Iterative Refinement

Quote from romanus:

If you adjust your dark brown down channel by moving pt3 to 1130 eob bar (currently labeled pt1 of the red down channel), it would appear that your first red down channel and green pt3 up channel have built a lateral channel. Your second red down channel (1135-1210 eob) would appear to be a dominant traverse of larger pt3 down channel, which in turn represents dominant traverse of lateral channel which is being widened down.
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Thanks romanus, yes lateral is the name of the game this morning. If you look at the 20sma from the open to 12:40, it stayed between 1277 and 1274. I see what you are saying about the overall larger dominant down (barely) channel and the last dominant traverse.
 
Forgot to mention that I didnt trade it. It was in a journal that I was monitoring. I was just giving my thought process throughout the minute by minute or 5 minute by 5 minute progression of the stock based on PRV estimations on the 30 min chart.

And I have been reading reading over and taking notes on the first 200 pages or so of the Futures journal for about a week now and I dont know if Im missing something but from the pages I was led to believe, it was about spotting FTTs. I understand through properly annotated charts but it is mentioned many times in there that with your chart anytime you think you have an FTT to take action and wait for one of the three end effects.
 
Quote from Spydertrader:

The above quoted text represents the same question (worded differently this time) you've posted numerous times. If the market has started moving from Point One to Point Two, it must also then move from point Two to Point Three, and finally, it must also then move from Point Three and toward the next signal for change.

A finite number of possibilities exist which create such an environment. Learn them, and you will then know the answers to these questions.

Ironically, you already know the answers. You've simply yet to realize it.

- Spydertrader
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Thanks for your time and provided insights. I didn'd realize I was trying to find answers to the same question.:confused: One more puzzle to solve.


Quote from Spydertrader:

Yes. The First 'Blue' FTT should have been colored Lime green. Thanks for allowing me the opportunity to clarify.

- Spydertrader [/B]
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No need to be thankful.:cool: I'm glad I could provide some "clarification" . :p
 
Quote from LittleMac:

I understand through properly annotated charts but it is mentioned many times in there that with your chart anytime you think you have an FTT to take action and wait for one of the three end effects.
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I recently suggested a course of action with respect to how to develop an ability to create thoroughly annotated charts. At that time, I recommended you review the advice I provided to romanus. My recommendations provided a 'recipe' for moving from where you currently find yourself (unable to correctly complete the 'M' portion of the M-A-D-A process) to a place where you have the ability to 'see' that which you have, in the past, failed to grasp.

Rather than follow this 'recipe' I provided, you have, instead, chosen to invent your own. Nothing wrong with doing things your own way, but when someone points out that you have failed to follow directions, one should not retort with a description of the different set of 'ingredients' chosen.

In other words, if one asks how to bake an Apple Pie, and after receiving a list of instructions, a person chooses to use Oranges, instead of Apples, one should clearly understand why the Pie doesn't taste the same as anticipated.

You've chosen to do things your own way. Fine by me. You have a history of following your own path. However, when you post things as you did above, I 'see' it this way ....

Quote from LittleMac:

I understand Spydertrader has told me exactly what I need to do, and the order in which to do things. Spydertrader even provided a set of drills to help move me along the way. However, I have chosen, instead, to follow a different set of instructions, for no other reason than, I wanted to do so. Now, things aren't working out how Spydertrader said they should, and I am wondering why?
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Start by learning to annotate a chart and following the direction previously provided (to both you and romanus).

- Spydertrader
 
Quote from Spydertrader:

Start by learning to annotate a chart and following the direction previously provided (to both you and romanus).
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  1. Level 1 Drills: annotating ES channels, gaussians and formations (+ lateral movement)
  2. Level 2 Drills: YM annotations leading ES annotations
  3. Level 3 Drills: Flaws and FTT's on ES
  4. Level 4 Drills: Flaws and FTT's on YM leading ES
    [/list=1]
    Does it look like a reasonable progression? It does resemble Futures Journal Syllabus.
 
Quote from romanus:

Does it look like a reasonable progression?
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One day, I hope you come to realize how hilarious this question is. Write the post down and save it. When you 'see' what I expect you to find, let me know if you don't laugh your ass off at your last post.

- Spydertrader
 
Quote from Spydertrader:


Compare your chart to mine. What have I included they you have not? Do you feel the missing pieces of your annotations might hold some significance for understanding? What I you included which I left out? Did I simply forget to include something? Or, might the ommitted annotation hold less importance than attributed in your mind?

- Spydertrader [/B]
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Thanks Spydertrader for your evaluation,
Several differences exist from comparing charts.

1. Your guassians are far more complex than mine (time, experience, and knowledge)

2. You don't show a pt3 down channel from bar 2 with a pt 2 on bar 8, and a pt 3 at bar 12, I show increasing red volume on bar 14 to confirm the channel. Was this not a valid channel?

3. You don't show a chubby tape at bar 8 with an ftt of the CT at bar 12

4. Is your bar 16 a IBGS? (lower low then higher close than open)

5. I have no FBO at bar 22 (it should be there because price broke the RTL)

6. I have no FBP at bar 25 (I need to fix my QT software to run on the exact time, today it was running 15 seconds slow which sometimes changes the open, close and the pennants)

7. You show a lateral retrace at Bar 26, 27, 28, and 29, which evolved into a lateral traverse. Which became larger downtrend channel which started on bar 25 and formed a pt 3 on bar 35.



My chart reflects my attempt at a "fully annotated chart". I know I still have a long way to go. If I see it, I put it on the chart, if I don't see it, thankfully there are more experienced people like you to point me in the right direction.
Thank you,
sscott
 
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