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Iterative Refinement
- Thread starter Spydertrader
- Start date
increasing non-dominant volume in non-dominant traverseQuote from Avi 8:
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Thank you Avi8 for your input.
This time, your additions were no surprise. I consciously did not label your heliotrope channel as a pt3 as I saw it more as a tape, but did see it as a traverse. Your orange channel was even steeper than the tape I already had, so didn't annotate it as I already had something very steep to guide me. Finally, the blue channel I did not annotate as it was so very close to the CO channel.
The common thread here is this: sometimes I see an opportunity to annotate a channel, but choose not to if it seems to duplicate an existing effort (or not provide new information) and I hate it when the chart gets so full of lines that it confuses me. I can honestly say that what you drew, I was aware of. That being the case, is it legitamate for me to have chosen not to draw those?
ES U8 daily Chart June 27/ 2008
I did not get to post a chart last evening so this is the data for that daily bar.
June 26 daily-
Daily bar made a LL and a LH on increasing volume and volatility.
Low of daily bar for June 26 invalidated the FTT on June 24 of the white dominant traverse.
Range = 39.25 points
volume = 564,946 increase over June 25.
Close of daily bar = 4% of the range.
Daily data for June 27 2008:
Daily ES bar made a LL and a LH on decreasing volume and volatility.
This looks like change on volume and volatility, also increased volatility expansion.
Lows today were 1272.75.Low of March 17 was 1273.
That invalidates a larger point 3 upchannel.
ES daily bar range = 19 points
Volatility to previous bar = 48%
Volume = 89% of previous bar
Close of bar = 39% of range today
I did not get to post a chart last evening so this is the data for that daily bar.
June 26 daily-
Daily bar made a LL and a LH on increasing volume and volatility.
Low of daily bar for June 26 invalidated the FTT on June 24 of the white dominant traverse.
Range = 39.25 points
volume = 564,946 increase over June 25.
Close of daily bar = 4% of the range.
Daily data for June 27 2008:
Daily ES bar made a LL and a LH on decreasing volume and volatility.
This looks like change on volume and volatility, also increased volatility expansion.
Lows today were 1272.75.Low of March 17 was 1273.
That invalidates a larger point 3 upchannel.
ES daily bar range = 19 points
Volatility to previous bar = 48%
Volume = 89% of previous bar
Close of bar = 39% of range today
Attachments
Quote from capcom:
The blue up channel is not a valid up channel, correct? Because their is no increasing black Volume!
Gary
I wondered this too. Upon studying Spydertrader's older ES charts I found cases of pt3 channels drawn in where no inc vol occurred after the pt3 was annotated.
I did notice that (most every time) I found this, the channel in question was a non-dom traverse of a bigger constructed channel. Also, we are all humans, and I wouldn't expect anyone to always be perfect every time with every annotation.
Quote from gravitonium77:
I did notice that (most every time) I found this, the channel in question was a non-dom traverse of a bigger constructed channel. Also, we are all humans, and I wouldn't expect anyone to always be perfect every time with every annotation.
You've provided an excellent example of critical thinking.
Through your research, you've narrowed down the choices to a set of possibilities numbering two. Either, one, I occasionally have difficulty differentiating between increasing and decreasing Volume (even with automated Gaussians on my chart), and as a result, need to apply more focus on the Monitoring portion of the M-A-D-A Process, or two, I chose to post the chart in question for a specific reason.
Nicely done.
- Spydertrader