Spydertrader's Jack Hershey Futures Trading Journal

[ericta]

Quote from Spydertrader:

I apologize for the delay in responding. I wanted to locate some nice examples before providing an answer.

With respect to Odd and Even Harmonics, we

...

Tools

STR / SQU often provides an extremely clear signal for change during periods Odd Harmonics. DOM Wall locations often provide early clues to periods of Even Harmonics.

I hope you find the above information helpful.

- Spydertrader

It has been 3 month since the post, anyone has "aha" moment on this?
I don't have it, but here's my understanding and this is what I'm looking for on the chart. please advise if I'm wrong.

for S/S, I'm look for opposite direction pull/push during the ftt intra bar traverse;
for DOM, I locate any significant wall on both sides in advance to see if the price
oscillate in between the boundary.

Thank you

 

[mephistoII]

I'm sure everyone already knows this, but it provided a 'palm to the forehead' moment here, as the lagging student continues his constant reviews

snip from early Spyder post ... The YM provided both change and continuation data in advance of the ES. However, we still see the slowing of pace on the ES as an impetus to go and look at the YM.

 

[Pr0crast]

Quote from PointOne:

4. How do you find the happy medium between hyper over-analysis and complete disinterest? (i.e. how do you get yourself into the state of optimal performance versus arousal.)

Can you even verbalize what you do?

P1- not sure if you were addressing me, but I find "optimal forest performance" when listening to audio books (or courses). It allows you to focus the bored, antsy part of your mind on something else while keeping your eyes trained on the chart so as not to actually miss a setup. Then if things get exciting or you feel you are approaching a possible "action point," you can pause the book and refocus.

 

[dkm]

The link below is to a video clip of what I saw as an FTT at 15:26:12 @ 1454.00 . At the point of decision we also had a square odd harmonic. Within one minute is became clear that it wasn't an FTT. I would be interested to hear at what point in time others felt that an FTT was invalidated.

http://www.sendspace.com/file/ajwv3a

 

[Mr_Black]

Quote from dkm:

The link below is to a video clip of what I saw as an FTT at 15:26:12 @ 1454.00 . At the point of decision we also had a square odd harmonic. Within one minute is became clear that it wasn't an FTT. I would be interested to hear at what point in time others felt that an FTT was invalidated.

http://www.sendspace.com/file/ajwv3a

It is clear from your video that YM leeds ES...... for me this is more like Taped FBO on YM followed by continuation of the down move on ES....

 

[TIKITRADER]

Quote from dkm:

The link below is to a video clip of what I saw as an FTT at 15:26:12 @ 1454.00 . At the point of decision we also had a square odd harmonic. Within one minute is became clear that it wasn't an FTT. I would be interested to hear at what point in time others felt that an FTT was invalidated.

http://www.sendspace.com/file/ajwv3a

Hey dkm,

For myself I was not concerned that the 15:26 ES bar was a possible FTT.
The reason why is, I had viewed that period of time as a tape channel down , that had not been broken out of yet.

So , it was a continuation of the large down channel on a forest level, and I would not be concerned till the tape at the time was broken.

The ym is in a tape channel down that would continue until 15:42, at which time it breaks the tape down channel on a intrabar gaussian shift..

This FTT of the ym Tape at 15:42, and the FTT of the ES at tape at the same time was more of a concern for change in the future to myself.
That would end the Dominant traverse tape, and begin the non dominant retrace.

I want to point out that at 15:26, the only thing I had, was a tape down channel , dominant traverse, that was not broken at the time.

So Forest level continuation, for myself at the time.
Just my view at the moment, not to suggest that it is the correct view.

 

[dkm]

Quote from TIKITRADER:


The ym is in a tape channel down that would continue until 15:42, .....

Thanks for the feedback. I see the ym tape being broken at 15:30 on reducing volume, suggesting a new pt3 short channel. (see attached clip). I had concluded that the FTT was invalidated by 15:27, due to the increasing red prv.

As a rule of thumb, I believe I am correct in thinking that identification of an FTT at tree level would usually involve entry before the tape RTL is broken, providing that prv supports the entry, which it appeared to do at 15:26.

 

[dkm]

Here we have the moment which I thought I saw the FTT (and square odd harmonic, for good measure).

 

[cnms2]

As decision point, I use the BO of the end of the previous bar in conjunction with the tape RTL BO.

dkm, it seems that you made your decision even before breaking the tape RTL. Too early ...

Quote from jack hershey:

An FTT on level 3 is and FTT on level 2 and the FTT on level 2 is an FTT on level 1. what follows an FTT on level 1 is a BO of the level 1 RTL...

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1598128>

Quote from dkm:

Thanks for the feedback. I see the ym tape being broken at 15:30 on reducing volume, suggesting a new pt3 short channel. (see attached clip). I had concluded that the FTT was invalidated by 15:27, due to the increasing red prv.

As a rule of thumb, I believe I am correct in thinking that identification of an FTT at tree level would usually involve entry before the tape RTL is broken, providing that prv supports the entry, which it appeared to do at 15:26.

 

[TIKITRADER]

Quote from dkm:


As a rule of thumb, I believe I am correct in thinking that identification of an FTT at tree level would usually involve entry before the tape RTL is broken, providing that prv supports the entry, which it appeared to do at 15:26.

I didn't mention one thing, that is important to the decision to of a bar forming with prv.
On a clip just posted by cnms2 , look at the last bar forming on the YM . I think it is the 15:26 bar.

As prv is entering the picture, although it is a black bar, look at the close of the bar and the prv affecting the close.

At first,The bar opens and heads higher.
Then prv is increasing, and the close of the bar starts to pull back from the highs. As the prv continues, the close will move farther away from the highs ,and the bar will turn red.
Prv continues ,and the bar will close well off of it's highs.

I like to look at the dynamic close of a bar as prv enters . It helps to see the intention of the price at the moment.