Iterative Refinement

[LittleMac]

Quote from Spydertrader:

What started as a Traverse (built by tapes) widened itself out to the size of a channel...

...For clarity sake, the Blue Point Three began as a Traverse, became a channel, then 'fanned' out to form the Aqua Channel.

- Spydertrader

Was the orange down channel something that could only be seen in real time because I can only monitor equities in real time on my ESignal?

Also could you elaborate on the above statement Ive been staring at the ES for about an hour trying to put that and other statements/patterns togetrher and have come up with little.

 

[Spydertrader]

Quote from LittleMac:

Was the orange down channel something that could only be seen in real time?

Nope. It's there - right now - wondering why you can't see it. Perhaps, the advice previously posted (with respect to drills) might aid your search.

Quote from LittleMac:

Also could you elaborate on the above statement Ive been staring at the ES for about an hour trying to put that and other statements/patterns togetrher and have come up with little.

The Royal Blue Traverse began by 'tapes' running through the sequences from Point One to Point Two to Point Three. Once completed, Price ran upwards forming what Jack once termed 'a rocket' widening out the Royal Blue Up Traverse in the process. After 'rocketing' back down, Price then formed an Up Traverse (green on my charts) fanning out slightly as Pace declined. Because the market had formed a Dominant Up Traverse, it needed a Non-dominant Traverse (Pink on my chart) which widened out the channel to its appropriate width and slope. To complete the sequence, the market needed one final Dominant Traverse (second Royal Blue Traverse on my charts).

The signal for change, and subsequent Pink Traverse which followed, ended the life of the Up Channel (Aqua).

- Spydertrader

 

[LittleMac]

Quote from Spydertrader:

The Royal Blue Traverse began by 'tapes' running through the sequences from Point One to Point Two to Point Three. Once completed, Price ran upwards forming what Jack once termed 'a rocket' widening out the Royal Blue Up Traverse in the process. After 'rocketing' back down, Price then formed an Up Traverse (green on my charts) fanning out slightly as Pace declined. Because the market had formed a Dominant Up Traverse, it needed a Non-dominant Traverse (Pink on my chart) which widened out the channel to its appropriate width and slope. To complete the sequence, the market needed one final Dominant Traverse (second Royal Blue Traverse on my charts).

The signal for change, and subsequent Pink Traverse which followed, ended the life of the Up Channel (Aqua).

- Spydertrader

Now that I remember those drills will probably come in handy. I believe it was posted as more of a rule set when I read it if someone could steer me to it.

So after the "rocket" extended the width of the Royal Blue traverse, it "rocketed" back down but it did not rocket back down in a traverse, it came back down in a tape?(and not a traverse) I understand this has significance but not exactly why yet?

I understand that once the green traverse was formed that there had to be a non-dom pt 3 traverse formed(pink and then another dom pt 3 up traverse(royal blue) to form the Pt 3 channel(aqua).

Without sounding repetitive does this mean that because the "rocket down"after the initial Pt 3 royal blue traverse only was formed by a tape rather than a traverse that we should have expected the pt 3 green dom traverse because we had not yet seen a pt 3 down traverse which we need to form a pt 3 channel??

I've just gone cross-eyed trying to explain this.

 

[dkm]

Quote from Spydertrader:

For clarity sake, the Blue Point Three began as a Traverse, became a channel, then 'fanned' out to form the Aqua Channel.

- Spydertrader

Spyder,

Thank you for posting the correct signals for trading at the “traverse” level. Unfortunately I only managed to correspond with your first and last signals (09:50 short and 15:15 short).

The short at 09:50 (ibgs) begins my first traverse. The VE at 09:55 and the new pt3 short at 10:05 give us the orange steeper traverse. The 10:10 bar gives us a LL with decr red vol but since we had no flaw since the pt3, I did not see this as a signal to go long. We have decr black vol at the rtl bo at 10:20, requiring a mandatory fan if I remember correctly, and the incr red vol at 10:35 seemed to confirm my hold through what I saw as a dip. With an fbp bo on incr red vol (10:35) we now needed more incr red vol on 10:40, which didn’t happen, and THIS I saw as the signal to go long. It turns out to be the p3 of the blue long traverse.

VE appears at 10:55 and my tape widens with a sym penn (11:00) and a new p3 long at 11:05 and more VE. Is THIS the point where my blue traverse becomes a channel?

