Iterative Refinement

[ehorn]

Ok, here is an alternate preflight, based on recent collaboration.

Thoughts?

 

[Jander]

Quote from romanus:

I did not think permission to seek change existed on 13:50 [close of] bar.

13:05 [close of] bar marked the transition to new dominant mode (red) breaking RTL on incr. Volume.

However, while moving from pt2 to pt3, increasing black Volume on 13:25 [close of] bar, caused change in dominance (that bar is not a spike) to black and as such after breaking out of lateral and returning to dominance on 13:50 [close of] bar, we had yet to transition to non-dominant mode before arriving at Pt3. In other words IMO, the market is still on it's way to Pt3 as of 13:50 [close of] and therefore no permission to seek change exist.

I may be way off base here, apologies in advance if so....

How does the 13:05 bar mark the transition to a new color of dominance? Is it not sitting in the middle of a lateral formation?

Also 13:25 bar is clearly a pennant BO, which negates that bar's ability to change dominance.

My reference is Spyder's post here http://www.elitetrader.com/vb/showthread.php?s=&postid=2094603

Thanks for any insight

 

[Spydertrader]

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2121599>

 

[ticktrade]

Quote from Spydertrader:

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2121599>

What was the SOC on your green pt1? Should it have been known on that bar? I did not enter long until early in the last minute of the 1405 bar @ 851.75

 

[romanus]

:eek:
Apparently the sequence was completed on 14:10 [close of] but not on 13:55 [close of]. Go figure!

 

[Spydertrader]

Quote from ticktrade:

What was the SOC on your green pt1? Should it have been known on that bar? I did not enter long until early in the last minute of the 1405 bar @ 851.75

That 14:00 ES [close of] black bar heading higher on increasing black Volume might be a clue.

Quote from romanus:

:eek:
Apparently the sequence was completed on 14:10 [close of] but not on 13:55 [close of]. Go figure!

14:10 is Point Two. Unless I am mistaken, a sequence cannot complete until the market has completed a Point Three. Same reason 15:05 did'nt signal change.

- Spydertrader

 

[romanus]

Quote from Spydertrader:


14:10 is Point Two. Unless I am mistaken, a sequence cannot complete until the market has completed a Point Three. Same reason 15:05 did'nt signal change.

- Spydertrader

Thank you. I see no other choice but to attribute return to dominance to increasing red volume on 14:25 [close of] Bar, since 14:30 [close of] is obviously lateral BO.

 

[Spydertrader]

Quote from romanus:

Thank you. I see no other choice but to attribute return to dominance to increasing red volume on 14:25 [close of] Bar, since 14:30 [close of] is obviously lateral BO.

On my chart, all three bars - 14:25, 14:30 and 14:35 (all times Eastern and [close of] ES Bar) show increasing Volume.

- Spydertrader

 

[romanus]

Quote from Spydertrader:

On my chart, all three bars - 14:25, 14:30 and 14:35 (all times Eastern and [close of] ES Bar) show increasing Volume.

- Spydertrader

Makes sense now. Thank you.

 

[PTVtrader]

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