Quote from The Swordsman:
How does one buy the 12:50 FTT bar?
The answer depends on what resolution level one trades. Does Str / Squ factor into your sweeps? Do you trade both Dominant and Non-Dominant Traverses? Do
Intra-bar changes give you signals for change? Do you monitor DOM, OTR and T & S? Do you
stick to your chosen resolution level, and do you know if you
should (not
want to) trade on that level?
Quote from The Swordsman:
PRV was increasing red higher than peak volumes on the last trip to new lows intrabar (12:50 bar) in the channel.
Yet, the bar still managed to close on the upside. Perhaps, what you felt (viewed) indicated all selling Volume included a few buyers as well?
Quote from The Swordsman:
Out of nowhere, price just shoots up.
Nothing ever happens "Out of Nowhere." People miss things, or fail to anticipate an important news item, but 'surprises' aren't on the menu here.
Quote from The Swordsman:
I cant see guessing if the FTT is true (IE actually getting long) because vol certainly was strong to the downside.
I can't 'see' guessing either, but it certainly appears that is the path you've chosen here, or at minimum, you've allowed influences of the past to alter your thinking. See next parse for an example.
Quote from The Swordsman:
Then, we get a double bottom put in but the only way you could have bought that DB (13:00 bar) and gotten a reasonable price is to have already had buy limits floating and then had them hit as price swept down so fast. Less than a second later, price was up 1+ pts.
Double Bottom? You have an HVS here which forms a lateral channel. Lateral Channels show the market in a stage of Even Harmonics (See Jack and PointOne's posts). Some, may even have viewed the action as a series of Dips. Either way, the signal, at some point, becomes a crystal clear example of
Hold.
What you call 'FTT's never provided the sequences of "What
must come next?" In addition, the first Volume Bar after peak Volume fell right at the level where we normally see 'Flaws' materialize. Flaws which we
did not have as an example since forming the Point Three of this down channel.
If we choose to go monitor the YM during this time period, we receive an even clearer picture of what develops. The YM Stays nearly Flat (with the exception of the Pennant BO) and then returns to Dominant down)
Quote from The Swordsman:
I realize that these FTT's did not lead anywhere as far as the long side is concerned but we cannot know that beforehand.
You don't
need to know beforehand, but you
should know, "What
must come next?" You should also know Where you are, and Where you've been. When "What
must come next?" - Doesn't - then you have a "What wasn't that?" - or as some like to say - WTF!! Really, it isn't this difficult.
Did you have
change on your trading resolution level? If so,
change means take action (which action depends on the resolution). If you didn't have change on your resolution level, then the market requires
no action on the part of the trader. Did you take action when you should not have been? Did Price cross a "line in the sand?"
Lastly, if the market moves too fast for you (for whatever reason: broker connectivity, exchange latency, trader reaction times or high level news event), then
stop trading at that resolution until such time that you
can see and react appropriately.
Quote from The Swordsman:
Also, those who are just watching and drawing channels and not looking at the DOM and placing orders, thats a whole nother beast altogether. The sheer speed of some of these sweeps is insane. You literally have less than a half sec to make a decision sometimes.
Again, for some, that half second is all that is required. For others, significantly greater amounts of time are needed. Trade where you front run the heard, not where you follow it.
- Spydertrader
Getting close to April.