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cnms2
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Everything posted by cnms2
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Filtertip's question about that FTT brought to my memory this drill submitted by jbarnby over an year ago: where that container ends, and why?
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When day-trading, the RTH pace trough affects your analysis. During the midday hours additional faster fractals can be observed. Volume slopes that span over several hours are affected. Money making velocity changes. Your chart doesn't follow the bar coloring recommended for this method.
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Don't forget the RTH pace.
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I eventually understood the point of controversy: is this a tape / traverse / channel? I believe this not to be the point of the drill, and that how you annotate the snippet doesn't depend on the answer to that question. As we all know, the price-volume relationship as well at this method work on any time frame, so on any sufficiently large chart snippet we'll see at least three fractals named tape / traverse / channel, or L1 / L2 / L3, or whatever. On this annotation drill snippet we can see the three fractals, and even more. We should annotate the snippet in the same way independently of what time scale it uses: from the fastest observable fractal building up the slower ones. I quickly annotated three fractals: gray / purple and blue / medium weight purple, to illustrate my point.
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No it is a down traverse. Follow the link to Spydertrader's post for the discussion of the drill.
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By testing if one can correctly identify the exact bar that ends the medium line down container in real time, without having the benefit of seeing what followed. One can correctly annotate the snippet (the medium line down container), without knowing what happened before it started. I believe that in his reply Spydertrater was saying that one can anticipate that the snippet won't accelerate down and its dominance by analyzing the context, and he didn't say that the snippet cannot be annotated without the benefit of more information than what he originally posted.
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This is a nice annotation drill to check your fractal jumping propensity
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A slightly different view (green and purple RTLs and gaussians, orange laterals).
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Bar closing at left of LTL (see Jack Hershey).
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Added a few notes to SK0's purple and green trendlines.
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. .
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Clean Page 1 :
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Jack's chart and point-to-point trades for Dec 10.
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Context: as volume shows the red / black overlap barely ended, and even considering the pace drop expected during this part of the day (12:30 EST), the increasing black volume to point 2 is still to come. On a finer level, the red stitch with increasing volume just broke the lateral's boundary. For easier communication, I'd recommend referencing the bar number as Jack does (#1 to #81).
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If you get a "Jack Hershey" search results page, it's what I intended to point to. If you don't, just go to the ET's home page, click the "search" button, then search for "Jack Hershey" 's posts.
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I highlighted the FTT trades on the blowup of the RTH portion of the chart.
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I recommend following Jack's posts, and ask him precise questions. He posted this chart today:
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I don't use the standard annotations circulated in this thread, so posting my charts as they are would raise too many questions, maybe even confuse some readers. I post only when I have something that I believe might be of use to another poster, something that doesn't cause an argument. If you don't want me to comment on one of your posts, just add a note about this, or please ignore my posts.
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I annotated a little differently that area (on your chart).
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Per Jack Hershey: All inside formations have the same rules. The first bar is always processed. the second or sunsequence bar(s) is NOT processed if smaller in volume than the first. If NOT, then it is processed. For out side bars, they count as two bars in a trends sequence. THe first value is done as usual. The second value is simple: it is the NEXT value in the trend sequence.
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Happy Thanksgiving! .
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Trends overlap. On the left side of the RTL you're in the trend. So there's an area where you're on the left side of both the winding down old trend, and the emerging new trend. Annotations are a matter of what tells you more, but should be consistent. In your example, the long trend's VE causes 2 additional moves that could be annotated as part of either trend, but the short trend being stronger the M2 shows falling volume.
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Jack "knows that he knows". Remember: he doesn't know what the price will do; he just stays always on the right side of the market, in the present.
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Today Jack posted his trades for the first part of the day. See if they fit your tapes: bar1 short bar 5 long bar 9 short bar 17 long bar 22 short bar 29 long bar 32 short bar 36 long
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When you annotate and analyze a chart (MAda) you have to remember that trends overlap, so there'll be a group of bars where you can see the old trend fading while the new one is gaining strength. The picture is affected by what's happening on several other fractals than the one you're trading, and in the context of step changes in the pace during the day. First attachment is a superposition of mr_black's chart over Jack's money velocity diagram. In the second attachment, I added a few annotations to the volume pane, to emphasize the overlapping of the fading red trend with the rising of the black trend.