Iterative Refinement
- Thread starter Spydertrader
- Start date
TIKI,
Please understand I am not quibbling, pissing, moaning or criticizing but rather requesting validation that what you mean by the statement above is this:
Bar 50 is a 2 bar break on increasing volume of the lateral movement which began at bar 43. Bar 50 thus confers point 3 status on the bar 47 IGBS. Bar 50 has us well into the the third movement of the second sequence (what I call a '1,2,3') which in this case is an upward trending traverse showing the 'up-down-up' type of movements. We are keenly aware that since we are in the final movement of this traverse we should be on the lookout for a traverse signal for change which finally arrives at bar 56 in the form of an OB. We knew already that this would be the change spot due to the fact that the preceding 3 bars provided us with a 'traverse' PFBO change signal.
Is this so?
lj
I did have a point 2 to 3 non dominant of the traverse here.
Price broke out of the lateral on increasing balck on bar 46.
Price failed to get more increasing black over bars 47 and 48.
Bar 49 formed with decreased volatility and increased volume which is a signal for change on the tape level.
Since traverses are built from tapes this looked like change and a point 3 to form confirming the non dominant traverse.
Which did confirm once more increasing red volume came in as price decreased on bars 50 to 53.
I did see change as a pennant failed b/o on bar 55 with price decreasing on the bar on decreasing volume.
Change confirmed once lateral formation was b/o on increased black.
This is how I had seen that time, hope it is correct. If not . . . let me have it :eek:
Aside from the fact that, IMO:
You are still buried in a LM.
You have not completed a 1,2,3.
there is also no 'traverse level signal for change' to validate a 'traverse' FTT. What you would appear to have annotated is a tape ftt which as a traverse trader you don't act on, presuming that you are a traverse trader and haven't jumped down a trading fractal to become a tape trader.
lj
We are not agreeing on bar counts. I have been using your posted chart from 7/29 as the reference and what you have annotated as a 'purple 2' on your chart, I have as bar 1 on my chart which I used to count with, assigning bar 1 as the opening bar of the day going from 9:30 to 9:35. I will look at what you have said with this recalibration in mind and respond shortly.
lj