Spydertrader's Jack Hershey Futures Trading Journal

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Spydertrader,

If you have a "tape" in place and you are looking for a pt 3, does price BO'ing the taped RTL on increasing volume eliminate you from looking for pt 3 for a legitimate channel?
 
There is no volume here, that makes a big difference for understanding whats going on. I dont think we can read this w/o the volume.

Quote from Tums:

Brain teaser for the weekend:

A few days ago I posted a Tape/Pt3 diagram. Some people PM me wanting to see more.
http://www.elitetrader.com/vb/attachment.php?s=&postid=1628956

Here's a quiz for you.
I am sure you have seen the following situation. What signals you would have noticed along the way?

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1630816">
More...
 
Here's a quiz for you.
I am sure you have seen the following situation. What signals you would have noticed along the way?
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I would have noticed increased red volume @ rtl.:D
 
Quote from New Amsterdam:

If you have a "tape" in place and you are looking for a pt 3, does price BO'ing the taped RTL on increasing volume eliminate you from looking for pt 3 for a legitimate channel?
More...

A Point Three of what? A channel? A Traverse? A tape? As always, a chart or a drawing helps to clarify your question.

- Spydertrader
 
Quote from New Amsterdam:

There is no volume here, that makes a big difference for understanding whats going on. I dont think we can read this w/o the volume.
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GOOD Observation !

The quiz is designed for you to add whatever signal you think would fit the situation.

You can get your paint program out and add the "desired" volume.

Enjoy.
 
Quote from callmate:

Here's a quiz for you.
I am sure you have seen the following situation. What signals you would have noticed along the way?
----------------------------------------------------------------------------

I would have noticed increased red volume @ rtl.:D
More...

ME TOO!!! :D... Similarly. I would have seen and labeled the one bar FTT as a PT3 instead of PT1 and then noted the previous PT2 as a simultaneous PT1 of the new channel. In any event, definition wise, I regard a tape as having a several sequential bars where every bar is either or both a full traverse and/or retrace...
 
When you start experimenting with reversing its a bit exasperating because of all the washes, small losers and winners which happen when you are not proficient at identifying the ftt's as they happen which causes you to give back much of what you gain but you also find that you are catching all of the longer moves. You are in a good spot then as all you can do is get better.
 
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