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ES 5 min 20080807

Spyder, thanks for posting today's chart. Any particular reason why you did not annotate the 4 bars 10:45, 10:50, 10:55 and 11:00 (eob) as lat movement? Was it invalid to do so? (Circled on attached clip). Thanks

ES 5 min 8/6 traverses shown in green and fuscia channels in bold red and blue Usual disclaimer....

This is what I have so far. Usual disclaimer.......

When I suggested that 11:45 and 11:50 begin a new traverse, and 11:50 was a pt2, Spyder's response was "no". :(

I had something very similar to this on my first attempt but when I suggested that a new traverse was starting around 11:45 and 11:50 was pt2 and the reason for holding, Spyder said this was wrong. http://www.elitetrader.com/vb/showthread.php?s=&postid=2011455&highlight=dkm#post2011455 On...

Thank you for the detailed explanation. However, this reasoning would also lead to a hold on the 11:20 bar on 7/18 because it also lacked the required increase in black volume after the lat bo. The attached clip shows that bar marked as an FTT and completion of the green traverse.

My clip shows p1 at 09:55, p2 at 10:10, and p3 at 11:40. Is that not a 1,2,3 "tape, lat, tape" sequence?

clip from 7/18

I am still struggling with this problem from 7/29. Both examples show a lack of increasing black volume after the lat bo bar, but 11:20 on 7/18 was an FTT whereas 11:50 on 7/29 was a hold. Both lat bo bars form a pt3 of a traverse. The only differerence that I can see is that the lat bo bar...

so far...

As I understand it, a lateral (formation or movement) exists until price breaks out. There has never been a requirement for p1, 2, and 3 or tapes inside a lateral. Hence the absence of annotations inside a lateral traverse. Someone please correct me if this is wrong.

Always. http://www.elitetrader.com/vb/showthread.php?s=&postid=1657342&highlight=mandatory#post1657342 Break on decreasing Volume must fan, but break on increasing Volume can fan. - Spydertrader

Right now I don't know if I am annotating correctly or incorrectly. In all likelihood I am probably reinforcing bad habits but, then again, how could I tell?:confused:

with the benefit of hindsight...

FWIW

The bo at 11:45 today was the beginning of a new traverse and 11:50 was a pt2, hence a hold.

Sorry, not sure if I understand what you are referring to. Are you asking me to compare the bo bar at 11:15 on the 18 July with 11:45 today?

Yes

Yes I see it clearly now. I think I have been staring at charts for too long.........