Spydertrader's Jack Hershey Futures Trading Journal
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Hi cums2,
I think if one has the need to look at lower fractal chart besides the fractal he's trading on, then he IS unconsciously trading the lower fractal.
This is somewhat different than monitoring the 2min YM for 5min ES. because I believe when spyder and others say "YM leads ES", they don't mean "2min chart leads 5min chart". It is just an unique correlation between YM and ES we can utilize at the point of change, and the "lead" won't become "lack" if we use 5min YM instead.
Same as using 1 or 2min ES, it won't give any useful information for 5min bar trading except noise, it pushes us to check 2min YM way too often than needed, and eventually pull us down to a deep rabbit hole we won't be able to come out and miss out everything useful in the pig picture.
Unconsciousness always win, unless we realize it and make it consciousness .
It's just my 2¢.
Regards.
Ericta
CNMS2
1445 bar Analysis
On the 5 minute 1445 bar - Inc Red PRV and the low of the 1440 bar taken out.
But the 1 minute bar analysis shows that
aproximatly 55% ( 5.2 k shares 1446 Bar / 9.5 k shares of the 1445
5 minute bar ) vol came on the 1446 INtra Bar R\/G ( ie. INC GREEN
PRV ).
My final analysis is that we really did NOT have an increase RED PRV on
the 1445 bar since over 55% of the volume occurred during the 1446
Up move.
Is this your point ? Am I thinking correctly ?
Thanks for your help !
1445 bar Analysis
On the 5 minute 1445 bar - Inc Red PRV and the low of the 1440 bar taken out.
But the 1 minute bar analysis shows that
aproximatly 55% ( 5.2 k shares 1446 Bar / 9.5 k shares of the 1445
5 minute bar ) vol came on the 1446 INtra Bar R\/G ( ie. INC GREEN
PRV ).
My final analysis is that we really did NOT have an increase RED PRV on
the 1445 bar since over 55% of the volume occurred during the 1446
Up move.
Is this your point ? Am I thinking correctly ?
Thanks for your help !
You definetly have to make the effort to trade on your fractal of choice, but you can also use whatever tools help you. I keep visible a sliver of the es' 1 min chart just to help me better judge the last couple of bars activity: decide if an end of the bar is a point of a new tape, split the intra-bar volume between up and down, and such.
I don't do such calculations in deciding if the bar is part of a green or red, up or down gaussian. In this particular post, I've included the 1 min chart just to show the volume activity inside the 14:45 bar, because we don't have now access to the PRV information.
On the other hand, when I see a bar like that 14:46 bar that had a long wick down, I usually judge it as a red volume, even if it is the last bar of the red part of the gaussian. It doesn't matter much where it opened, where it closed, or what color my charting application painted it.
There are no hard numeric rules, you have to draw and think what makes sense, and not get caught in rigid rules that could lead you astray.
On the other hand, when I see a bar like that 14:46 bar that had a long wick down, I usually judge it as a red volume, even if it is the last bar of the red part of the gaussian. It doesn't matter much where it opened, where it closed, or what color my charting application painted it.
There are no hard numeric rules, you have to draw and think what makes sense, and not get caught in rigid rules that could lead you astray.
Quote from cnms2:
I see the 14:35 bar as an FTT in the green channel and as a Pt1 of the red channel. I don't know what you mean by "spike/reversal" ...
Agree absolutely that it was a FTT/pt1. Your analysis is confirmed by subsequent bars.
But put yourself back at 14:40 (see attached ) . Without knowing what comes next, what would you see the :40 bar as? < 50% of prev bar's volume, think flaw of dom traverse (up-as determined by previous inc black), right? And so a continuation of the up move. It didn't work out that way though.
A spike/reversal bar is, I believe, one way how an odd harmonic manifests itself. To be clear about why I'm asking all this, if this IS an odd harmonic/spike/reversal bar, then I need to brush up on recognizing harmonics. An area that made my eyes "glass over" when I was studying it.
This is important to me cuz I seem to notice 1-3 of these every day, where a trader on the tree level ( my next level of proficiency) would want to "hold long" through this flaw, only to get smacked when the subsequent bar breaks the channel. Recognizing this odd harmonic - if I'm correct in identifying it as such - would have gotten you out a pt earlier....
As a note, the flaw recognition worked for the 14:10 bar.
That's exactly why I post my previous message.
I found additional lower fractal very harmful for beginners like me. it kept me from learning the real thing. But everyone's progress is different, I might be way behind yours and glad you find different fractal analysis truly useful for your trading. I'll try 2 fractal again later after I master the slower one.
BR
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