Iterative Refinement

[romanus]

Quote from Avi 8:

I have one lateral ending, going short on jokari window traverse level change at 1040, and starting a new lateral at 1035. I don't have a point three down until 1140.

This is pretty cool!
Is this what you're saying:
You don't have a point three in red down traverse until price exits the orange lateral.
If it is, then this is the answer to:

Quote from Avi 8:

How about why 1055 is not a point three?

In the attached price does not close outside of orange lateral on increasing volume before 11:40 [close of].

Quote from Avi 8:

Now, can you tell me why I did not go long at 1105 and 1145?

11:05 [close of] becomes part of pt1 to pt2 movement where no permission exists to seek change.

But WHY 11:45 [close of] - Jokari Window CHANGE - becomes hold? Could you elaborate on that please.

 

[thenewguy]

Hi all,

If anyone has time would they mind posting today's chart so far? I'm very lost in the last hour or so and having troubles reconciling this action. I suspect we're in an area that I don't have the tools to handle yet, but I want to make sure I'm at least on the right path with this chart.

Thanks!

TNG

 

[Tums]

Quote from thenewguy:
Hi all,
If anyone has time would they mind posting today's chart so far? I'm very lost in the last hour or so and having troubles reconciling this action. I suspect we're in an area that I don't have the tools to handle yet, but I want to make sure I'm at least on the right path with this chart.
Thanks! TNG

Context, context, context !

Check your volume.
Check your pace lines!
Check your overlapping laterals.

It is a beautiful Summer Friday afternoon in North America...





i.e. Relax. Don't wreck your brain before its time. ;-)

 

[ljyoung]

Great discussion. I have looked carefully (with a 10x loupe) at seven charts which were posted this AM and came up with the following tally:
Bar 14 = QT 10:35 bar = 10:40 EOB bar for NT and others, shows a close:
= High of the prior bar for 8833broc and jbarnby.
> High of the prior bar for TNG, Romanus, dkm and myself.
? High for bi9foot because of the arrow.

Two questions for either avi or gman who, although they did not post charts, say that the close of bar 14 was 'within the range of the prior bar', where the prior bar = bar 13:
By 'within the range of the prior bar' do you mean (less than) or (less than or equal to) the high of the prior bar?
For those traders whose data vendor gave a bar with the close of bar 14 > high of prior bar, what indicator of traverse level change existed for bar 14?

bi9foot offered an explanation for a dominance change http://www.elitetrader.com/vb/showthread.php?s=&threadid=113310&perpage=6&pagenumber=1190
but does that explanation qualify as a traverse level change signal? I ask this because the 9:30 low held and the mode did not change.

TIA

lj

 

[Spydertrader]

I received more than a few requests to post my charts for the day, however, I haven't annoated or traded past 2 PM Eastern Time. Hopefully, the attched can add some clarity, but I suspect some may feel the annotations provide ambiguity or confusion. No worries. Simply look to see why annotations exist where they do, and note subtle differences, which if not in place, tell a completely diffferent story.

Enjoy the weekend everyone.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2038716>

 

[dkm]

Quote from Avi 8:

There is a third.

Spydertrader kindly wrote about lateral endings:
http://elitetrader.com/vb/showthread.php?s=&postid=2034014&highlight=kill#post2034014

I have one lateral ending, going short on jokari window traverse level change at 1040, and starting a new lateral at 1035. I don't have a point three down until 1140.

I reversed long at 1225 and still holding.

Now, can you tell me why I did not go long at 1105 and 1145?
How about why 1055 is not a point three?

Thank you. I suspect that we have data differences because my 10:40 closed above the high of the 10:35 bar. I cannot see how a new lateral could start at 10:35.

I suspect that you did not go long at 1105 and 1145 because you saw them both as a pt2. If you started a new lateral at 10:35 then 10:55 would be the bo short on IBV and its high would be a new pt1.

I do not see how you conclude that 10:40 is a jokari window traverse level signal for change.

 

[Spydertrader]

Quote from dkm:

I do not see how you conclude that 10:40 is a jokari window traverse level signal for change.

Maybe, because the market doesn't signal 'Lateral' until the 10:45 ES [close of] Bar - five minutes after the FTT. Hence, the anotations (Lateral Movement) you 'see' now did not make their way onto the chart until later - after the FTT already signaled.

In other words, the market signals change, then, 5 minutes later, warned that Price (at the previous point of change) now found itself in a Lateral.

What does that mean?

Point One isn't where some people thought is all.

Note the subtle difference between this set of circumstances, and the small traverse which ivob (and others) didn't see a few days ago. Things may appear the same, but clearly differences exist, and those subtle differences make all the difference in the world.

- Spydertrader

 

[thenewguy]

Quote from Tums:

Context, context, context !

Check your volume.
Check your pace lines!
Check your overlapping laterals.

It is a beautiful Summer Friday afternoon in North America...





i.e. Relax. Don't wreck your brain before its time. ;-)

Thanks for replying Tums.

I'll review what you mentioned, but so far it's not providing clarity. I think a trip down journal lane is coming up this weekend!

Have a good weekend all.

TNG

 

[Mr_Black]

ES

 

[tobbe]

For what it's worth, ES for today.

Avi 8, thanks for the lateral-pt3 discussion. I had an "aha, I don't have a clue"-moment. Time for me to ponder how to proceed .

Enjoy the weekend .

EDIT: Thanks for posting, Spyder.