Iterative Refinement

[ehorn]

Quote from guavaman:

As we are both incorrect, the prospect of correcting the mistake appear slim

I am not certain as to the correctness (or value) of my thinking but I have attached some notes. I am still working on that certainty thing.

P.S. I notice some of your price bars are colored differently than the corresponding volume bars. Do you know why is this?

 

[Spydertrader]

Quote from ehorn:

I am not certain as to the correctness (or value) of my thinking but I have attached some notes.

On your attached chart, one can see a channel. One can also see a Traverse form at the EOD. The market forms a channel in very specific ways. Given what is known, one should have the ability to annotate the unknowns. Work backwards if need be.

- Spydertrader

 

[Daxtrader]

Quote from charts:

... and this

Thanks dude!

so basically i have to draw the next channel with point 1 being the previous channel's FTT after there is a BO. correct?

 

[palinuro]

Quote from guavaman:

As we are both incorrect, the prospect of correcting the mistake appear slim

My take on the big picture from yesterday.

- palinuro

 

[Spydertrader]

Quote from Daxtrader:

so basically i have to draw the next channel with point 1 being the previous channel's FTT after there is a BO. correct?

Give a man a fish .....

- Spydertrader

 

[ehorn]

Quote from Spydertrader:

On your attached chart, one can see a channel. One can also see a Traverse form at the EOD. The market forms a channel in very specific ways. Given what is known, one should have the ability to annotate the unknowns. Work backwards if need be.

- Spydertrader

Thanks Spyder, Is this thinking closer to the mark?

 

[PTVtrader]

Quote from ehorn:

Thanks Spyder, Is this thinking closer to the mark?

if your right, then what do you think of this?

 

[palinuro]

Quote from PTVtrader:

if your right, then what do you think of this?

That's almost the 'fudged' lateral I had intraday - I had pt3 of the up traverse the previous day, and started the lateral on the bar 4 OB, just moving the upper line out a bit later in the day.

At this point it again seems the most accurate representation to me. On the 15 minute it draws itself.

- palinuro

 

[R/R]

Quote from PTVtrader:

if your right, then what do you think of this?

I agree and was drafting this just before your post

 

[guavaman]

Quote from ehorn:

P.S. I notice some of your price bars are colored differently than the corresponding volume bars. Do you know why is this?

Yes I do. It has to do with the software package i have.