More VE arrives at 11:10, together with peaking vol. A lat formation is formed by 11:15 and 11:20 but THEN we have ibgs with incr vol, which I saw as an FTT and a signal to short. The next bar, 11:30, gives incr red vol on rtl bo but you suggest I should have held long through this. At the time I saw this as the beginning of a new short traverse, LTR across the blue channel. Bar 11:35 begins lateral formation (11:40, 11:45) and then 11:50 gives us a lat fbo, ibgs, blue rtl fbo, and at the 20sma for good measure. This seemed like a good place to get long.

So begins a new long traverse (light green) and after lateral movement beginning at 12:05, I see a new at 12:30, confirmed by incr black vol at 12:35. I saw the sym fbo at 12:45 with incr vol as an FTT of my light green traverse, and a short signal. However, 12:50 gives rtl bo on decr vol and I am anticipating rtl fan and a rev to long. Bar 13:00 confirms a new pt3 long with incr black vol and a shallower orange traverse. VE appears on 13:05 but I do not see this as a signal to short. Bars 13:10 and 13:15 give a lat formation but I see 13:15 as an ibgs and FTT of my orange traverse and a signal to short.

Pt3 of my new pink short traverse arrives at 14:00 and a sym penn forms at 14:15, which I did not see as a signal to go long as we had not had a flaw or ve since pt3. What is the signal to go long at 14:15? However, 14:20 forms an ob and sym bo on incr black prv and my signal to get long. So begings the new long blue traverse.

The ibgs/ ob at 15:15 was a clear signal to get short.

I think that I am getting confused by “traverses becoming channels”. You appeared to hold through a non dom traverse from 11:10 to 11:50 and also held through what appeared to be an FTT at 12:45. I have clearly missed something in monitoring.

All times end of bar.

 

[Spydertrader]

Quote from dkm:

I have clearly missed something in monitoring.

This is not a problem at all. It is an opportunity to finish the journey earlier than expected. Set aside what you think you know for now, and place your mindset in the perspective of someone who never read any of this stuff before, and set out to learn to draw tapes, traverses and channels for the very first time.

Remember, you don't know anything and have decided to learn to monitor. Keep this mindset in place until you 'see' that which you missed the first time through.

Twenty reps on charts should do it.

- Spydertrader

 

[Jander]

Quote from Spydertrader:

This is not a problem at all.

Twenty reps on charts should do it.

- Spydertrader

I am getting lost on the same sequences David.. Lets do the 20 charts and see what we can come up with.

 

[Tums]

Quote from Jander:
I am getting lost on the same sequences David.. Lets do the 20 charts and see what we can come up with.

We should rename the thread to Spyder's Boot Camp. ;-)>

 

[Tums]

note: 2:00 pm FOMC minutes

 

[gravitonium77]

Dear Spydertrader,

Please feel free to ignore this post if inappropriate, I need to be a bit cathartic

I missed yesterday live, but reviewed your posts last night. Didn't really sleep, because I was so incredibly depressed. My charts have been matching what you post in the recent past almost perfectly (yes, even the gaussians). I have been monitoring only. Clearly I don't see what you see.

Yet, I have reviewed and re-reviewed the journals. Bar 8 yesterday was clearly decreasing dominant volume with LM. TIme and again I can find the journals state this is a clear hold at the beginner level, and not a reverse.

Likewise, the 12:10 bar close you referred to as needing to know it CAN NOT be an ftt, was increasing dom volume with LM, which has been stated as a reverse.

Without having some clue what we are to see different by monitoring makes it almost impossible to remove oneself from seeing the market the way each of us has learned to see it (that is, the incorrect way).

EDIT: can what needs to be learned/scene be done with charts at EOD, static charts? Or does it need to be done live to get to the aha?

 

[guavaman]

Quote from gravitonium77:

Didn't really sleep, because I was so incredibly depressed. My charts have been matching what you post in the recent past almost perfectly (yes, even the Gaussians). I have been monitoring only. Clearly I don't see what you see.

Bar 8

12:10 bar

I have been studying this method for over a year. No less than 60 hours/week and more often more. This is not to say I have done more or less than you, but others have done more than myself; if for no other reason that others have been at longer than I have. It takes a whole bunch of time and questions for the story unfold.

Keep the faith.