Wyckoff's Monster

green.green said:
Can some explain why there is a noticeable difference between the same channel drawn on different time frames? I'm including a daily and a 4 hour chart. More importantly - when determining the mean of the channel should which chart is king?
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As a quick thought, could the daily chart skip the trades that are outside of the regular trading hours? (RTH)

Edit: Seems like the values are different hence why your channels lines aren't at the same values as per my original thought.
 
green.green said:
Can some explain why there is a noticeable difference between the same channel drawn on different time frames? I'm including a daily and a 4 hour chart. More importantly - when determining the mean of the channel should which chart is king?
More...

Chaos theory. Small changes in initial conditions have major implications on the end result :)

I believe when it comes to means, the idea is to locate 'zones' rather than precise levels. Of course, when it comes to High's/Low's a precise level is easier to determine and more valid because of it's likely psychological importance.
 
green.green said:
Can some explain why there is a noticeable difference between the same channel drawn on different time frames? I'm including a daily and a 4 hour chart. More importantly - when determining the mean of the channel should which chart is king?
More...

Sierra chart gives a reason for this similar question
http://www.sierrachart.com/index.php?l=doc/helpdetails34.html

Ultimately it is all about scale, pixel size and different date/time precision etc, and I dont think there is much you can do about it......but I am no expert on it.

As an aside - check out this fascinating subject that is somewhat related -----ever wondered about the real relative land sizes in the world.Before checking the link How big do you think the USA is compared to Africa?
Greenland compared to Europe?
the northern Hemisphere compared to the southern hemisphere?

http://www.petersmap.com/table.html
 
Here is the 5000 tick chart of the NQ. It has the same channel drawn on it as on the hourly of various SLA threads. We exceeded 3415 without collapsing. Perhaps it is time for a visit to the other side of the mean?
 
Here is the 5000 tick chart. We are in an uptrend. The top of the channel is around 3545. The mean is at 3477. We have been ranging from 3513 to 3504 with a test or yesterday's high.

The play is to watch the range and see which way price exits. I would not be surprised by a deeper pullback before price resumes its travel upward.
 
Here is a look at where we are this morning. The mean is at 3475 and the top of the range is at 3545. We briefly broke below the DL and broke a swing low. We already tested the mean yesterday however and even though we seem to be struggling to move higher the LOLR is up. If we fail to make a new high and break below 92 then we may return to the mean. Currently buyers are in control and price is going up.
 
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