Spydertrader's Jack Hershey Futures Trading Journal

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Quote from Avi 8:

Look at the first three bars today versus the first three bars of a W/M day. Just the ES bars only. What are the differences?
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Ok, one more take at this. . .

W / M days volume exceeds 25,000 on any individual , or all of the first three bars.

Days that fall into the neither category have volume less than 25,000 on average on any individual, or all of first three bars.

Thanks Avi 8 on the feedback on ES daily, and a great post on your look at what is taking place on daily.
 
Quote from TIKITRADER:

ES daily bar close is at the right trendline of the major down channel.
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strong reversal bar here... may head back down to 1400s

this is a guess of course... could also rocket to 1600 on a breakout

thanks for posting the daily charts, interesting to watch anyway
 
Quote from RoughTrader:

My thinking is that some of these channels in the progression have to be overlooked for trading decisions, otherwise we will be drawn into a level of resolution that demands those additional tools.
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Bingo. One does not need to derive a signal from every channel on the chart. A trader only need monitor for continuation or change on their correct resolution level. If one chooses to monitor at all resolution levels, then one must choose the appropriate tool to recognize the signal for change. I encourage everyone to start using the end of the bar in order to place themselves in the 'correct' mindset. Once accomplished, the next step becomes to understand what sequences develop on the way to the close of the bar which allows the trader to know before the close of the bar whether the market has signaled continuation or change.

- Spydertrader
 
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