Based on Spydertrader's comments, I think the important context is that the first down Traverse had been completed (including not just Pts 1, 2, and 3, but also a Flaw). Only after this did the lateral form. Because the lateral did not form until after the completion of the dominant down Traverse, we view the lateral as a new, non-dominant Traverse.
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Iterative Refinement
- Thread starter Spydertrader
- Start date
Based on Spydertrader's comments, I think the important context is that the first down Traverse had been completed (including not just Pts 1, 2, and 3, but also a Flaw). Only after this did the lateral form. Because the lateral did not form until after the completion of the dominant down Traverse, we view the lateral as a new, non-dominant Traverse.
If I'm not mistaken, it takes 3 bars to take a Flaw from inception to completion. The first bar is part of a dominant Tape. The second bar is the "Flaw Bar," and the third bar completes the Flaw as it resumes the dominant movement. I drew a pink arrow to the middle bar of the Flaw in the first dominant Traverse (it's a Symmetrical Pennant):
Edit: oops, this post was a response to romanus but I think he pulled his post?
Edit: oops, this post was a response to romanus but I think he pulled his post?
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I did, I am sorry. Another case of looking and not seeing. After you mentioned a flaw in your post, I saw it. Sorry.Quote from treeline:
If I'm not mistaken, it takes 3 bars to take a Flaw from inception to completion. The first bar is part of a dominant Tape. The second bar is the "Flaw Bar," and the third bar completes the Flaw as it resumes the dominant movement. I drew a pink arrow to the middle bar of the Flaw in the first dominant Traverse (it's a Symmetrical Pennant):
Edit: oops, this post was a response to romanus but I think he pulled his post?
Quote from treeline:
Based on Spydertrader's comments, I think the important context is that the first down Traverse had been completed (including not just Pts 1, 2, and 3, but also a Flaw). Only after this did the lateral form. Because the lateral did not form until after the completion of the dominant down Traverse, we view the lateral as a new, non-dominant Traverse.
What was the FTT on the first traverse then? I thought it was pennant BO but it would have to be pennant FBO to be an FTT on the traverse level(from what I understood from past posts). The first traverse had to have a reason for ending . I totally can see the pts 1 2 and 3 confirmed and the point at which you can say there was an FTT but the reason is unclear. Also I have big issues with the fact we have discussions about traverses being completed when increasing volume breaks a lateral and continues to show increased volume after the BO bar. The third traverse of the day(second dominant traverse from what I see goes into a lateral at 11:05 close of bar and doesn't break out of it. If someone can explain to me very logically why that is a traverse compared to situations previously discussed where a BO of the lateral and more increasing volume is needed, I would be much obliged.
At 1105 you don't have your pt3 yet. Discussed, unless I am mistaken, in last year Journal. I think Guavaman raised this issue at some point and Spydertrader clarified it.Quote from LittleMac:
...The third traverse of the day(second dominant traverse from what I see goes into a lateral at 11:05 close of bar and doesn't break out of it. If someone can explain to me very logically why that is a traverse compared to situations previously discussed where a BO of the lateral and more increasing volume is needed, I would be much obliged.
Quote from romanus:
At 1105 you don't have your pt3 yet. Discussed, unless I am mistaken, in last year Journal. I think Guavaman raised this issue at some point and Spydertrader clarified it.
I didnt say the pt 3 came at 11:05. I'm saying it didn't come at all from what I see. The 11:15 bar, 11:20 bar, and 11:25 bar are all stuck in that lateral. The annotation for pt 3 comes at 11:15 end of bar. What I'm saying is it doesn't come here either. I said the LATERAL STARTED at 11:05 end of bar
I think the traverse is completed when it went through the sequence of pt.'s 1, 2, 3 and change signal.Quote from LittleMac:
Also I have big issues with the fact we have discussions about traverses being completed when increasing volume breaks a lateral and continues to show increased volume after the BO bar.
I think the third traverse of the day (second dominant traverse) is completed after pt3 on 11:15 eob and change signal 11:20 eob (Jokari Window)Quote from LittleMac:
The third traverse of the day(second dominant traverse from what I see goes into a lateral at 11:05 close of bar and doesn't break out of it. If someone can explain to me very logically why that is a traverse compared to situations previously discussed where a BO of the lateral and more increasing volume is needed, I would be much obliged.
Quote from romanus:
I think the traverse is completed when it went through the sequence of pt.'s 1, 2, 3 and change signal.
I think the third traverse of the day (second dominant traverse) is completed after pt3 on 11:15 eob and change signal 11:20 eob (Jokari Window)
I understand and agree with you on the first traverse. The second dominant traverse is what gets me. If we could do the ehorn drill with that one showing tapes Id appreciate it
....Id say the 10:40 to 10:50 end of bar are our dominant down tape. The 10:55 and 11:00 bars are our non-dominant tape. A lateral starts from the 10:55 close of bar. At 11:15 a break of that lateral retrace occurs followed by the next bar 11:20 end of bar showing increased red and our final dominant tape. So although 11:15 is where our pt3 lies it is not confirmed until 11:20 increased red volume. Feel free to correct me where I'm wrong. The signal for change on this third traverse(second dominant traverse) escapes me although I believe I read it was peak volume.