Iterative Refinement

[Avi 8]

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[Padawan]

Thanks, Avi8!

 

[TraderD72]

Quote from Avi 8:

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<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1801156>

Thanks for sharing this sequence Avi.

I often have trouble with "fast" channels that dont appear to have a retrace.

This chart is a good example of what I am talking about.

Increasing black on bar 2 and 3 then decreasing red on bars 4 and 5.

I put my "tapes" in place and now I am waiting for a my new Pt3 up. Then the 10am number comes out and straight down we go.

Like I said with no retrace or break of the down tape, these situations are still difficult for me to identify.

Thanks again Avi for your posts.

 

[guavaman]

Fantastic Avi

 

[Avi 8]

Quote from TraderD72:

...I often have trouble with "fast" channels that dont appear to have a retrace...

I take note of these 'chubby' tapes and anticipate a 'better looking' pt3 down. Did this happen later?

...Increasing black on bar 2 and 3 then decreasing red on bars 4 and 5.

I put my "tapes" in place and now I am waiting for a my new Pt3 up. Then the 10am number comes out and straight down we go...

But look at bar 6 - it has inc red volume. This is the bar before the econ report bar. The inc red vol just told you to eliminate one possible sequence - the new pt3 up.

 

[Spydertrader]

Quote from Avi 8:

I am posting five screenshots of the ES.

Fantastic.

- Spydertrader

 

[Padawan]

Quote from Avi 8:

I take note of these 'chubby' tapes and anticipate a 'better looking' pt3 down. Did this happen later?



But look at bar 6 - it has inc red volume. This is the bar before the econ report bar. The inc red vol just told you to eliminate one possible sequence - the new pt3 up.

Hey, Avi 8. This info is great. Which economic reports/calendar(s) do you keep track of?

 

[TraderD72]

Quote from Avi 8:

I take note of these 'chubby' tapes and anticipate a 'better looking' pt3 down. Did this happen later?



But look at bar 6 - it has inc red volume. This is the bar before the econ report bar. The inc red vol just told you to eliminate one possible sequence - the new pt3 up.

Yes! I waited for the "better looking" point 3 ( see posted chsrt from earlier today).


In reference to your second answer....

I see the same sequence for bars 8,9 and 10 today.

Bar 8 black volume start of retrace...Bar 9 DEC black as price moves higher looking for new Point3 down....

Bar 10 INCR black (over last bar).....

Are you saying that based on this same sequence you would eliminate the possibilty of a new Pt3 down based on Bar 10?

Or was Bar 10 a new PT3 up in your "chubby" tape???

 

[Spydertrader]

Quote from R/R:

Some clarification would be appreciated when you have a chance.

On the LTL (including a VE) does not equal near (or almost, next to, close by, approaching, just passed, kinda'-sorta', 'was but now isn't'). As such, when ES sits on a LTL (including a VE) then you have permission to view the YM.

- Spydertrader

 

[Avi 8]

Quote from Padawan:

...Which economic reports/calendar(s) do you keep track of?

Tell you the truth, I did not even look at the calendar until now! I just did what the market told me to do.

But when I do look: http://www.bloomberg.com/markets/ecalendar/index.html

or the one Spydertrader posted:http://www.dailyfx.com/calendar/