Iterative Refinement

[guavaman]

Quote from Spydertrader:

By adding the missing Lateral Formation, you should easily see a different context with this example compared to the example under discussion this morning.

This bar is change because we need "more increasing black volume (in this case) to confirm a BO of a lateral.

 

[Spydertrader]

Quote from dkm:

A different context? Both appear to be traverses made of 3 tapes, one ends in an FTT and the other doesn't.

One example creates a Lateral. The other doesn't. See guavaman's answer. If you do not see a difference in context between a lateral BO which fails to provide more increasing volume, and thus, creates a signal for change, and an example which has no lateral, then I really do not know what else to say, except to suggest again that you have missed a critical component of monitoring.

- Spydertrader

 

[dkm]

Quote from Spydertrader:

One example creates a Lateral. The other doesn't. See guavaman's answer. If you do not see a difference in context between a lateral BO which fails to provide more increasing volume, and thus, creates a signal for change, and an example which has no lateral, then I really do not know what else to say.

- Spydertrader

Yes I see it clearly now. I think I have been staring at charts for too long.........

 

[The Swordsman]

How is this a lateral formation (based on dkm's chart)? The second bar goes higher than the high of the first bar of the labled lateral formation.

Quote from Spydertrader:

Thank-you for providing an example of how a failure to thoroughly annotate a chart can lead to confusion. By adding the missing Lateral Formation, you should easily see a different context with this example compared to the example under discussion this morning.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2011186>

 

[Spydertrader]

Quote from dkm:

Yes I see it clearly now. I think I have been staring at charts for too long.........

Does the current market condition look familiar?

- Spydertrader

 

[Spydertrader]

Quote from The Swordsman:

How is this a lateral formation (based on dkm's chart)? The second bar goes higher than the high of the first bar of the labled lateral formation.

Lateral Movement. I apologize for the typo.

- Spydertrader

 

[The Swordsman]

No problem

Quote from Spydertrader:

Lateral Movement. I apologize for the typo.

- Spydertrader

 

[dkm]

Quote from Spydertrader:

Does the current market condition look familiar?

- Spydertrader

Yes

 

[Spydertrader]

Quote from dkm:

Yes

Good. Now. Look to see if you can locate any differences between today, and with what you believe is the same.

Otherwise, you'll be posting next about why this example (today) didn't result in the same outcome in a few minutes.

Hint: Compare the BreakOut Bars to see what differences exist.

- Spydertrader

 

[Jander]

Feeling pretty lost today

Chart w/ errors left in tact