarassing but I'm sure we can improve it. Some of this is copied from Spyders comments in the chat room.
-----------------------
FTT: Volume decreasing but >60% of previous bar. Price changing color to non-dominant. Look for after volume expansions or flaws. Riskier to trade the steeper the channel.
FLAWS: All flaws have less volume than an FTT and are frequently followed by an FTT. Lateral price moves with price exiting the same direction it entered unless an FTT occurs. 40-60 % of the previous bar volume your brain should move to flaw instead of FTT.
Dip: pullback in price on decreasing volume with larger volume bars on each side. Bowl shape price and volume. Could be 1-4 bars.
Hitch: Low range and less volume than an FTT, usually opposite color of the trend and 2-3 ticks long.
Stall: Similar to hitch but more intrabar volatility, Expect post price and volume to be similar to bars preceding the stall.
HVS: Typically longer duration, 3-4 bars or more with decreasing volume of oscillating color. As it extends out in time all sorts of volume changes develop and it turns into a CCC.
CCC: Decreasing volume and price volatility over extended period of time. ES volume below 2500, YM volume below 200-250.
-------------------------------------------------------
If anyone is reviewing the chat logs, and finds some Spyder gems, I for one would find it extremely cool if you could post them here. These real time clues are pricelss, IMO.
