Quote from Spydertrader:
And, do you mean to say that 'several bars' told you to go long? This is your 'signal?'
- Spydertrader
It was the increasing black bar ( 64 ), inside bar of Sym pennant on increased volume.
Iterative Refinement
- Thread starter Spydertrader
- Start date
It was the increasing black bar ( 64 ), inside bar of Sym pennant on increased volume.
I honestly did not have confirmation on my actual FTT bar, until the point 3 bar formed.
I do understand I need a beginning to what was the end of the up traverse, and must have a reason for that BAR 1 FTT.
I need to seek the answer to the reason for change on my chart, the FTT, and what that was.
As mentioned in my previous post, there were other IBGS bars inside lateral movement on increasing red volume that went nowhere. Bar 20, Bar 34, bar 52.
This bar 55, was not a confirmation for me till the point 3 bar 61.
I need to find out why if change took place on bar 55, and what it was, and why I did not recognize that change till some bars later. Or if I have created something that does not exist. I have some work to do.
Thank you Spyder for all the support here.
When Spydertrader mentioned that Peak Volume requires 3 bars in order to create an acceleration of the Gaussians, I understood him to mean that Peak Volume requires a 3 bar sequence such that:
1. The second bar in the sequence shows an increase in Volume over the first bar, and
2. The third bar in the sequence shows an even larger increase in Volume over the second bar.
For example, if Bar 1 of the sequence shows a Volume of 20,000 contracts, and Bar 2 shows a volume of 30,000 contracts, then Bar 3 must show a Volume of no less than 40,001 contracts in order to qualify as Peak Volume.
Edit: Keeping in mind some of the nonsense I posted last week, I recommend waiting until we get confirmation from our mentor before taking the above as a correct definition...
You may not be correct with respect to LM not being considered a traverse.
http://www.elitetrader.com/vb/showthread.php?s=&postid=1986324#post1986324
http://www.elitetrader.com/vb/showthread.php?s=&postid=1985726#post1985726
