Iterative Refinement
- Thread starter Spydertrader
- Start date
Take the following advice in a positive fashion.
It has, no doubt, become extremely obvious to many reading along that you have skipped over important material from last year's journal, as well as, this year's journal.
I encourage you to stop where you are, and review the material presented.
After you obsorb more of the fundamentals, you should 'see' things far more clearly.
- Spydertrader
The logic here is as follows:
change can show itself in a number of different ways;
these ways are divided into two groups: Traverse Level Change and Tape Level Change;
Tape Level Change is the type of change that only shows when price travels within the traverse without leaving the Traverse;
since, if one monitors on Traverse level Resolution, the only type of change that matters is the one that can take the price outside of traverse and this is the type of change one is looking for;
Tape Level Change can not take price outside of traverse and therefore does not occur on the Traverse Level;
increased volume with decreased volatility is the Tape Level Change and can not take price outside of the Traverse;
Therefore one can not have an FTT of the Traverse
the 11:25 bar that closed at 11:30 had increased volume with decreased volatility, therefore it is not an FTT of the blue traverse;
Q.E.D.
Here is a Jokari Window for convenience.
Credit for what I said with respect to bars 4 and 5 must go to Romanus for his analysis of the 7-22 11:30 ES bar. The decreasing red of bar 6 in combination with a lower high and lower low means hold with respect to what one will do with bar 6. It confirms what was anticipated from the bar 4/5 comparison. The tape 'ftt' of bar 6 is not an ftt but rather a tape flaw and this is confirmed by the increasing red volume plus lower high and lower low of bar 7.
lj
lj
Im following the advice that was given weeks ago and just annotating right now. I'm doing past charts and new charts everyday(absolutely no trading at all) then asking questions when there are discrepancies in annotations.
With all due respect the problem I had with seeing the annotations seemed to filter to some others in the group thus I think it was a positive discussion for the forum.
Also, everytime the discussion goes south and there is a question or area of concern for a trader, its usually the same progression, half answers are given and then when it gets to the point where people feel completely lost and are begging for answers.. it is suggested to veer from the path and go another direction.
You yourself told me around two weeks days ago....
"Start by learning to annotate a chart and following the direction previously provided to you and romanus"
WHICH WAS....
Set aside what you think you know for now, and focus on creating a thoroughly annotated chart.
Close everything else. You do not need it.
Often, you'll know change on your trading fractal is forming. Sometimes, you'll have the ability to 'see' a Point Three or FTT forming before the bar completes. Focus your attention on these points in time. How did you know? How does this differ from times where you cannot 'see' things clearly until later? How are they the same?
Im doing this, arriving at honest questions in the process and bringing them up. My annotations are improving because of this. But when questions come up, it's always feels like a "Go Away" type reaction from the teacher.
I respect all the time and effort you put into this.... but in being honest your methods of teaching can be very frustrating. But what the heck I have to deal with it.... I believe in the system and I want to learn it so your the teacher....your the top dog...and too bad for me. Im a pretty honest person so Ill tell you the truth (and the common sense notion)that not every teacher I ever had did I say"This guy is the most enlightening person Ive ever learned from, but like I said I'm on a road to somewhere I believe is profitable and you have the roadmap. How you choose to use the roadmap is up to you.
I think the more I read the posts today the more confused I am getting 
It seems that we have decided that tape level change (decreasing Vy with increasing V) hints at an upcoming fan..
Jokari changes on the other hand are traverse level change, leading to a traverse forming in the opposite direction.
In the attached chart (from May), it appears that 3 consecutive Jokari changes ( HH on decr. volume in an uptrend after increasing volume ) lead to 3 consecutive fans [note the blue highlights]. This seems to contradict what we have been saying about traverse level changes. The possibility exists that I have misinterpreted Jokari changes .. I apologize in advance if that is the case
It seems that we have decided that tape level change (decreasing Vy with increasing V) hints at an upcoming fan..
Jokari changes on the other hand are traverse level change, leading to a traverse forming in the opposite direction.
In the attached chart (from May), it appears that 3 consecutive Jokari changes ( HH on decr. volume in an uptrend after increasing volume ) lead to 3 consecutive fans [note the blue highlights]. This seems to contradict what we have been saying about traverse level changes. The possibility exists that I have misinterpreted Jokari changes .. I apologize in advance if that is the case
This is an attempt to list all ways in which a change can materialize and separate them into two groups: Tape Level and Traverse Level.
DRAFT Version 1
Tape Level Change
DRAFT Version 1
Tape Level Change
- Increased Volume with Decreased Volatility
- IBGS
- Outside Bar
- Lateral Movement on Increased Volume
- Spike Bar
- Second Bar of the Pennant on Increased Volume
- Price itself (in conjunction with context)
- ?
[/list=1]
Traverse Level Change- Jokari Window (Decreasing Volume after Increasing Volume)
- Peak Volume
- Formation Break Out FBO
- VE
- FTT
- LTL Touch
- Formation BO on Increased Volume without more Increased Volume Followed
- Point 3
- ?
[/list=1]
Let's make this a part of the collaborative effort.
It does not hint at an upcoming fan. It hints at the fact that the change will result in price moving within the traverse. RTL bo on decreased volume hints at an upcoming fan and when the traverse fan, we still find ourselves in the same, yet decelerated traverse. Just like the Tape Level Change said we would. Howver it does not mean that the Traverse Level Change will necessarily send the price outside the traverse. It's just that one can and the other can not.Quote from Jander:
I think the more I read the posts today the more confused I am getting
It seems that we have decided that tape level change (decreasing Vy with increasing V) hints at an upcoming fan..