Iterative Refinement

[ivob]

Here it is again.

I completely understand Spyder's point. Lateral formation was broken (not annotated). However, next bar (14:30) did not show more increasing red.

By the way, look at the last FTT of today. It's the same thing. 15:30 break of lateral on increasing red. WMCN is more increasing red at 15:35. What happens at 15:35? It's red but not increasing so we expect the trend to change. Next bar first goes lower and then quickly goes up and the trend change materialized (FTT).

regards,
Ivo

<IMG SRC="http://www.elitetrader.com/vb/attachment.php?s=&postid=1926855">

Quote from Spydertrader:

Clicking the link you provided does not bring up the chart posted by ivob (at least on my computer screen). See attached.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1926318>

 

[ivob]

The bar closes inside the previous bar forming a lateral formation FBO.

regards,
Ivo

Quote from gravitonium77:

With all the PV talk the past few weeks I thought maybe I was beginning to "get it". Apparently not. On the attached chart, please note the red triangles. That bar achieved IBV as an inside bar. The higher volume could not move price higher in what was then a dominant move in an up channel.

As this appeared so much like the example talked about a couple weeks ago, I took this to mean a signal to reverse to short. Any one else see it this way?

 

[Mr_Black]

ES today...

 

[romanus]

Am I the only one who thinks that no pt3 up channel should be drawn between 1420 and 1530 due to the fact that any pt2 of such channel should have been higher than the high of 1430 [close of] bar?

 

[LostTrader]

Quote from romanus:
Am I the only one who thinks that no pt3 up channel should be drawn between 1420 and 1530 due to the fact that any pt2 of such channel should have been higher than the high of 1430 [close of] bar?

To me, it depends solely on the guassians.
If I see a \/\/ on the price & volume combination, then I see a 123 channel.

Consider it as being on a different resolution (level) than the lateral...

 

[ivob]

Hello,

In my opinion different channels can be drawn during this period, checkout image. First a down channel and then an upchannel, all within the lateral movement. I don't know exactly what channel you are refering to. Do you mean 14:25 bar when you mention 14:20?

regards,
Ivo

p.s. By the way: 15:25 bar tricked me because I saw failed pennant breakout and went long (I quickly corrected that mistake). However, YM gave the answer because it had broken out already on increasing red (15:24 and 15:26 bar)

<IMG SRC="http://www.elitetrader.com/vb/attachment.php?s=&postid=1926925">

Quote from romanus:

Am I the only one who thinks that no pt3 up channel should be drawn between 1420 and 1530 due to the fact that any pt2 of such channel should have been higher than the high of 1430 [close of] bar?

 

[gravitonium77]

Quote from Spydertrader:

Ok, so you can't find the other charts. No problem. What did the YM say this time with respect to long or short? Specifically, the 11:14 [close of] bar?

- Spydertrader

First, my profound apologies for leaving in middle of conversation, such are the vagaries of life

To answer your question: the 11:14 YM bar showed IBV, also an outside bar with IBGS and closed outside the lateral movement of the prior 20 minutes.

I feel embarassed

The honest to God truth is somehow my mind seems to play tricks on me. It "seems" like so often when I observe the YM when ES is in pennant or lateral that when I follow the signal on the YM, it proves to be false (perhaps shortlived is more accurate).

Anyway, thank you for your patience. If it's ok, I will just keep trying and remember to check the YM when I'm supposed to, and then, IF I seem to have gotten conflicting signals I"ll ask for your input.

PS THanks R/R and others for your help.

 

[romanus]

Quote from ivob:

I don't know exactly what channel you are refering to. Do you mean 14:25 bar?

Technically, if we start with 1430 [close of] or 1425 [if your software marks bars at open] large red bar that opened @1430.75 and dropped down 3.5 points, then we start with the tape RTL drawn through the low of 1430 [close of] bar and the low of the next bar. The LTL of such tape would be drawn through the high of 1430 [close of] and any possible pt2 would have to break the LTL of the tape, which did not happen. See attached.

 

[R/R]

Quote from romanus:

Technically, if we start with 1430 [close of] or 1425 [if your software marks bars at open] large red bar that opened @1430.75 and dropped down 3.5 points, then we start with the tape RTL drawn through the low of 1430 [close of] bar and the low of the next bar. The LTL of such tape would be drawn through the high of 1430 [close of] and any possible pt2 would have to break the LTL of the tape, which did not happen. See attached.

My unsanctioned way. See if it makes sense.

 

[Spydertrader]

Quote from R/R:

My unsanctioned way. See if it makes sense.

It does to me, as I annotated that area in the same fashion as you.

- Spydertrader