Iterative Refinement

Quote from Padawan:

I see, so you crank up the microscope when it's hard to know what's happening with 5 min. bar P/V. The extension, I guess, would be to fine tune with STR/SQU, DOM and T&S during these periods. What do you think of zooming out to a slower fractal under the same circumstances? Based on the way the 5 min. looks, one should see that there's probably a lateral formation on the next higher time frame, e.g. 15 min. The price bars would be filling the lateral and then the trader would use his/her knowledge of internals to stay on the right side of the market?

When I posted the question I was thinking about trending market conditions and how to find and trade the taping fractal within it, but you've also brought up a scenario that's just as important to understand. My assumption is that there's almost always a tape on some fractal to trade. You either have to zoom in or out far enough to find it. I've read about the Tampa Tape, but may need a Rosetta stone or just deeper personal investigation of the subject. Sometimes my palette isn't sensitive enough for the delicacies that Jack has served over the years. Thanks for the reply and the new perspective.
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I haven't read about the tampa tape except for other people's mentions of it, but it seems to make sense. We look at the 5 minute chart, in general, because that provides the best window for our trading fractal given an average level of volatility. It seems to make sense that if volatility is drastically higher or lower, that a different fractal may be appropriate (2 min, 3 min, 10 min, 15 min). With some awareness of current volatility levels, one can play around with these different "windows" looking into price action. To keep things simple I still think 5 min should be used 98% of the time (with 2 min YM), but the more I observe the more I come across situations where 5 min seems suboptimal, especially for tree-level retrace type channels.
 
A quick search for "tampa tape" pointed to this post and this post.
Quote from Padawan:

Is anyone finding the fractal where price is taping and then trading from that? I've heard this mentioned and it sounds straightforward enough, but I'm not sure how it's accomplished. Any thoughts?
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GLNG had all the right moves today. According to my chart incr black on the daily confirms the breakout of the red down channel. I got in off the Unusual volume table a little after 10:30. When I go down to my 30 min chart I can see the BO in terms of Guassians a lot more clearly. Ive posted my charts. Anyone with critique or comparison charts would be very helpful. The thing I'm having a little trouble with is where the FTT is and where the B2B breakout starts. I'm confident there is a BO but my Guassians don't match up well on the daily.
 

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Quote from LittleMac:

Here's my GLNG 30. Can seem to figure out the ftt here either. Do the daily and 30 ftt's have to be in the same spot??
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Yes, when you have a FTT on the slower fractal (daily) you will also have a FTT on the faster fractals (30 min, 5 min etc).

However every FTT on the 30 min is NOT going to be a FTT on the daily fractal - As the daily goes through a traverse, the 30min will go through one or more cycles where the dominant direction changes and each of these dominant direction changes will have a FTT.
 
KMGB and VSR also had signals today. But i cant get their charts straight at the moment, especially KMGB which has been in like a volatile lateral movement outside of my current channel. Anyone have an idea??
 
Quote from dkm:

Frequently I see increasing volume on the non dom traverse from pt2 to pt3 and then pt3 forms with decreasing volume in the dominant direction. This is not a rare occurence and it continues to confuse me.
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Here is another example on today's charts.

Note the clarity the YM provides. A b2b on the 1124 bar. The lack of red volume on the 1126 bar. Followed by increasing black volume.
 

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