Spydertrader's Jack Hershey Futures Trading Journal

[Spydertrader]

Quote from guavaman:

1. Is the above information correct?

No. The First Bar of a Sym Pennant does not need to form an Outside Bar.

Quote from guavaman:

2. Is a lateral the same as a Sym Pennant just that there is no official BO of the lateral until a break of its (the OB) extremes?

A Lateral Formation starts as a Sym Pennant, but Price fails to exit the high or low of the first bar of the Sym Pennant (on bar 3). As long as Price remains within the 'shadow' of the First Bar of the Sym Pennant, the lateral continues.

Quote from guavaman:

3. To properly BO from any of a FBP or an FTP do we need a close outside the "flat" line or merely a break of either side of them?

Price needs to BO and then close outside of the formation boundaries (Low or High), as well as the high / low of the second bar of the Pennant Formation. Closing back inside the formation boundaries results in a Formation FBO.

Quote from guavaman:

4. To officially BO a Sym Pennant do we need a close outside the parameters of the second smaller bar or again just a break of its parameters?

Both.

Quote from guavaman:

5. Is there ever a second bar in any formation that is too big to draw boundaries around?

No. If the second bar of a Pennant sits one tic below the high and one tic above the low of the previous bar, then you still have a SYM Pennant. Equal Highs and equal Lows represent something entirely different, and therefore, is not a Pennant.

I hope you find the above clarification useful.

- Spydertrader

 

[Mr_Black]

My 44 bars so far...

 

[Mr_Black]

This is some samples of 2 Pair signals...

 

[cnms2]

es 15 min;

possible SCT trades (bar closing entries based on decreasing volume as signal of change):
<p><font face="Courier New">long&nbsp; @04.25
short @07.50: +3.25p
long&nbsp; @01.50: +6p&nbsp;&nbsp;&nbsp;&nbsp; / +9.25p
short @14.25: +12.75p / +22p
long&nbsp; @03.50: +10.75p / +32.75p
flat&nbsp; @13.00: +9.5p&nbsp;&nbsp; / +42.25p</font></p>
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1664700>

 

[guavaman]

Feeling more and more comfortable with my MADA and macro views of the market. I will say I was hoodwinked a couple of times like at 13:50 to 14:00 period, I thought the info was indicating an up move and then "ooops .

But as the Beatles sang, its getting better all the time .

-guava out

 

[WGTrader]

My 5min ES today.

 

[WGTrader]

Here is my 15-min ES. Oddly, I'm finding that by monitoring on a coarser resolution, I am able to see changes much clearer. For example, when observing the 15-min, I always draw the tapes. Once a point 2 is established, I know that we must get a point 3. I find that this is very helpful to confirm what I might think is a point of change or continuation. For example, if I think that we are having an FTT on the 5-min chart, but we haven't gotten our point 3 on the 15-min chart, I then will anticipate continuation. The other thing that I'm noticing, with the 15-min chart, much of the noise is smoothed out. Gaussians are much easier to see and draw. I notice that the slopes of retraces are often duplicated from earlier periods in the day as well as the channel widths. These little things help in anticipating where a point 3 may fall for example. Any comments would be appreciated. Have a great weekend everyone.

 

[spooz_trader1]

Haven't posted a chart in a while. My ES chart for the day (11/2/07).

spooz

 

[bi9foot]

Spy,

In the chart attached, I have circled an even harmonic which would mean continuation.

At what point would one have been able to decide it was change using the ES and YM?

I had reversed short on the 9:34 YM bar when it looked like the YM was not going to head higher and what looked like a FTT on the teal blue channel. When the 9:36 YM bar went higher and the even harmonic formed on the ES I was expecting price to continue higher.

I did not reverse back long and the trade worked out in my favour. But I have the uneasy feeling I missed reading something and got lucky to be on the right side of the market. At the beginning of 9:38 YM bar all signs pointed to price moving up and should have reversed back long.

I would appreciate you interpretation of the situation.

Thanks

 

[cnms2]

I agree. I noticed similar things. Also, I noticed that retraces are usually wider than traverses, and that usually retraces get steeper as the price advances through the channel.

Quote from WGTrader:

Here is my 15-min ES. ...