Iterative Refinement

[TraderD72]

After the recent "IBGS" posts, I am wondering if we have a clear definition yet?

A move in the dominant direction that makes a higher high or lower low and then closes below the open?

Could also be a gaussian peak or trough?

Any other thoughts?

 

[cnms2]

I look at the bar's P,V dynamically, or on a finer time frame. It usually marks a change in trend, like at an FTT, Pt3, etc.

Quote from mephistoII:

Thanks Spy - still confused with that idea, but considering the 'day' and the time, I would hope better things await you this evening

 

[mephistoII]

Thanks, cnms2 - I suppose the studies will never cease

 

[cnms2]

In my opinion an "intra-bar gaussian shift" is a sudden significant sentiment change that isn't spanned over multiple bars (e.g. rising red volume followed next bar by rising black volume). The kind of definitions recently stated here are only particular situations and cannot be usefully generalized. Let's not forget that the bar's opening, and the previous bar's closing, are just individual samples in time (for intra-day trading). In Jack's IF1 IF2 logic the IF1 is just a warning.

Quote from TraderD72:

After the recent "IBGS" posts, I am wondering if we have a clear definition yet?

A move in the dominant direction that makes a higher high or lower low and then closes below the open?

Could also be a gaussian peak or trough?

Any other thoughts?

 

[Spydertrader]

Quote from cnms2:

In Jack's IF1 IF2 logic the IF1 is just a warning.

I suggest you seperate how Jack uses If1-If2 from what the market indicates with respect to this specific point in time. What you find, might well prove worth the effort.

- Spydertrader

 

[cnms2]

Looking just at the 5 minute bars, I might be tempted to see the 12:25 OB as black volume, but intra-bar it is red (in my interpretation). Its low is an FTT.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1831761>

Quote from mephistoII:

Thanks, cnms2 - I suppose the studies will never cease

 

[cnms2]

Thanks. I was not implying to use If1-If2 in this context. I just wanted to illustrate that IMHO a 5 minute bar's open and close prices are just instant (transient) moments in time, that may differ from one data source to another, and that change in a fraction of a second.

EDIT: But I won't argue it if you tell my otherwise

Quote from Spydertrader:

I suggest you seperate how Jack uses If1-If2 from what the market indicates with respect to this specific point in time. What you find, might well prove worth the effort.

- Spydertrader

 

[Spydertrader]

Quote from cnms2:

Thanks. I was not implying to use If1-If2 in this context. I just wanted to illustrate that IMHO a 5 minute bar's open and close prices are just instant (transient) moments in time, that may differ from one data source to another, and that change in a fraction of a second.

I believe you have missed the intent of my post. I encourage you to look at If1-If2 in a different context than you currently hold true. With respect to an Outside Bar, the chart posted provides crystal clear examples of negative sentiment which we color as red, but not for the reasons you state. The answers are far more simple.

Perhaps, putting away the 1 minute ES and focusing only on the ES (5 min) and YM (2 min) can provide the roadmap needed for you to make it to the next level.

One need not head down the rabit hole in order to 'see' what the market provides in terms of signals.

- Spydertrader

 

[Jander]

Quote from cnms2:

I suggest reviewing the 6/20/07 chat with Spydertrader, especially the final part starting about 2:50 pm, where he explains to Easybeat how to think WMCN.

Read the .doc attachment to Tums' post.

Easybeat's conclusion:

Thanks for posting that -- good stuff in there

Leads me to this 11:30-11:45 today

Is this dip in the non-dom move a good 'domino' to say ''hey this up channel may not have another dominant leg in it" ??

 

[callmate]

Drill Time

What can make a point 1?



Where does the 'change' happen for a new channel direction?