Iterative Refinement

[ljyoung]

Thank you Spyder for the superb feedback. With respect to adding to my confusion by removing that lateral line be assured that you did not. Just as you ask rhetorical questions as part of your teaching style, I often ask confused questions as part of my learning style.

Like Romanus, after today I'm going to take some time off from posting, mull things over and as well get back into the market. Ehorn made some excellent points in his post today and I feel spurred to join the 1 car piker club. As for the "cautionary tale" dude, I'm reminded of my post somewhere, sometime ago about the Jack Hershey fugu restaurant chain - exquistely delicious eateries but rather dangerous if you don't know what to watch for. I prefer o-toro and so let me see if I can generate a bit o' change to afford such a luxury. I'm tired of eating those tins of large, cheap sardines.

Good trading to you and muchas gracias for your time and help. Will drop by in a bit.

Regards,

lj

 

[guavaman]

To extend DKM's remarks it seems the tone and tenor of the journal has lost some of its collegial and mutually benefiting vibe.

I still cannot locate a signal for change around 15:00. Any suggestions would be appreciated as well as general critique is always welcomed

 

[charts]

Quote from guavaman:

... I still cannot locate a signal for change around 15:00. ...

Quote from Spydertrader:

... Bar 5 - Decreasing Black Volume with Price closing Outside the previous bar. Had the market mode been long previously, you now have a signal for change, ...

 

[ehorn]

Quote from guavaman:

To extend DKM's remarks it seems the tone and tenor of the journal has lost some of its collegial and mutually benefiting vibe.

I still cannot locate a signal for change around 15:00. Any suggestions would be appreciated as well as general critique is always welcomed

FWIW, I think you have annotated the final dominant traverse correcty, PT1 on BO of LM on IRV. Of course the IBGS was a signal for change, but we send ourselves down the rabbit hole (intra-fractal stuff) if we take these types of signals (without the readyness to take signals from finer tools)

Also, I believe Spyder mentions (in his bar-by-bar MODE discription to lj) that PT1 is where you (and I) had placed a PT3 (light blue/green) of the non-dom traverse.

 

[dkm]

Quote from ehorn:

dkm,

I noticed you had a "no sfc" annotation at 11:30AM... Do you see anything there that might indicate a signal for change?

Not at the traverse level. If you can see a signal for change that I have missed I would be grateful for your input.

 

[dkm]

Quote from guavaman:

I still cannot locate a signal for change around 15:00. Any suggestions would be appreciated as well as general critique is always welcomed

On my chart 15:00 is the p3 so we wouldn't be looking for a signal for change there. We are already long and holding p2 to p3. The 15:05 bar gives us lat fbo with ibv - a trav level sfc. On the 15:10 bar we see price move higher with dbv so I saw that as sfc also (jokari window).

If either of these observations are incorrect then I would welcome comments.

David

 

[gucci]

Quote from dkm:

On my chart 15:00 is the p3 so we wouldn't be looking for a signal for change there. We are already long and holding p2 to p3. The 15:05 bar gives us lat fbo with ibv - a trav level sfc. On the 15:10 bar we see price move higher with dbv so I saw that as sfc also (jokari window).

If either of these observations are incorrect then I would welcome comments.

David

I saw it almost the same way. The movement from point 2 to point 3 starts with ibgs (up to down) on 14:50 bar. The 15:00 bar shows another ibgs (down to up) and signifies return to dominance.


Edit: I do not have any lateral starting on 14:35 bar.

Check this chart from Spydertrader. It looks similar.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1995275>

FWIW.

 

[dkm]

Quote from gucci:

Edit: I do not have any lateral starting on 14:35 bar.

Check this chart from Spydertrader. It looks similar.
FWIW.

I am not sure why spyder did not annotate a lateral from 14:35. The following 6 bars all appeared to close within the 14:35 bar but it is quite possible that I have this annotated incorrectly.

 

[gucci]

Quote from dkm:

I am not sure why spyder did not annotate a lateral from 14:35. The following 6 bars all appeared to close within the 14:35 bar but it is quite possible that I have this annotated incorrectly.

Just for the sake of correctness, the chart from Spydertrader I posted is not the chart of 07.19.2008. With regard to the laterals, I noticed, that while all laterals have several bars (disregard closes or ends for now) within them, not all groups of several bars within some other bar constitute a lateral.

HIH.

For me 14:35 bar did not signal a lateral. Very often I recognise a lateral by going to the next smaller fractal (medium) and observing the behaviour of the price bar, that resembles a kind of whiplash effect contrary to the most recent direction of price movement. I hope I did not lead you astray. FWIW

 

[gucci]

Quote from gucci:


Very often I recognise a lateral by going to the next smaller fractal (medium) and observing the behaviour of the price bar, that resembles a kind of whiplash effect contrary to the most recent direction of price movement. I hope I did not lead you astray. FWIW

Here are two examples from my DAX chart. As usual take it with a pinch of salt. Caveat emptor