It's a non-issue for anyone who trades these methods, and as such, requires no solution.
- Spydertrader
Iterative Refinement
- Thread starter Spydertrader
- Start date
It's a non-issue for anyone who trades these methods, and as such, requires no solution.
- Spydertrader
I will double and triple check the chart before posting it. Thank you for your feedback.
As a beginner I don't believe I meet criteria for anything beyond monitoring. I may have expended the definition of monitoring to include attempting to determine change/continuation by the end of the bar. I apologize if my use of the words 'holding through' created an impression that I am jumping ahead of myself.
Although the opening volume does not follow decreasing volume on open,
today looks like a W day coming.
today looks like a W day coming.
Sometimes, the sentiment change we hope to 'see' manifested in a Price bar occurs so close to the 'time' where the bar closes, not enough time remains for the 'signal' to properly develop to a point where the trader 'recognizes' the signal as change. It is at this point where the finer tools come to play because one has reached the limit of accuracy of the coarse and medium level tools.
Again, I do not mean to suggest that one should begin study of Str-Squ and OTR Charts, but I want to point out limitations do exist for only using Coarse and Medium level tools.
Although these limitations express themselves very rarely in any trading day, such events can cause frustration.
Now, the much easier answer is this: You appeared to have conflicting signals. In other words, you had change based on Volume and Volatility, but you had continuation based on What to expect on the BO of a formation. Also, the YM hadn't yet formed a Point Three from the FTT (point One) at 12:26 [close of] bar.
- Spydertrader
Again, I do not mean to suggest that one should begin study of Str-Squ and OTR Charts, but I want to point out limitations do exist for only using Coarse and Medium level tools.
Although these limitations express themselves very rarely in any trading day, such events can cause frustration.
Now, the much easier answer is this: You appeared to have conflicting signals. In other words, you had change based on Volume and Volatility, but you had continuation based on What to expect on the BO of a formation. Also, the YM hadn't yet formed a Point Three from the FTT (point One) at 12:26 [close of] bar.
- Spydertrader
OOOPS ! didn't mean to suggest a breakout was happening at that moment, just looked like a forming W.
Sorry for the delayed response, ET was down.
Thank you for your patience, Spydertrader!
That's exactly what happened and caused the confusion.
That is the key. Had I thoroughly YM, it would have screamed at me: YM is moving pt1 to pt2, therefore change on YM signals retrace not reversal. This is what I get for not annotating thoroughly - confusion. Lesson learned.
Thank you for your patience, Spydertrader!
Change/continuation. Thank you, Tums.