Iterative Refinement

Quote from ang_99:

As price was rising on falling volume I thought the circled bar was our FTT but nope.
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The period you reference was a retrace of a down trend (dec. black to the yet to be established RTL). Also, the bar was an FTT (also and IBGS), but the next bar was also an IBGS that became an Outside bar. There was a sentiment shift in the (11:20?) bar that reversed the previous down sentiment back to the Up trend.
Also, your Up channel never saw inc. black volume.

-guava
 
Quote from ang_99:

11:00 to 11:30 was tough. As price was rising on falling volume I thought the circled bar was our FTT but nope.
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We have to watch the dominoes... if they don't fall in the anticipated direction, we have to take timely action.

My problem: a few times today the dominoes did not fall fast enough. I got out, just to see the market take off without me. :-(

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Quote from guavaman:

The period you reference was a retrace of a down trend (dec. black to the yet to be established RTL). Also, the bar was an FTT (also and IBGS), but the next bar was also an IBGS that became an Outside bar. There was a sentiment shift in the (11:20?) bar that reversed the previous down sentiment back to the Up trend.
Also, your Up channel never saw inc. black volume.

-guava
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Yes, on the forest level that period was a retrace of the morning downtrend.

Also, your Up channel never saw inc. black volume.
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So are you saying thats not a valid tree level channel?
 
Quote from ang_99:

So are you saying thats not a valid tree level channel?
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The 10:45 saw inc. black volume so that would be the PT3 with the 10:35 as PT1 . Using the :45 bar as PT1 did not allow proper confirmation of a channel.

IMHO:p
 
My take:

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1845437>
Quote from guavaman:

The 10:45 saw inc. black volume so that would be the PT3 with the 10:35 as PT1 . Using the :45 bar as PT1 did not allow proper confirmation of a channel.

IMHO:p
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