Iterative Refinement

[Tums]

Quote from romanus:

today

LOL, you have gotta get rid of that Prorata Volume V2... for now.

;-)>

 

[romanus]

Quote from Tums:

LOL, you have gotta get rid of that Prorata Volume V2... for now.

;-)>

Most of those gaussians are work of my mind, the gaps are where the mind stopped working and the machine didn't make sense. Still work in progress.

 

[romanus]

Spydertrader, if you would be so kind when you have a moment - I am going through this post:

http://www.elitetrader.com/vb/showthread.php?s=&postid=1451061#post1451061

Seventh paragraph down, starting from the second sentence:

Quote from Spydertrader:

Note the Brown Down Channel on the chart snippet. This channel represents a 'steeper' carryover channel (and one I neglected to annotate on my original chart). By annotating this 'steeper' Point Three Channel, we can easily see how Price enters the Lateral from the short side as our FBO becomes a Point Three of the down trend. Had we annotated correctly, even if we missed seeing the 10:05 Bar (Bar Eight) as an FBO, everyone can most certainly 'see' it is a Point Three Down Channel.

I looked at both snippet with pinkish arrows and the original chart, but I could not find any increasing red volume if pt3 is placed on that FBO until the orange channel is formed.

Is this 'steeper' carryover channel simply drawn by mistake or am I missing some fundamentals?

Your original chart for that day:

http://www.elitetrader.com/vb/attachment.php?s=&postid=1450320

Thank you

 

[ehorn]

After debriefing I have made some notes/corrections.

 

[Spydertrader]

Quote from romanus:

Is this 'steeper' carryover channel simply drawn by mistake or am I missing some fundamentals?

1. The FBO refers to the red channel as it is also marked in the same color.

2. The Point I wanted to convey had to do with entering a lateral from one side and exiting out the other.

3. I used the FBO as a Point Three and not 'increasing volume' ( See Mak's channels) as is the convention.

4. I do not recommend using FBO's as Point Threes unless they also confirm with 'increasing volume' for beginners.

- Spydertrader

 

[Spydertrader]

Quote from ehorn:

After debriefing I have made some notes/corrections.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1908035>

Note the 'removed' channel. Due to the software default bar colors, the 'removed' channel appears to not confirm a Point Three Up channel. However, on closer inspection, we 'see' something entirely different - a confirmed Point Three and a signal for change.

- Spydertrader

 

[ehorn]

Quote from Spydertrader:

Note the 'removed' channel. Due to the software default bar colors, the 'removed' channel appears to not confirm a Point Three Up channel. However, on closer inspection, we 'see' something entirely different - a confirmed Point Three and a signal for change.

- Spydertrader

Sym BO - confirm PT3
Lateral FBO then IGBS - change

I need to look into configuration changes for Ensign (or get a new charting package ) - the coloring of the bars is messing with my mind

You are very generous with your time Spyder!

 

[romanus]

Quote from Spydertrader:

1. The FBO refers to the red channel as it is also marked in the same color.

That part is clear.

Quote from Spydertrader:

2. The Point I wanted to convey had to do with entering a lateral from one side and exiting out the other.

That part is also clear.

Quote from Spydertrader:

3. I used the FBO as a Point Three and not 'increasing volume' ( See Mak's channels) as is the convention.

It makes sense to me now as I noticed difference in his approach to drawing channels but couldn't quite put my finger on it.

Quote from Spydertrader:

4. I do not recommend using FBO's as Point Threes unless they also confirm with 'increasing volume' for beginners.

I will not.

Thank you, Spydertrader for your response. I appreciate you taking the time to answer.

 

[romanus]

Quote from ehorn:

Sym BO - confirm PT3
Lateral FBO then IGBS - change

I see increased volume on bar 29. bar 29 also went higher ( higher than previous bar) It should be colored black. Ensign colors bars by comparing close with open.

Bar 29 has increasing black volume => pt3

 

[ehorn]

Quote from romanus:

I see increased volume on bar 29. bar 29 also went higher ( higher than previous bar) It should be colored black. Ensign colors bars by comparing close with open.

Bar 29 has increasing black volume => pt3

Yep, that is correct, thanks for pointing that out. That gives us confirmation. I believe Spyder is also saying 29 signals change as well.