Time Periods and Mechanics

[Trader Question]

*** Yes absolutely. As we opened a fair way into daily support I decided to wait for an up cycle to get long. I anticipated it would be somewhere between EB and the (weak) dotted line. There where a couple of times that the flow appeared to shift and I got long. With that hindsight I was clearly being premature, something you put your finger on in your penultimate email.

The second question about buying support is related I guess. I find if I wait for the change in flow to really exert itself or a Yes pattern to be really confirmed that it is much harder to buy the LTP support.

N.A.

[pldot]

++++why?

[Trader Question]

*** I mean that support might not be offered. This is because by the time the flow has really shifted the bar that confirms this more often than not has closed in resistance. This would likely be between EB->dot, the final 'phase' of a change of flow is a close above the dot. If this is the case and you get a trend reverse you might not be offered support. I guess the question is buy as close to the dot as possible or wait for LTP action to try and buy close to the dotted line

N.A.

[pldot]

If ltp is in a TR up, then you enter at dot, or live dot, or etop of LTP as strength of trend indicates... basically, getting aboard in a trend...

[Trader Question]

This is because once it it is clear that the flow is shifted (through) support holding the price almost by definition is moving on up.
+++so? then just buy 4000tk support....

Perhaps I should wait longer and be sure that the LTP bar I am buying is firmly in support even if that means waiting for a couple more bars
+++no, not wait for more 4000tk bars, one in new flow is ample, then buy in 4K support...

By then the flow change should be very apparent. One problem I see there is buying the LTP dot to ET as it enters congestion dealing with FTP.
++++that would be buying resistance, no? Bad, Bad.

Didn't describe that well, I would much more likely be buying Eb -> Dot. sometimes the close of the bar that confirms flow change could be above live ET if price turns up fairly quickly or bands have tightened as trend stalls.

N.A.

[pldot]

There is always support, and you can always wait to buy in support. Don't buy resistance. End of story...

[Trader Question]

I think I am OK at detecting changes of flow. I think the problem is I see a change of flow of a lesser time period (by watching time and sales or a LLTP chart). Perhaps I should just close these, lower time period tick charts do a great job of showing support and resistance levels and confirming which P&L lines are 'active'. However perhaps they distracting me from sensing the flow of my LTP. If that is so then I guess they should go.

N.A.

[pldot]

following very low time periods can certainly lead to tickitis, a disease of which you show a few symptoms .....

[Trader Question]

BTW do you tend to wait for the live bar to close before making your flow decision. Obviously you cant help but look at the live bar (turn off the monitor?) but do you prefer to see the close confirming a change then enter in the next bar support? I am thinking waiting for bar to close to analyse flow might help my 'prematureness' problem.

N.A.

[pldot]

yes, it might help. Certainly at the beginning of a new bar keep in mind that you are at the beginning of a bar and not near the end, and thus a lot can happen therein... and at the end of the bar, know that you are there and thus relatively little can happen in the short remaining time...