Iterative Refinement

[Spydertrader]

Quote from romanus:

but he is the only one who knows for sure.

Do not assume silence repesents a failure to comprehend (in all cases).

- Spydertrader

 

[romanus]

Quote from palinuro:

If I'm not mistaken, the chart for SOLF, which Spydertrader posted as soon as this discussion started, also shows an unconfirmed blue up channel. Perhaps comparing it to the first chart will help clarify what he is seeing....

Well, the price returns into the channel on both bars marked pt3. That much both charts have in common. Also in both charts bars marked pt3 exhibit higher volatility(Hi-Low range) compared to the previous bar. PV relationship suggests that it would take more volume to move price greater distance (e.g. 7 ticks) then it would moving price shorter distance (e.g. 4 ticks). And since both bars marked pt3 show price traveled greater distance compared to the previous bar...

But volume is volume and there's no increasing black at or after pt3.

Looks like something MAK would have drawn. He did use a slightly different approach with respect to pt3's, which I did not investigate in greater details.

I am left with more confusion then I started on Saturday. Back to the Flaw drills then.

 

[Spydertrader]

Quote from romanus:

I am left with more confusion then I started on Saturday. Back to the Flaw drills then.

When one needs to review a process to insure all steps required exist, one starts at the beginning of the process itself. In our case, the process begins with the letter 'M' - Monitoring.

- Spydertrader

 

[romanus]

Quote from Spydertrader:

When one needs to review a process to insure all steps required exist, one starts at the beginning of the process itself. In our case, the process begins with the letter 'M' - Monitoring.

- Spydertrader

I guess in my case the need exists to go back to tape/channel drawing drills.

 

[Spydertrader]

Quote from romanus:

I guess in my case the need exists to go back to tape/channel drawing drills.

I suspect the boat in which you currently find yourself is quite crowded. Whether or not someone understands they, too, need to be a passenger represents another matter entirely.

- Spydertrader

 

[romanus]

Quote from romanus:

Looks like something MAK would have drawn. He did use a slightly different approach with respect to pt3's, which I did not investigate in greater details.

Here's an example from this post. Note the long channel around 0900 and short around 1400 (2 pm). Looking more closely at both blue chanels on Spydertrader's charts I notice that both started as tape with increasing volume as price breaks RTL. May have something to do with what is described on p.92 of Channels_for_BW as tape extensions with pt2 pushed out.

 

[Spydertrader]

Quote from romanus:

Here's an example from this post. Note the long <strike>channel</strike> Traverse around 0900 and short around 1400 (2 pm). Looking more closely at both blue <strike>channels</strike> Traverses on Spydertrader's charts I notice that both started as tape with increasing volume as price breaks RTL. May have something to do with what is described on p.92 of Channels_for_BW as tape extensions with pt2 pushed out.

Fixed it for you. I annotated the Channel on both previous charts (MELI and SOLF) in thick red.

- Spydertrader

 

[romanus]

Quote from Spydertrader:

Fixed it for you. I annotated the Channel on both previous charts (MELI and SOLF) in thick red.

- Spydertrader

Thank you very much. Enlightenment=AHA!²

 

[Tums]

Quote from cnms2:
See chart: no increasing black intraday.

Where on Earth did you find those colors ?!?!?

 

[romanus]

Attached is a review of the tape drawing mechanics leading to pt3 channel construction. Adapted from video