[DbPhoenix]

While days appear to be discrete, they are in fact the result of everything that's gone before, even though the details may not be immediately apparent. Therefore, an intraday setup can and usually is the result of something that's happened the previous day, or even the previous week. The "30m" display is for consolidation only. A 1m chart would show the same thing, only with 30 times more bars. And it would of course be much wider. As to the overnite, sometimes it matters and sometimes it doesn't. If in doubt, plot a CVB chart. In this case, the CVB chart and the time bar chart are the same (if you have a potential hinge, plot both; it's important to know whether or not volume is declining during the formation of the hinge).

As for being late, the test occurred pre-market, and not everybody wants to enter trades then, even if they can. In any case, the immediate hinge may stop out the trader who's trading tight. And even if he has a wide stop, he may not be comfortable sitting there and waiting throughout the hinge (the perfect scenario works out only in hindsight). He may elect instead to exit and stand aside until the market decides what it wants to do.

As for entering at the apex of the hinge, that is an option ("no supply" is VSA, and I'd rather not get into anything having to do with VSA), but since there has already been one attempt to take price down and another attempt to take price up, both of which were faded, the trader may want to wait until the market has shown its hand. In this case, waiting for the volume -- i.e., the professional interest -- makes it a much higher-probability trade. I should also point out that your green dot is placed at a point which is shortly before the close, and not everyone has the cojones to enter such a trade at such a time.

[wasp]

Originally Posted by Kiwi »

Apologies for thread integrity ... Wasp, here are the pictures, first of channels which I personally prefer to trendlines for displaying trend integrity and second of 3 line fans for potential trend change.

With channels I started off with andrews babson but ended up using the left hand side to define the slope for the right hand side.
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Hi Kiwi,

First up, nice charts! Who do you use?

interesting charts. Are they all self drawn lines? Who is Andrew Babson? Does he mind you using him!?!!

Whilst I can see what the lines are telling you, I can't tell how you'd use them specifically?

Prey tell............

[firewalker]

Originally Posted by DbPhoenix »

I should also point out that your green dot is placed at a point which is shortly before the close, and not everyone has the cojones to enter such a trade at such a time.

True, that's why I was hypothesizing "if this were an intraday chart"...

[firewalker]

Price hovering at resistance (13030).

[wasp]

Shorts eyed with a solid TL break.

[wasp]

Is there such a thing as free intraday YM futures charting? I have cash on metatrader but would be good to follow you guys and watch the movements...

[firewalker]

Originally Posted by wasp »

Is there such a thing as free intraday YM futures charting? I have cash on metatrader but would be good to follow you guys and watch the movements...

http://www.cbot.com/cbot/pub/page1/1,3248,432,00.html

Only one week left before they remove it though...
It's your mission to find something similar! Let me know when you do.

[wasp]

I have this atm...