Iterative Refinement

Does anyone have a good link to explanation of outside bars in regards to how we interpret them within our channel, PV context..

I need a thorough refresher.
 
Quote from Spydertrader:

Begin to think in terms of Dominos Falling and mentally watch them fall as you anticipate the future as it moves into the Now. Price breaking higher on increasing black PRV would then continue to move higher. A change intra-bar would first manefest itself when Price moved off its extreme forming a 'spike' bar, and next creating an Intra-bar Gaussian shift, and then, if Price continued to move opposite of its original direction, Price would break the opposite extreme - creating an Outside Bar. Volume continuing to increase while Price moves opposite of the dominant Volume represnts one of the first dominos of change. Follow the dominos from there.

- Spydertrader
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This is the ESH8 daily chart I last posted on 3/13/08.


http://www.elitetrader.com/vb/showthread.php?s=&threadid=113310&perpage=6&pagenumber=272

I had copied the lines onto ESM8 from ESH8, and just realized I formed a steeper channel from the point three from end of December to now.

So today the daily bar may have just failed to break out of original point 3 down channel, and failed to close outside of original channel.

Just a retrace so far in the bigger picture.
 
Got in ANW after 10:00am today off PRV stayed in until the decreasing volume at the 11:30 bar. I'm further trying to monitor PRV off the 30 min charts to better my PRV recognition.
 

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Looking at the dominos ... from another angle ... :)

EDIT: Also, tax time (with its cash flow) is coming.
Quote from TIKITRADER:

ES Daily Chart March 24 2008

Although price exited the down channel that has been in place for months, it did so on decreasing volume.
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