I'm gonna go out on a limb and say we only had 4 traverses today and 1 channel. I have my chart up. I have one big traverse, the blue one where some may have a channel. I annotated how I've been annotating it following all the rules from my recollection learning from posts and comparing charts and this is what I came up with. It could be dogcrap but this is what i have. Feel free to comment.
Iterative Refinement
- Thread starter Spydertrader
- Start date
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2018555>
LittleMac,
you were right about that lateral movement. LOL. My argument in that respect was totally wrong.
Also disregard my comments about where traverse ends. Upon further thinking the only explanation I can come up with - is it ends because the price stops moving. And so I get to annotate them as such after they are over. As far as my thinking in terms of pt.'s 1, 2, 3 and change signal - it is also totally wrong. There's plenty of traverses that show a change signal (Jokari, Peak Volume, etc.) and then happily continue going in the dominant direction, laughing and showing some more change signals once in a while
, before they decide to stop.
So I think I misinterpreted the point that was made today about sequences.
you were right about that lateral movement. LOL. My argument in that respect was totally wrong.
Also disregard my comments about where traverse ends. Upon further thinking the only explanation I can come up with - is it ends because the price stops moving. And so I get to annotate them as such after they are over. As far as my thinking in terms of pt.'s 1, 2, 3 and change signal - it is also totally wrong. There's plenty of traverses that show a change signal (Jokari, Peak Volume, etc.) and then happily continue going in the dominant direction, laughing and showing some more change signals once in a while
, before they decide to stop.So I think I misinterpreted the point that was made today about sequences.
I can vaguely see that you have a blue up traverse from what's not just yet cut off on this chart. In my attached chart, the black circled lateral breaks at the red circled price bar in my chart on increasing black volume. The next bar in the yellow circle is on increased red volume as circled in pink on the chart. This says to me the BO of the lateral was increasing black volume on one price bar(red circle) without further increased black volume continuation. Thus it does not complete the pt 3 traverse. Obviously this is wrong. Why??
I doubt I monitor on the same fractal as you.
- Spydertrader
Traverse level 5 minute ES only? Thats the fractal I'm attempting to annotate on.
So basically all your posted charts are not this level ? What fractal are you on and are you using the YM too? I was under the assumption that you were going to post only in the 5 min traverse level(ES only) for a while.
I did.
You decided to extrapolate something not posted and applied that something onto an area of the chart not shown.
- Spydertrader
I do not use change as a requirement. Start by looking out for Lateral Formations and noting how they form. Soon after, add Lateral Movement to see any differences which exist. Not too long after that, you'll be able to do them in your sleep.
- Spydertrader