Iterative Refinement
- Thread starter Spydertrader
- Start date
YESSS! Thank you.Quote from charts:
...
1430 and 1435 don't break the tape. I have to see if this holds any significance and if one can treat reverse pennant (1425 and 1430) as one bar per JH, - then, if one doesn't consider 1425 as dominant bar, - 1440 is spike and perhaps there was no return to dominance there. Hmm...
Regardless of your trendlines, whether you recycle the point 3 or use the same point 1, you need to find consistencies.
Look at how, when you keep using your original point 1 (Where all my brown lines originate from, you see a consistency of break-outs: 1max. 2bar break-out, which will mark the high, beginning from the low within the channel.
Then look at your ONLY up traverse within that day. (turquoise). Are you able to see that your "recycled" point 3 (magenta down traverse) tells you point 2 (turquoise) was a...Guess what: 2 bar break-out!
I'm just trying to say, there's no wrong way of annotating, at least not in my opinion. Just try to find (trough different ways of annotating) the consistencies of the market.
Different ways of annotating opens your eyes. You will see more and more consistencies. Same as annotating different markets (YM, Dax, AEX, CAC40, NQ,..) because they all tell the same story, in a different way.