Iterative Refinement
- Thread starter Spydertrader
- Start date
So far
If I followed this thought process correctly, then the fact that to establish Point 2 the market broke the green RTL but not the grey dashed tells me which RTL is valid and which one is not.
Which takes me back to the morning. It was a channel after all - a red down channel consisting of chubby tape (1st dominant traverse) followed by Lateral Traverse and another dominant traverse (pink) and change at 1105.
Did I follow the "process of differentiation (first starting with one view, and when running into difficulty attempting to review with an alternate view)" correctly?
Quote from Spydertrader:
The entire period 13:20 - 15:15 represents a channel having dominant, non-dominant and dominant (again) traverses within it. Anyone who did not 'see' things that way on Friday, or who still doesn't 'see' things that way now, might want to review that area in the future.
(All times Eastern and [close of] ES Bars)
- Spydertrader
Hi Spyder, I'm still trying to come to grips with laterals and understand their different roles. I'm also trying to fully appreciate the difference between 5-minute level traverses and 'faster fractal traverses'. Can you offer any advice on the formation and dissolution of lateral formations and lateral movement?
Also, is this how the 13:20-15:15 period should have looked? (I had originally annotated this region as a steep traverse within a shallower one)
Many thanks,
Neo
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2182930>
This was a really illuminating post. Thanks, Spyder.
I imagine this would explain why observations, thoughts and feelings aren't always in sync, and sometimes, what may on the face of it seem to be the logical and correct method of annotation can't be reconciled with the nagging (but un-specifiable) feeling that something's not quite right.
For the day
It was a very illuminating post indeed.
As it turns out, all the answers anyone really needs reside "in the charts."
The learning process resembles the very same dynamic of completing a puzzle. One does not know which piece provides the clarity required to see the entire picture as a whole. However, once the 'piece' falls into place, each successive puzzle piece adds more clarity. Each successive piece does not cause one to 'forget' the image coming into focus.
If one dumps a box of puzzle pieces onto a table, how many pieces do you need to have in place before you can 'see' the picture? Repeat the process several times, and the pieces come together faster, and the picture becomes clearer sooner. The same process works with studying charts.
However, one needs to develop ability to be able to compare the exact same contexts instead of
apples to auto parts.
Which is the most difficult part IMO.
Today
E.g. I am looking at the up green channel which began as a traverse here: http://www.elitetrader.com/vb/attachment.php?s=&postid=2147018
and trying to compare and contrast with today's AM. Just can't see those subtle differences which tells what to expect in each case.