Iterative Refinement

Quote from dkm:

Spyder,
Thanks for posting your chart today (26th). I am curious as to why you did not use the ibgs at 11:15 to kill the lateral from 10:00, and also the ibgs at 13:30 to kill the lateral from 13:15. Both have increasing vol and penetrate the lateral boundary.
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11:15 was an outside bar and 13:15 is an IF1.

Those are the reasons why I kept my laterals going.
 
Quote from Spydertrader:

Note the trends within the rather large lateral. What tools does one use to trade within a Lateral? Since the only tool available comes from coarse level, the annotated trends within the rather large lateral do not apply. :)

As a result, those trading on the 5 minute ES Traverse level entered long at Bar Three and have held long ever since. Those trading on a faster fractal, would no doubt still have entered long at Bar Three, but also, reversed short at 11:00 AM and reversed once again long at 12:05.

Edit: And those trading on an even faster fractal would have reversed several more times within each of the annotated trends within the rather large lateral.

- Spydertrader
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Great stuff!

Quote from Spydertrader:

...Start with the 9:50 Bar and check on those increasing black Volume bars. Let me know when you reach one that doesn't have a short mode attached to it. :)

- Spydertrader
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More great stuff here!

P.S. Thanks for the reference charts today.
 
Quote from ehorn:


More great stuff here!
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Indeed.

Looks like one did not have permission to seek change in mode at 1435 eob because red just became dominant one bar ago and therefore one expects a retrace/lateral/pennant/ formation before permission to seek change.
 
Quote from romanus:

... Looks like one did not have permission to seek change in mode at 1435 eob because red just became dominant one bar ago and therefore one expects a retrace/lateral/pennant/ formation before permission to seek change.
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Quote from Spydertrader:

You really need to resist the urge to overcomplicate things. ...
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:) A traverse can have just 3 bars!!!
 
Quote from charts:

You're expecting something that doesn't have to come (next).
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http://www.elitetrader.com/vb/attachment.php?s=&postid=2091137
After the blue up traverse ends, the market has to transition to dominant red. Which means one has to see increasing red, which is not one of the three cases. The first bar that shows it is 1430 eob. After market transitions to dominant red ( as in textbook R2R) one expects a retrace ( which may be in the form of decreasing price on decreasing volume = lateral in down trend). Ours was decreasing black, followed by red spike closing inside prev bar, followed by black spike. Once the retrace is completed one has permission to seek change, which arrives in the form of peak volume followed by IBGS on increasing red.

Which part of the above do you think doesn't have to come (next).?
 
Hi all,

This is my first attempt at a Hershey-style chart. Just wondering if I've made any glaring errors?

Thanks,
Neoxx

P.S. Sorry it's not todays chart... saving the last couple of days data for market replay this weekend.
 

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