YM chart
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Spydertrader's Jack Hershey Futures Trading Journal
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I had a couple of questions with my attached ES chart. First, as you can probably tell by the volume levels, I had not rolled over to the new quarter. Is there a general rule to follow on when to rollover?
The second question I have is regarding some of my channels - specifically the dark purple, white and olive channels. I noticed that these channels where absent from Spyder's channels. I wanted to get clarification whether this was due to resolution level (trees instead of forest) or because I incorrectly drew wider channels that do not have significance.
Any other comments, of course, are also welcome.
Thanks,
-A
The second question I have is regarding some of my channels - specifically the dark purple, white and olive channels. I noticed that these channels where absent from Spyder's channels. I wanted to get clarification whether this was due to resolution level (trees instead of forest) or because I incorrectly drew wider channels that do not have significance.
Any other comments, of course, are also welcome.
Thanks,
-A
Attachments
Missed point 1 of the down channel and waited for point 3.
Noted the wall and FTT on the retrace. This was a very late entry due to the PRV volume. I was not convinced that the volume would support the resumption of the dominant trend. When volume came in on the next bar entered short.
The 1:45 bar was on extremely low volume flagged as flaw and held. Exited when red volume continued to decline during the 1:50 bar.
Video: http://et.pr0crast.com/bi9_12172007_trade2_edit.avi
Noted the wall and FTT on the retrace. This was a very late entry due to the PRV volume. I was not convinced that the volume would support the resumption of the dominant trend. When volume came in on the next bar entered short.
The 1:45 bar was on extremely low volume flagged as flaw and held. Exited when red volume continued to decline during the 1:50 bar.
Video: http://et.pr0crast.com/bi9_12172007_trade2_edit.avi
Attachments
see second answerQuote from Atari:
I had a couple of questions with my attached ES chart. First, as you can probably tell by the volume levels, I had not rolled over to the new quarter. Is there a general rule to follow on when to rollover?...
Thanks,
-A
http://www.elitetrader.com/vb/showthread.php?s=&postid=1713615#post1713615
http://www.mypivots.com/articles/articles.aspx?artnum=10
there are 9 pages to the article.
click on Next Page >> to read more detail.
Trade going long on point 3 entry with BO of down channel
Exited when YM was showing change.
Video: http://et.pr0crast.com/bi9_12172007_trade3_edit.avi
Exited when YM was showing change.
Video: http://et.pr0crast.com/bi9_12172007_trade3_edit.avi
Attachments
Quote from guavaman:
I have the 10:35 bar creating a lateral formation that lasted until 11:35. Incorrect?
From a 'purist' point of view, Price on the 10:45 AM bar broke the High of the 10:35 AM bar. Therefore, one would not annotate a Lateral Formation here. However, Price (at 10:45 AM) also closed back inside the boundary formed by the 10:35 AM Bar. As such, one could 'see' this price action as lateral movement. As a result, we have lateral movement but not a lateral formation. For the purposes of differentiating continuation or change, however, the difference probably represents one of semantics. One could choose to hold in both situations.
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