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Spydertrader's Jack Hershey Futures Trading Journal
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On your posted chart you show a pt 3 at 1145. The LTL bounce was a bar earlier, looks like you had those as your pt's 1 and 2.Quote from Haroki:
...Let's take the obvious 11:45 FTT as an example. You're saying enter long here and hold through the retrace until 12:45, there's your pt3...
So you would hold through the retrace at 1210 and exit or reverse on the channel FTT at 1225 with a RTL BO exit if you were slow at 1230.
Am I reading your chart wrong?
Quote from Avi 8:
On your posted chart you show a pt 3 at 1145. The LTL bounce was a bar earlier, looks like you had those as your pt's 1 and 2.
So you would hold through the retrace at 1210 and exit or reverse on the channel FTT at 1225 with a RTL BO exit if you were slow at 1230.
Am I reading your chart wrong?
No, you're reading it right, just on the wrong fractal, I believe. My forest channel is the blue one. The black channel you're talking about would be a tree channel, I believe. Or perhaps better described as a tape with 2 VE's.
And for the purposes of my post to Spyder, I'm pretending that the (blue) pt 1 at 9:45 doesn't exist. My (blue) pt1 would be 11:45 and pt 3 would be 12:45. And the pt 2 would be at 12:20 (which I didn't add).
Clear as mud, eh?
Ok, let's not pretend, and do what the market actually tells us.Quote from Haroki:
...Clear as mud, eh?
Your blue channel pt 3 is what you are saying is an FTT. It seems someone else is 'jumping fractals'.
For the purpose of your blue channel, you would enter on the FTT at 1010, then hold through the retrace to pt 3 at 1140, then exit at the FTT at1210. If you were late and held until the next FTT at 1320, exit there or at the very latest the RTL break at 1325.
Now if we pretend then the FTT for exit came on the outside bar and new pt 3 down at 1320.
Hope this helps,
Mike
H, does this make sense? Keep it at the tree level. Your 11:45 FTT (go L) was a tree level followed by a pt 3 for that new channel at 11:55. Then next tree FTT (go S) at 12:20. Next pt 3 12:40, FTT (go L)12:45. All at same level.Quote from Haroki:
No, you're reading it right, just on the wrong fractal, I believe. My forest channel is the blue one. The black channel you're talking about would be a tree channel, I believe. Or perhaps better described as a tape with 2 VE's.
And for the purposes of my post to Spyder, I'm pretending that the (blue) pt 1 at 9:45 doesn't exist. My (blue) pt1 would be 11:45 and pt 3 would be 12:45. And the pt 2 would be at 12:20 (which I didn't add).
Clear as mud, eh?
edit: granted these trees are skinny
Quote from R/R:
H, does this make sense? Keep it at the tree level. Your 11:45 FTT (go L) was a tree level followed by a pt 3 for that new channel at 11:55. Then next tree FTT (go S) at 12:20. Next pt 3 12:40, FTT (go L)12:45. All at same level.
edit: granted these trees are skinny
Looks beautiful to me!! I can see this in hindsight, but would have trouble real time. Remember that I've only been doing this since mid June.
So I'm doing forest level right now. Unfortunately, not a great day for that IMO. Not much of a "W" or "M" yet.
Quote from Avi 8:
Ok, let's not pretend, and do what the market actually tells us.
Your blue channel pt 3 is what you are saying is an FTT. It seems someone else is 'jumping fractals'.
For the purpose of your blue channel, you would enter on the FTT at 1010, then hold through the retrace to pt 3 at 1140, then exit at the FTT at1210. If you were late and held until the next FTT at 1320, exit there or at the very latest the RTL break at 1325.
Now if we pretend then the FTT for exit came on the outside bar and new pt 3 down at 1320.
Hope this helps,
Mike
It helps a bunch, thx. And apologizes for the confusion.
I should have correctly started my Q's at the time you stated - 10:10, but arbitrarily chose the 11:45 bar. My bad.
Great point about the 13:20 exit, since it forms a new pt 3 down forest level channel. I wouldn't have thought about that.
What told you to exit at 12:10? Inside bar/SYM/stall/just had a VE/YM inside bars=hold until it breaks either way? Am I missing something?
Not at all.Quote from Haroki:
... Am I missing something?
The time should be 1225.
Now I know why Jack uses bar numbers instead of 'time'.
Mike
Edit: See what could have told you sooner than the FTT at 1225? A LTL bounce with price going higher but VOLUME not increasing. Is this what happens to keep price 'continuing' up? So now look at the YM. It showed price 'peaking' on LOWER black volume. It should make the hairs on the back of your neck stand up if you are long.
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