Iterative Refinement

[sscott]

Quote from Avi 8:

'You' might have seen a pt 3 there, and so did others, but does that make it a pt 3?

No, there is no pt 3 down channel.
<img src=http://www.elitetrader.com/vb/attachment.php?

s=&postid=1895920>

That's right, it's an outside bar, so the bar would be black, not red....... and as such, not the increasing red volume needed for the confirmation of a pt3 down channel....

Thanks!

 

[Avi 8]

Quote from ChkitOut:

...you're too high and all mighty to show time stamps...

It should be obvious now why it does not matter if blotters or trades are posted.

First you compliment callmate and then cry like a baby when time stamps aren't delivered.

On another note, too high and mighty for that apology?

 

[Avi 8]

Quote from ChkitOut:

...BTW, I'm speaking for all the people who aren't getting it, need proof, but are afraid to ask...

Wow, who appointed you king! I say king because I seriously doubt a democratic process ensued where all the people voted and you won the majority.

This sure sounds like someone else who used to frequent these journals, even did some work and helped others, including me. But in the end he wrapped himself with the need for proof instead of doing the real work needed.

 

[Avi 8]

Quote from sscott:

That's right, it's an outside bar, so the bar would be black, not red....... and as such, not the increasing red volume needed for the confirmation of a pt3 down channel....

Thanks!

Just to clarify, during the formation of the OB, with the inc red volume, a pt3 and down channel existed. It was on the completion of the OB that the channel was not confirmed. Very rare occurence and in the end, the same Decision and Actions occured.

Sorry for any confusion I may have added.

 

[The Swordsman]

Excellent post Spyder, these types of posts are incredibly helpful
Thank you.

Quote from Spydertrader:


Hope everyone found the above walk through useful.

- Spydertrader

 

[sscott]

Quote from Spydertrader:


Again, Three ways for Price to move from Point One to Point Two. Three ways for Price to move from Point Two to Point Three. One way for Price to move from Point Three into the channel. If you do not know these sequences, learn them before taking your next trade.




- Spydertrader [/B]

Pt1 to PT2
Increasing volume, decreasing volume, lateral
Pt2 to Pt 3
Increasing volume, decreasing volume, lateral
Pt 3 into channel
Increasing dominant volume

 

[guavaman]

Quote from Spydertrader:

You have been weighed, you have been measured, and you have been found wanting.

It is not my intention to pile on...but this is funny

 

[sscott]

Quote from Avi 8:

Just to clarify, during the formation of the OB, with the inc red volume, a pt3 and down channel existed. It was on the completion of the OB that the channel was not confirmed. Very rare occurence and in the end, the same Decision and Actions occured.

Sorry for any confusion I may have added.

Now there is a little confusion. You say the channel existed, so it should have been drawn, however, it was not CONFIRMED, so the channel lines should NOW be deleted and a new Pt3 anticipated? I think that is what you are saying.

 

[Avi 8]

Quote from sscott:

Now there is a little confusion. You say the channel existed, so it should have been drawn, however, it was not CONFIRMED, so the channel lines should NOW be deleted and a new Pt3 anticipated? I think that is what you are saying.

Yes, this is exactly what I did. In realtime I had the channel drawn until the OB showed up. Then I removed the channel. Remember, this is a very rare occurence, so don't fret over this. More importantly, the Actions and the results were the same.

 

[palinuro]

Quote from Spydertrader:


Hope everyone found the above walk through useful.

- Spydertrader

I also found that extremely helpful. Thanks.