Iterative Refinement

Quote from romanus:

I am not guessing. A clear difference exists in terms of VE in one and lack thereof in the other.
EDIT: I forgot to mention the lack of pt3 either:)
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Plus different closes in the latter snipet and the same closes of these two bars on the first.
 
Quote from Spydertrader:

....Compare the chart snippet (posted today with the lateral) with the lateral BO, to 11:45 AM [close of] ES bar (all times Eastern) in order to understand why today acted differently than what you stated 'looked familiar.'

In such a fashion, you should eventually arrive at the reasons why the market said hold earlier today and reverse on the earlier posted chart snippet.

I don't want guesses either, so if you cannot see the differences right away, work at it for longer than 20 minutes.

- Spydertrader
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The bo at 11:45 today was the beginning of a new traverse and 11:50 was a pt2, hence a hold.
 

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Quote from gucci:

Plus different closes in the latter snipet and the same closes of these two bars on the first.
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The market has already built two traverses: dominant and non-dominant (in the form of lateral). Now you have a BO of lateral on increasing volume followed by a bar that fails to provide more increasing volume - this signals change preceding the price movement from pt2 to pt3 of the new dominant up traverse. Where and how that bar closes is irrlevant, the only thing that matters is that it failed to provide more increasing volume.
 
Quote from romanus:

The market has already built two traverses: dominant and non-dominant (in the form of lateral). Now you have a BO of lateral on increasing volume followed by a bar that fails to provide more increasing volume - this signals change preceding the price movement from pt2 to pt3 of the new dominant up traverse. Where and how that bar closes is irrlevant, the only thing that matters is that it failed to provide more increasing volume.
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:cool:

Nice description
 
Quote from romanus:

The market has already built two traverses: dominant and non-dominant (in the form of lateral). Now you have a BO of lateral on increasing volume followed by a bar that fails to provide more increasing volume - this signals change preceding the price movement from pt2 to pt3 of the new dominant up traverse. Where and how that bar closes is irrlevant, the only thing that matters is that it failed to provide more increasing volume.
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You are right, romanus. I just tried to list all the differences.
 
Quote from romanus:

:eek: Oops, I am sorry. I am meddling in other people business again. Apology. Won't happen again.
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Never mind!:) Your meddling is conducive.
 
Quote from Spydertrader:

1. Delete the Green and Purple. They are not Traverses. They only look like Traverses. Note how the increasing Volume forms.


- Spydertrader
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I have been confident of tapes , traverses , and channels until a week or two ago when some feedback on traverses had me think WTF?

All clear now, I am a little slow at times ! hahaha!

romanus, I'll take an extra large in white ok, thanks :D
 
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