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Iterative Refinement
- Thread starter Spydertrader
- Start date
yes..yes it doesThe outcome is certain for all of us.Quote from esjockey:
...
I hope you find a way to make the most of this opportunity for youself. The outcome is uncertain for many of us. Let's just do our best to have a pleasant journey.
Sincerely
Each of us has made a conscious decision on how to find our way.
Is it life mimics the market, or the other way around? WMCN is binary: Continuation? or Change!
The rule set with respect to Lateral Movement is quite clear: one needs two consecutive bar closes outside to kill it (at the border does not count as outside). If I correctly interpreted your comments, the second magenta colored lateral in the attached is the one you referred to in:Quote from Spydertrader:
...
14:30 begins a Lateral
All times Eastern and [close of] ES Bars
Quote from Spydertrader:
... You'll need another Lateral just before the increasing black (which threw everyone off)...
On my chart (attached) the 14:45 [close of] opens and closes outside the lateral. It does however touches the lateral border with its high. Since the rule set speaks specifically about two consecutive bar closes, the 14:45 [close of] obviously represents continuation of the lateral movement.
My question is: if the hypothetical bar has its both open and close outside the borders of lateral and does not touch the border with its high or low, would you still view lateral movement being in effect if the next bar closes inside the lateral?
In other words, if 14:45 [close of] headed down immediately after it's open and did not tick up to touch the border of the lateral movement (as illustrated in the magnified picture in the attached, which I modified a little), would you still consider the lateral movement to be in effect?
Thank you.
Attachments
Quote from romanus:
In other words, if 14:45 [close of] headed down immediately after it's open and did not tick up to touch the border of the lateral movement (as illustrated in the magnified picture in the attached, which I modified a little), would you still consider the lateral movement to be in effect?
The fact that the High of the Bar under discussion touched the Lateral boundary holds no significance with respect to ending a Lateral. In other words, for purposes of monitoring, the 'hypothetical' and the actual represent the "same thing" - a single bar outside a Lateral boundary.
- Spydertrader
Thanks. It feels like this whole thing behaves itself just like any well behaved, well described physical phenomena. No matter how you slice and dice it - in the end things come out to be the same. Beautiful. Just beautiful.Quote from Spydertrader:
The fact that the High of the Bar under discussion touched the Lateral boundary holds no significance with respect to ending a Lateral. In other words, for purposes of monitoring, the 'hypothetical' and the actual represent the "same thing" - a single bar outside a Lateral boundary.
- Spydertrader
Quote from romanus:
* * *
What is your rationale for the violet colored box? It looks to me you just drew two horizontals from the extremes of the 14:30 bar. What's so special about the 14:30 bar? That whole sequence of bars is merely hugging the LTL at the end of the R2L traverse. Happens quite a lot.
Exactly.
Contrary to recent assertions, guavaman posted the answer, and I confirmed his answer with this post.
Strange stuff when someone claims, that which many see, doesn't exist.
- Spydertrader
Quote from icarus618:
What is your rationale for the violet colored box? It looks to me you just drew two horizontals from the extremes of the 14:30 bar. What's so special about the 14:30 bar? That whole sequence of bars is merely hugging the LTL at the end of the R2L traverse. Happens quite a lot.
Spyder mentioned it as on everyone missed.
Quote from Spydertrader:
I may have had a typo.
14:30 begins a Lateral
All times Eastern and [close of] ES Bars