Hi baro, thank you for reviewing my work, i see it now lol, i'm definitely missing something fundamental to be operational, it always makes sense when others annotate but when it comes to produce logical annotating in real time i'm kind of lost.
I have trouble understanding some concepts, see in the attached image coming from the Price/Volume relationship thread, it feels like it says you can't draw a tape if the volume isn't increasing, and i don't remember seeing such a thing...
I also have some trouble with the X2X 2Y 2X tenet, Spyder clearly stated that this is the way any fractal completes, i have no problem conceiving that such a sequence can happen intra-bar at the fastest level, but isn't the first pink BBT(?) you drew on my chart a lot longer than that ?
The way to review older threads is to pay attention mostly to spydertrader's posts, and even those need to be read having in mind that spydertrader was on a learning and refining curve too. Only Jack's posts are the ones that kept providing pieces of the same information over and over with almost no changes, just bringing over time new ways of presenting it from a different perspective.
Names like bbt, tape, traverse, channel have different meaning to different persons, but you have to keep in mind that the purpose of the method is to monitor the market so that you can analyze what's happening, and be able to make a pertinent decision how to act (enter / exit / hold).
All the annotating has no other use than to make you trade profitably. That's why, independently of the nomenclature you're using, you should be aware of what's happening on three fractals, of which you trade the middle one. The slowest one gives you context; the fastest one gives you precision. In Jack's view, for advanced traders, the middle one is the "traverse" level, or "point to point" (p1 to p2 to p3 to ftt). For beginners the trading level is "channel", or "ftt to ftt". The "channel" is the first visible fractal on which the "pattern" is visible (x2x2y2x). Other people use different conventions, but keep in mind that you have to be able to make timely daytrading decisions. Spydertrader recommended that beginners make decisions only end of bar. That reduces precision and profits, but diminishes the possibility of making costly errors. After all, end of day annotations are made on completed bars only.
Not sure how to answer your question about longer bbt. It is probably a matter of the fractal you want to describe.
I don't think that the picture says what you mention. It was not spydertrader's, so it was somebody else's interpretation at that moment on his learning curve. As you see, that person used different definitions for tape, traverse and channel than some people on this thread.
This thread seems to use a variant of the method invented by Jack, translated for the wider audience and refined by spydertrader, but it is not a method publicly supported by neither of them. This doesn't mean in any way that it can't be used in a profitable way. It's just you probably won't find much support for it in older threads, and you will probably find info that seems to contradict it.
Eventually you'll probably end up trading your own variant of the method.
