Iterative Refinement

[Haroki]

Quote from romanus:

Those yellow triangular shapes on your chart aren't like anything I've ever seen before. They don't look like any of the formations (SYM, FTP, FBP). Just curious what are they?

They're bullshit.

I think I may have gotten suckered in by a troll.....

 

[romanus]

Quote from Haroki:

They're bullshit.

I think I may have gotten suckered in by a troll.....

Ditto.

My chop ended on 10:30-10:35 bar breaking out of the Lateral Formation on increased Volume and simultaneously confirming pt3 of the new up channel.

 

[sscott]

Here's my morning chart.....

 

[Spydertrader]

Quote from sscott:

Here's my morning chart.....

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1889104>

 

[sscott]

Quote from Spydertrader:

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1889104>

Hi Spyder,
I now can see the green up channel, the Sym and the Lateral that I should have annotated on my chart. The pink down channel has me stumped. My WAG on why it is a true pt3 is because of the IBGS on the 10:15 bar which started out red but changed to black later in the bar made for the pt3 because of the increasing volume that was red for the majority of the time the bar was forming, which on a lower fractal would have been very apparent.

sscott

 

[Spydertrader]

Quote from sscott:

because of the IBGS on the 10:15 bar which started out red but changed to black later in the bar

I only know one way for a bar which makes a lower low (or higher high) to change color, and such an event did not take place here.

- Spydertrader

 

[guavaman]

Quote from Spydertrader:

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1889104>

The red Pt3 down channel around 11:30 is not confirmed with volume as well.

Thought I would mention this in case it might prove some benefit .

 

[gravitonium77]

Quote from Spydertrader:

I only know one way for a bar which makes a lower low (or higher high) to change color, and such an event did not take place here.

- Spydertrader

An outside bar?

 

[The Swordsman]

I saw that too and did not have that channel as well.

Quote from guavaman:

The red Pt3 down channel around 11:30 is not confirmed with volume as well.

Thought I would mention this in case it might prove some benefit .

 

[sscott]

Quote from Spydertrader:

I only know one way for a bar which makes a lower low (or higher high) to change color, and such an event did not take place here.

- Spydertrader

Ok, I thought that the 10:15 bar did make a lower low and then climb up to close above the open???? My understanding of what a IBGS is could be in error.


sscott