Iterative Refinement

Quote from innersky:

I thought that incr red after a retrace was enough to get the pt3 confirmed?

Do we first need decr red?

--
innersky
More...

No, you are getting confused. We need decreasing red then increasing red in order to form our r2r that ends at p2. We also need increasing red after p3 in order to confirm the p3 of the short traverse.
 
Quote from innersky:

chart.

Can someone explain why the 10:35 bar (decr red volume but closes lower than previous bar) and the 10:45 (incr red volume but close inside previous bar) aren't change (jokari)?

--
thanks

innersky
More...

Remember what Spyder says about the 'rules' pointing to something, not being the thing itself. Those were just internal hiccups that happened to show up on the 5 minute bar because the waves of price movement didn't happen to correspond to it. The overall wave motion - advance, retrace, advance, was nevertheless there.

- palinuro
 
Quote from Gregor_S:

@innersky

I’m currently monitoring only ES 5 min chart, for a better understanding of WMCN – so I did not see what was happening on YM.

As I saw it, the area between 10h and 11h was a down traverse starting at 10h, forming a pt3 at 10.20 and then creating VE as time moved on. The bar at 10.35 was a lower low on higher V (and a VE), so for me it was a sign for continuation down, with no indication of change yet (even though the price closed inside the previous bar). Now if it would have been an IBGS closing above open, then I would be monitoring PRV and price on the next bar anticipating change.
More...

Indeed you are correct, it's no IBGS, so that leaves only 1 confusing bar :)


--
thanks
innersky
 
Quote from innersky:

chart.

Can someone explain why the 10:35 bar (decr red volume but closes lower than previous bar) and the 10:45 (incr red volume but close inside previous bar) aren't change (jokari)?

--
thanks

innersky
More...

Actually, I think that the 10:35 bar is a flaw.

--
innersky
 
You must log in or register to reply here.
Back
Top