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Iterative Refinement
- Thread starter Spydertrader
- Start date
Quote from ivob:
Which one?
10 min?
regards,
Ivo
simply change chart interval might just work, but that's not what I meant.
I trade tree level, but when a time like this, I pay more attention to find the forest I'm in. usually there are 2 forests in one day, one of them dominant. I'll be very careful if situation forces me to trade ftt in dominant forest or trade p3 in non-dom forest.
ER
Quote from Padawan:
Is anyone finding the fractal where price is taping and then trading from that? I've heard this mentioned and it sounds straightforward enough, but I'm not sure how it's accomplished. Any thoughts?
I mainly look to do it when the price action and the gaussians are poorly expressed in 5 minute bars (lots of intrabar change). Sure, I could just look at the YM for that faster-fractal clarity, but sometimes I feel like that would be a misuse of the YM, which I am supposed to be using only at times of change as a leading indicator. So, to avoid overusing or misusing the YM, sometimes I drop down to 2 min ES at certain spots. Attached is an example of a spot where I might do this. Note that every bar is extreme in volume, and that traverses and retraces often complete within a single bar.
Attachments
Quote from Pr0crast:
I mainly look to do it when the price action and the gaussians are poorly expressed in 5 minute bars (lots of intrabar change). Sure, I could just look at the YM for that faster-fractal clarity, but sometimes I feel like that would be a misuse of the YM, which I am supposed to be using only at times of change as a leading indicator. So, to avoid overusing or misusing the YM, sometimes I drop down to 2 min ES at certain spots. Attached is an example of a spot where I might do this. Note that every bar is extreme in volume, and that traverses and retraces often complete within a single bar.
I see, so you crank up the microscope when it's hard to know what's happening with 5 min. bar P/V. The extension, I guess, would be to fine tune with STR/SQU, DOM and T&S during these periods. What do you think of zooming out to a slower fractal under the same circumstances? Based on the way the 5 min. looks, one should see that there's probably a lateral formation on the next higher time frame, e.g. 15 min. The price bars would be filling the lateral and then the trader would use his/her knowledge of internals to stay on the right side of the market?
When I posted the question I was thinking about trending market conditions and how to find and trade the taping fractal within it, but you've also brought up a scenario that's just as important to understand. My assumption is that there's almost always a tape on some fractal to trade. You either have to zoom in or out far enough to find it. I've read about the Tampa Tape, but may need a Rosetta stone or just deeper personal investigation of the subject. Sometimes my palette isn't sensitive enough for the delicacies that Jack has served over the years. Thanks for the reply and the new perspective.