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Tick chart orientation
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Created: by worldwary Attachments:61

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Tick chart orientation

  #71 (permalink)
Elite Member
Williamsburg, VA
 
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Just got a short signal on retest of SMA after downside breakout.

-----------------------------------------------------

"If you must forecast, forecast often."

-- Edgar Fiedler
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Tick chart orientation-ym-june-22-sixth.jpg  
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  #72 (permalink)
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Taking profits here, looking to reenter at next touch of SMA.

-----------------------------------------------------

"If you must forecast, forecast often."

-- Edgar Fiedler
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  #73 (permalink)
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Got the reentry. Short again.

-----------------------------------------------------

"If you must forecast, forecast often."

-- Edgar Fiedler
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  #74 (permalink)
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Okay, I am done for the day now. Here's a pic showing how the rest of the afternoon shaped up.

I was stopped out of one of those shorts at the worst possible time, the high tick of the bounce. The exit was according to my rules (inner envelope) so can't really complain, but it's annoying to miss a good move by one tick. It's a game of inches, as they say. Caught another downleg at the next touch of the SMA so a pretty decent day overall.

At this point it's near the close, the move is getting extended, and I don't want to press my luck with any more shorts.

Hope this is helpful to show how these setups play out in real time. I probably won't have time to post this frequently very often.

-----------------------------------------------------

"If you must forecast, forecast often."

-- Edgar Fiedler
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Tick chart orientation-ym-june-22-final.jpg  

Last edited by worldwary; June 22nd, 2011 at 04:53 PM. Reason: Correct typo in attachment
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  #75 (permalink)
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Worldwary -- nice day, and thanks for the annotated charts.

TempletonPeck -- Is the channel in your chart above made the same way that WW is making his charts (that is, x number of ticks from MA)? If so, what is the name of the channel indicator? I can't seem to re-create WW's channels in NT with the indicators I've seen available.

Thnx

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Haverchuck View Post
Worldwary -- nice day, and thanks for the annotated charts.

TempletonPeck -- Is the channel in your chart above made the same way that WW is making his charts (that is, x number of ticks from MA)? If so, what is the name of the channel indicator? I can't seem to re-create WW's channels in NT with the indicators I've seen available.

Thnx

You can find the indicator I use in the elite download section.
https://futures.io/free_downloads/vip_elite_circle/812-download.html?view
Yes, you can plot a channel x number of ticks away from different MAs.

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  #77 (permalink)
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I use a built-in Moving Average Envelopes indicator for Tradestation. On my YM charts I have three of them up at about 10, 12 and 14 ticks from the SMA.

-----------------------------------------------------

"If you must forecast, forecast often."

-- Edgar Fiedler
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  #78 (permalink)
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The key question for today is whether this will be a trend day, or whether the bulk of the selling has already occurred overnight. Watching for signs now.

The first test of the upper envelope reversed right around the outer envelope. On a trend day I'd normally expect the bounces to reverse before that point, so maybe not a classic trend day setup so far. Will watch next test for further signs.

-----------------------------------------------------

"If you must forecast, forecast often."

-- Edgar Fiedler
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  #79 (permalink)
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I tried a "probing" short on the next retest of the upper envelope; got stopped out for a loss of 8 ticks.
An uptrend appears to be forming here but based on larger trend, I'm not comfortable with long trades today. Will
be looking for short trades, expecting a retest of the lows.

-----------------------------------------------------

"If you must forecast, forecast often."

-- Edgar Fiedler
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Tick chart orientation-ym-june-23-2d.jpg  
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  #80 (permalink)
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We got our retest of the lows but I missed my entry. Typing these real-time posts doesn't help.

Will reload and look for next "sell high" opportunity; won't chase at the lows.

-----------------------------------------------------

"If you must forecast, forecast often."

-- Edgar Fiedler
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Tick chart orientation-ym-june-23-3rd.jpg  
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