Iterative Refinement
- Thread starter Spydertrader
- Start date
Not so much thoroughly, but correctly. This is a distinction with a big difference.
In order to have a correctly annotated chart - in real time- you have to understand completely what every single bar of a given day is saying. One can have so many lines that the bars themselves are obscured, but that means very little. More importantly you can very easily lose as much money as you would if you didn't draw a single line.
I bring this up for those poor and perhaps unwitting souls who are somewhere in the beginning of their journey. Try to divine for yourself the meaning of each type of bar,keeping in mind always where one sits in the sequence and you may someday find some level of success.
Very nice analysis romanus. IMO, there are other ways to understand what transpired but yours is particularly clean and anticipatory.
A question about spike bars for you or anybody else. Is a doji (neutral, dragon fly or tombstone) a spike bar? Are there other things like the volatility (H-L) of the doji, the pace (volume) associated with the doji or its position in a tape that make it a spike bar?
For the sake of discussion let me take the position that all dojis are spike bars. It is the ultimate low money velocity bar.
lj
Sometimes there's things you jest gotta find out for yourself. So it's time for this red-headed stranger to mosy on. For whatever reasons at the age of 11 my hair turned bright red for about 1 year and then reverted back to its usual brown. Have much less of both these days but always wondered whyTF that happened.
Thank you Jack, Spyder and all thread denizens and to the newbs a small word of advice - be a munchkin and annotate your tapes. It's a very good place to begin.
lj
Thank you Jack, Spyder and all thread denizens and to the newbs a small word of advice - be a munchkin and annotate your tapes. It's a very good place to begin.
lj
... pen FBO ?
I don't follow your logic, but as long as it works for you ... 
I guess the short answer to innersky's question is: there's no [Spydertrader's es 5 min traverse] change signal to go long in that area.
The increasing volume spike bar is a "faster fractal" weak signal of change.
- if you don't go long on the spike: 1st & 2nd black bars are pen BO's => hold short, the 3rd black bar is jokari change to short on multiple fractals, so don't go long here either
- if you go long on the spike: same logic brings you back short at the 3rd black bar's closing, or when the subsequent bar breaks its low, or the up tape RTL, whatever your confidence level is