Iterative Refinement
- Thread starter Spydertrader
- Start date
http://www.elitetrader.com/vb/attachment.php?s=&postid=2061872
This one's a little bit tougher for me. I'd have to think about that one.
Sometimes I can be really slow - it took me more than 2 months to answer gucci's question.By "last bar" I presume that you are referring to the 11:45 bar (where the large green number 2 appears). This is in fact a lat bo but more importantly, it is 3 bars after the pt3 annotated at 11:30. I would expect that spyder was able to annotate the pt3 well before the close of 11:45.
Yes.
It seems to me differences exist between this bar and bar that opens inside formation.
EDIT: I don't think the 11:45 [close of] bar meets the definition of Lateral BO.
I don't know why it's important. Pt3 annotation takes place when increasing volume confirms. I dont' think in real time pt3 annotated at 11:30 would be a correct way to do it as that lateral could have continued for 2 hours like it did today for example.
I respectfully disagree because before the close of 11:45 the sequence for a Traverse is not completed.
Given the arbitrary 5 min delineation and imperfect nature of when the market 'locks-in' its signal, I think the benefit of the doubt should be given to those situations where price action appears to meet the definition of something we are familiar with but in fact does not.
But in reality, it does not really matter. Simply try annotating as a Traverse situations where increasing volume comes from Lateral (either Movement or Formation) BO / FBO or from a Pennant / Adjacent bar Even Harmonic BO / FBO - and follow the sequences of signals.
You will find that there won't be any signals to place you back on the right side - Spydertrader suggested this drill last month, it's very illuminating for the purposes of staying on the same resolution.