What must come next ?
Iterative Refinement
- Thread starter Spydertrader
- Start date
What must come next ?
I'm curious as to why you feel the orange channel was bogus ? (in other words, I had it on my chart as well
)Seemed to be a pretty good candidate for today's forest view. I realize one would have recycled the Pt. 3 (11:00 bar ) as a Pt. 1, and steepened the down channel slope using the 12:55 bar for a new Pt. 3. But I also see no harm in leaving the original for a secondary level of R.
thanks ...
Spyder,
On the daily chart.
If Tuesday, March 11 forms a small inside bar that closes up, creating a Sym pennant.
That is all that is needed ( even if it only lasts one day) to confirm the trend has changed, am I correct?
Ok , say Wednesday price breaks out of the pennant to the downside on higher volume, that small inside bar that formed on Tuesday would still have been the change in trend, just for the day, correct?
I am referring to what must come next? for March 10th did not. So if Tuesday forms a small inside bar, Sym P and closes up on lower volume. That showed a change in trend, although possibly it might only be lasting a day, then price resume down possibly Wednesday on increasing red.
Hope this makes sense what I am saying, not sure if I am clear.
On the daily chart.
If Tuesday, March 11 forms a small inside bar that closes up, creating a Sym pennant.
That is all that is needed ( even if it only lasts one day) to confirm the trend has changed, am I correct?
Ok , say Wednesday price breaks out of the pennant to the downside on higher volume, that small inside bar that formed on Tuesday would still have been the change in trend, just for the day, correct?
I am referring to what must come next? for March 10th did not. So if Tuesday forms a small inside bar, Sym P and closes up on lower volume. That showed a change in trend, although possibly it might only be lasting a day, then price resume down possibly Wednesday on increasing red.
Hope this makes sense what I am saying, not sure if I am clear.
One does not need an entire day of opposite trend in order to 'see' the trend has changed. To suggest so indicates a 'prediction' of the future in terms of the length of said retrace. One simply needs to 'see' Price move in a non-dominant direction. Then, one needs to follow the 'dominos' as they fall showing continued movement in the non-dominant direction. Failure to 'see' these dominos indicates a possible resumption of the dominant trend. Think of it this way: Have you not 'seen' Price show a retrace across two seperate bars, when at first glance, it appeared as if no retrace existed? In such a case, the dominant trend resumed within the same bar as the retrace.
- Spydertrader
Looks like 3/7 was the Pt 3 on ANW. Looking for increased red volume tomorrow further confirming the pt 3. The thing that confuses me is that the rule for that pennant is hold for continuation meaning hold for continuation to the upside?? which would have been a pretty tough loss if I did do it.
Price breaks out of a Pennant on decreasing Volume and this tells you nothing? Perhaps a thorough review of Pennants is in order. In addition, your Pink Channel is incorrect.
- Spydertrader
Thanks, I had not even considered that as a possibility.
It is all about how the sequence of events take place, regardless of the time frame, that need to be monitored for continuation or change.
The pink channel is incorrect?? It may look a little different because on the 30 min I have adjusted it to actual prices according to the 30 min fractal. ESignal is having a major issue with the hour change. Why exactly is it incorrect?? the Guassians seem to match up. Is my Pt 1 incorrect?
Comments appreciated
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