Iterative Refinement

Quote from romanus:

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I am certain this will come off sounding unnecessarily terse, but is it really necessary to give a play by play when everyone is looking at the same charts?

Insightful remarks and penetrating questions are great, filling the thread up with common observations is another. IMHO, not a productive use of the Journal.
 
Quote from guavaman:

I am certain this will come off sounding unnecessarily terse, but is it really necessary to give a play by play when everyone is looking at the same charts?

Insightful remarks and penetrating questions are great, filling the thread up with common observations is another. IMHO, not a productive use of the Journal.
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You're right. I got carried away by all the excitement:D I will try to contain my enthusiasm.
 
Quote from Padawan:

Looking back, the previous bar at 1030 was an OB and a pennant BO on increasing volume. Then we got more increasing red (which broke the lat movement) at 1032 signifying the trend was down.

(we know this, in part, because it took out the low at 1018)


So, I think the BO of the lateral is not really relevant
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Exactly, the point of needing more inc volume in same direction after bo of lateral is to confirm dominance. Those two things let us know that down has definitely reestablished dominance.

It was not a break of an accelerated up channel
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It wasn't? While the move didn't last long enough to establish an up channel on the ES, we do have an up channel on the YM. So now, what does that tell you about price movement on the 10:32 bar and how does that change your expectation?
 
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