Iterative Refinement
- Thread starter Spydertrader
- Start date
Can anyone tell me why one of these is a traverse and one is a channel? The trivial answer that the traverse is completing a downchannel does not address the real reason but merely states the obvious. This isn't a quiz or a rhetorical question, simply because I don't know the answer. This was Spyder's penultimate chart chart and still uses LM's and the "P" notation, both of which were dropped in his final posting of 2-3-09. I mention this because it shouldn't be necessary to use these aids to come up with the answer. I have backed off my 'channel carryover fixation' and so this question has nothing to do with that.
Following R/R's useful input yesterday, I have tried to take the two things he said (one of which, like guava, I'd never come across before)and apply it to figuring out when a tape becomes a fftraverse and how these species are incorporated into the construction of a complete 5 min ES traverse. But me still can't 'see' WTF is the difference between the heliotrope and forest green constructs or likewise what the heliotrope and dark blue constructs share to make them both traverses.
IMO, looking back at what Spyder has posted and trying to understand what certain, selected features mean will be more fruitful than simply posting EOD charts.
lj
Just speaking for myself, I find rhetorical questions (from Wikpedia: Rhetorical questions encourage the listener to reflect on what the implied answer to the question must be.) , in whatever form, to be singularly useless as a teaching tool. There is a tacit assumption that the person asking such a question 'has the answer' and while in some cases this may be true, more often than not it isn't, and thus just adds to the lack of understanding. So if someone is going to answer my question with a rhetorical one, please spare me. Speak your mind and stick your neck out.
Following R/R's useful input yesterday, I have tried to take the two things he said (one of which, like guava, I'd never come across before)and apply it to figuring out when a tape becomes a fftraverse and how these species are incorporated into the construction of a complete 5 min ES traverse. But me still can't 'see' WTF is the difference between the heliotrope and forest green constructs or likewise what the heliotrope and dark blue constructs share to make them both traverses.
IMO, looking back at what Spyder has posted and trying to understand what certain, selected features mean will be more fruitful than simply posting EOD charts.
lj
Just speaking for myself, I find rhetorical questions (from Wikpedia: Rhetorical questions encourage the listener to reflect on what the implied answer to the question must be.) , in whatever form, to be singularly useless as a teaching tool. There is a tacit assumption that the person asking such a question 'has the answer' and while in some cases this may be true, more often than not it isn't, and thus just adds to the lack of understanding. So if someone is going to answer my question with a rhetorical one, please spare me. Speak your mind and stick your neck out.
Guava: see if this chart looks familiar. As I recall, we discussed these in NY. If these tapes weren't steepened it would have change the breaks and also the place we look for change. In fact, the 10:35 acceleration to complete the Traverse sequence wouldn't have been annotated.Quote from guavaman:
Rick,
This is news to me.
Rick,
As you pointed out in the snippet, 25% of the tapes you referenced do not fit the guideline you stated yesterday. I took as copious notes as I was capable of in NYC and managed to miss the remarks about only drawing tapes, or accelerated tapes, to price bars that have increasing volume which also have closes outside the previous tapes. Even if I did, the example in your snippet would have caused confusion.
In researching the matter yesterday and today,I find several examples on Spyder's charts that also do not match that guideline as well. I am certain there is a subtle difference of something that would explain the seemingly odd tapes, but wouldn't ya know it, the explanation escapes me.
Lj,
As you are undoubtedly aware, three traverses make up a channel. Now what is the make up of those traverses, i.e faster fractal or Pt3 or some combination thereof, has again to my knowledge, never been defined. As is usually the case however, this probably means it is widely known by everyone else.
For me, I have abandoned trying to ascertain when a channel is formed and focus only on understanding the creation, construct and change of a traverse and let the channels be what they are.
Guava: I have observed in general from Spyder's charts, that once a tape is started from Pt1 to the next bar, he would only steepen the tape when a bar with increasing volume whose close is outside the original tape's LTL appears. He would start the steepened tape from the earliest possible bar.
Similarly, he would fan, or flatten a tape to include a bar with increasing volume when it continues in the direction of the tape, again starting from the earliest possible bar. There appears to be some discretion used with IBGS bars considering location of close. Also OS bars, and double tops and bottoms present exceptions.
Discretion is also used if a tape's trend is continuing with bars of decreasing volume and flattening slope. If a fan is required to contain the closes and reasonably represent the "acceleration" or "deceleration" sequence of price - it was done.
Any other observations, comments, or corrections are certainly welcomed.