Iterative Refinement

[Spydertrader]

Quote from romanus:

I had no right to reverse long until bar 10 (10:15-10:20), because there was no pt3 down channel

There you go. Is that a 100 Watt bulb above your head?

- Spydertrader

 

[sscott]

My chart for today.........

 

[Failure2Travers]

Quote from romanus:

I am working through the rest of your post, but one thing is clear to me now.

Using FTT ->FTT, FTT->FBO/BO rules I had no right to reverse long until bar 10 (10:15-10:20), because there was no pt3 down channel until outside bar 8 brought increased red volume into the picture and created pt3 and bar 9 created an FTT of the blue pt3 down channel.

Is this conclusion correct?

EDIT: the rest of the annotations are still work in progress and should be disregarded for now.

If this truely was a point 3, we would have had INCREASING red volume following it. Looking back, we never got confirmation of a point 3. I viewed this as a tape instead of an FTT. If we would have had increasing volume, then we would have had a down channel with an FTT reversal and never would have looked back. I used my playback capability in my charting to rewind and see this as it took place. See the attached image.

 

[Failure2Travers]

Quote from Failure2Travers:

If this truely was a point 3, we would have had INCREASING red volume following it. Looking back, we never got confirmation of a point 3. I viewed this as a tape instead of an FTT. If we would have had increasing volume, then we would have had a down channel with an FTT reversal and never would have looked back. I used my playback capability in my charting to rewind and see this as it took place. See the attached image.

Image did not attach. Here it is! Sorry!

 

[romanus]

Quote from Failure2Travers:

If this truely was a point 3, we would have had INCREASING red volume following it.

It appears we had INCREASING red in it. See one of my previous posts today and Spydertrader's reply.

Quote from Spydertrader:


The outside Bar was once increasing red before it became an outside bar and ended increasing black.

 

[LostTrader]

romanus,
I see that you are still using VolumePRV -- one thing that may help would be to move to VolumeSCT (see the Hershey Software forum) It colors the Volume bars differently, which helps with the Gaussians (for me anyway) quite a bit. If you search for it, just take the last one (latest).

 

[treeline]

My ES chart for today. I annotated numerous midday channels that were supported by increasing volume after Pt 3. I finally left one out because Price didn't penetrate the RTL by much, and adding another channel seemed like adding too much clutter. The channel I'm referring to is the one with a Pt 3 Up at 14:25 EST (13:25 CST on my chart). Price briefly penetrated the purple up channel and then reentered the channel on the next bar, forming an FTT.

 

[romanus]

Quote from LostTrader:

romanus,
I see that you are still using VolumePRV -- one thing that may help would be to move to VolumeSCT (see the Hershey Software forum) It colors the Volume bars differently, which helps with the Gaussians (for me anyway) quite a bit. If you search for it, just take the last one (latest).

Thanks LostTrader, the inability to just click on a bar and change it's color is driving me nuts.

 

[romanus]

Quote from Spydertrader:

There you go. Is that a 100 Watt bulb above your head?

- Spydertrader

More like a flash grenade.

AHA!

Still working on the rest of your post.

 

[Avi 8]

Quote from sscott:

My chart for today.........

Sigh...
Please see the discussion concerning the 'point 3' during this period.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1895736>