Iterative Refinement

Quote from callmate:

Drill Time

What can make a point 1?



Where does the 'change' happen for a new channel direction?

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A bar extreme.

At the DOM wall, a 2-pair has evolved into a spike as the minority takes control and price ticks in the non-dom direction (left becomes right), very near to the extreme right end of a bar that was, until very recently, extending in the dominant direction with increasing volume. All this can be seen on a 5 minute bar, the finer tools are there just to look cool. :cool:
 
Quote from cnms2:

On the other hand, your past few days' posts didn't provide a good seed for discussion, and you also seemed to be happy with your assessment of WMCN did or not, which I found to be too vague and at a certain degree counterproductive to learning.
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Just posted daily chart with WMCN to hopefully start to get a better understanding of everything.
Any feedback is great, because I don't want to be predictive on a daily. Only to see bar by bar signs of continuation and change.

I should have added that when I posted, I did not and may have caused confusion.

As far as being wrong and have it posted, I am not embarrassed, have done it many times and learn from feedback.

I know I see things different than the next person so I would be more than happy to explain what I did and why, and if wrong thats ok, that is why I post.
I did attach quite a few daily charts that can be expanded and just did not every time. I can attach all on posts.

Hope to gain from this discussion and continue with posting daily for a better understanding of continuation and change.
 
Spyder,

Could you please confirm that I'm using the correct logic for volume bar colors? Thanks.

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Quote from ericta:

Hi Tiki,

I think your last black tape serves no purpose for daily chart trading. what makes you think pt3 up has been established? Is it from intraday price action?

ericta
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Hi ericta,

That tape is just to contain price after it exited the down channel it was in. No point three at all. I just put it there to see where the next daily bar forms.
 
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