Spydertrader's Jack Hershey Futures Trading Journal

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Quote from guavaman:

Wondering how others handled the following scenario:

10:50 (approx) short entry and held until 11:20 when the price and vol. sequences indicated a reversal.

11:20 reversed long.

11:25 there is close just above RTL
(Pt1 = 10:40, Pt2 10:45, Pt3 10:45).

11:25 volume bar has close slightly (on my charts) less than previous bar. Not concerned as anticipating dec. volume to RTL.

11:30 bar moves up from open and then moves down to close right at 20 SMA. Hold approx. until close of 11:35 bar when convinced up move is over.

YM price and volume sequences support up move until 11:30 bar close.

Since market close I have reconfigured my channels to reflect a retrace of the initial down move and have the 11:30 bar as a (fanned out) Pt3.

I guess it was the volume pattern that threw me off because what developed at 11:20 initially seemed like a reversal rather than a retrace.

Hey Gman-

My .02, FWIW-

10:50 looked a little early to enter short, in my eyes. 10:40 was the peak, and we had what I felt was a retrace for the next 2 bars - cuz we had dec red until the 10:50 bar, then I saw, at 10:55 a stall. At 11:00 I saw inc red and would have gone short here. Then dec red 11:05/10, as it hiccups at my blue trend line, and a final inc red after it broke through and made what turned out to be my pt2 for a down channel.

The low was at the 11:15 bar, and then moved up, but ym was an iffy signal at best - honestly, I see no change to up here. Then 11:20/25 go up on clearly dec black.11:30 reversed hard on ym, a clear down signal to me, and a clear "oops" moment if I was wrong and long....

Basically, you went long on a non dom traverse, and I think you missed the stall at 10:55 which means ......... and the inc red bar at 11:00, which should have confirmed that the stall was a signal that red was now dom. Check how I annotated it. The thick red Gaus line indicates when I felt that red was dom.....

Hope that was clear, as I have a tendency to ramble sometimes.... :)
 

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Quote from TIKITRADER:

Spyder, was that you under that helmet ?

Here's an idea for you .....

Go back to the day where I made the original statement and to the post I referenced. Note that day and see if something again manifests in a similar fashion in the future.

- Spydertrader
 
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