Spydertrader's Jack Hershey Futures Trading Journal

Status
Not open for further replies.
YMU7 2 Minute, Understanding even harmonics has been a little bit challenging for me. Spyder gave me advice on using a process of elimination that I want to strengthen. In this chart of 2 min ym, I have two yellow highlighted areas. The first is what I think is a lateral ccc. The thought process, I have in my channel at 12:02 what looks like an ftt. Now I am looking for a non dominant traverse, when, at 12:06 I notice equal lows and low volume .12:08 bar closes with equal highs to previous bar. 12:10 bar closes with equal highs to 2 previous bars and equal lows to the 12:06 and the 12:04 bars, again low volume. I now draw my lateral channel and the analysis seems easy ( low volume lateral ) , must be ccc. The second, is what I think is an hvs. The thought process, It starts with a breakout at 15:10 on high volume to the downside, out of a small green upchannel that started at 14:56. The 15:12 bar closes equal lows to previous bar. I now am looking at an ftt. Close of the 15:14 bar and I am now looking at equal highs to previous bar.Also, now looking at volume ,I notice alternating volume color bars and decreasing volume. Need to do a process of elimination to see what this is ( or is not ). Do not have all low volume- scratch ccc off list. Do not have low price volatility-- eliminate hitch off list. The 15:12 bar does not form a bowl type of shape,it has equal highs to the 15:14 bar. I am now crossing off a dip from the list. This now leaves me with a stall and an hvs. A stall should be showing signs of returning volume , and volume is decreasing. I really don't know at this point if I am correct about a stall . I am still not good at the process of elimination, but trying . . . 15:16 bar closes. price now has returned to equal previous lows of 15:10 and 15:12. volume is even lower and has formed alternating colors while decreasing. Stall is off list, because volume would have had to increase. HVS ! only thing left. looking at price it had entered from above and down into the lateral. I should be thinking down.15:18 and down on increasing red. I think I am starting to understand even harmonics, but realize, I need lots of improvement. Please feel free to tell me if I am wrong here, it is the only way I can learn. Thanks Spyder for taking the time to clarify this and walk me through the thought
process.
 

Attachments

I would like to share a compiled screenshot of the wall that occurred during bar 50 (13:35). It contains two snapshots (13:37:30 and 13:38:00) and the volume increments sent by IB during this period.

My description:

After a possible FTT (bar 46) and a possible PT3 (bar 49) at a larger RTL (brown in Spyder's chart): a double wall forms at what could be a possible new faster tape pt3 (short). Some lots (332) go into the wall (long), and the inner wall gets pulled. More lots (910) go away from the wall than into it (0) over a period of 20 seconds. A single lot goes into the wall and more trades go away from wall. The tape continues and it seems the wall helped the move; then VE, FTT, BO and Retest of RTL (of tape) (bars 52-55).

Best Regards,
 

Attachments

My apologies in reference to my last post on even harmonics. Starting the day at 1pm, I had begun my trading day. The ccc was a lateral even harmonic that I walked through in hindsight analysis. I wanted to share the bar by bar thought process to better understand the lateral movement, that I may be corrected if I am wrong in the analysis of the harmonic. The hvs took place in realtime and it is how I really felt, at that moment, and processed the bar by bar action. I began the elimination of flaws, one by one, to narrow down to the last. It is greatly appreciated if any mistakes were made in the recognition of these flaws, that I can receive advice on how to better analyze them in the future.
 
Looks spot on to me, but also looks like the HVS turned into a CCC.

Quote from TIKITRADER:

YMU7 2 Minute, Understanding even harmonics has been a little bit challenging for me. Spyder gave me advice on using a process of elimination that I want to strengthen. In this chart of 2 min ym, I have two yellow highlighted areas. The first is what I think is a lateral ccc. The thought process, I have in my channel at 12:02 what looks like an ftt. Now I am looking for a non dominant traverse, when, at 12:06 I notice equal lows and low volume .12:08 bar closes with equal highs to previous bar. 12:10 bar closes with equal highs to 2 previous bars and equal lows to the 12:06 and the 12:04 bars, again low volume. I now draw my lateral channel and the analysis seems easy ( low volume lateral ) , must be ccc. The second, is what I think is an hvs. The thought process, It starts with a breakout at 15:10 on high volume to the downside, out of a small green upchannel that started at 14:56. The 15:12 bar closes equal lows to previous bar. I now am looking at an ftt. Close of the 15:14 bar and I am now looking at equal highs to previous bar.Also, now looking at volume ,I notice alternating volume color bars and decreasing volume. Need to do a process of elimination to see what this is ( or is not ). Do not have all low volume- scratch ccc off list. Do not have low price volatility-- eliminate hitch off list. The 15:12 bar does not form a bowl type of shape,it has equal highs to the 15:14 bar. I am now crossing off a dip from the list. This now leaves me with a stall and an hvs. A stall should be showing signs of returning volume , and volume is decreasing. I really don't know at this point if I am correct about a stall . I am still not good at the process of elimination, but trying . . . 15:16 bar closes. price now has returned to equal previous lows of 15:10 and 15:12. volume is even lower and has formed alternating colors while decreasing. Stall is off list, because volume would have had to increase. HVS ! only thing left. looking at price it had entered from above and down into the lateral. I should be thinking down.15:18 and down on increasing red. I think I am starting to understand even harmonics, but realize, I need lots of improvement. Please feel free to tell me if I am wrong here, it is the only way I can learn. Thanks Spyder for taking the time to clarify this and walk me through the thought
process.
More...
 
Quote from Pr0crast:

Looks spot on to me, but also looks like the HVS turned into a CCC.
More...

Pr0crast, Would I view the 15:18 through 15:24 bars as my ccc based on the volume ? I should be aware of the channel of ccc and watch for its b/o? or what I should be saying , looking for continuation? . . . I think I just answered myself. Thanks Pr0
 
Status
Not open for further replies.
Back
Top