Iterative Refinement
- Thread starter Spydertrader
- Start date
My whole point (if you look at my first post today regarding the anticipated blue channel) is that I was expecting that movement to be a lateral L2R retrace.But you can't expect that because the orange pt3 formation is a traverse of the pink(fuchsia?) pt3 down channel. So you need another non-dom traverse to take the price back to the RTL of the pink(fuchsia?) pt3 down channel to complete it. Can a lateral retrace do that. It can't. Therefore, we need pt3 up formation, in this case the blue one.
For those trading on the 'Tree' Resolution Level (Traverses), the market has provided no additional signals for change since 11:00 AM Eastern Time. Again, for this specific trading fractal, one should have continued to hold long through 1:00 Pm Eastern Time.
In addition, no signal for change developed on the 1:00 PM [close of] ES Bar, and as such, one needs to hold long here as well.
Again, if you 'see' things differently, or you 'just don't see the market this way,' or you had additional trades while on the same trading fractal, or your annotations differ, then review my previous post for the exact recommendations of what to do next.
Read the previous post several times if need be in order to make absolutely sure you haven't 'translated' the intent of my post through your own mental filters.
HTH
- Spydertrader
Edit: All times Eastern and [close of] Bar
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1995275>
In addition, no signal for change developed on the 1:00 PM [close of] ES Bar, and as such, one needs to hold long here as well.
Again, if you 'see' things differently, or you 'just don't see the market this way,' or you had additional trades while on the same trading fractal, or your annotations differ, then review my previous post for the exact recommendations of what to do next.
Read the previous post several times if need be in order to make absolutely sure you haven't 'translated' the intent of my post through your own mental filters.
HTH
- Spydertrader
Edit: All times Eastern and [close of] Bar
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1995275>
