Iterative Refinement

[romanus]

Quote from Mikel:


The first observation is the blue point 3 at 10:15. All closes are within the shadow of the 9:50. (Don't know why no lateral annotated), but the point 3 is there.

The second, is is the pink down traverse from 10:35 to 11:10. Again point 3 is annotated, but no increasing volume outside the lateral.

I don't have a clue - and it drives me nuts.

 

[Tums]

Quote from romanus:
Aye, Guava rules!
When you have a chance - could you elaborate on "No SoC" mark pointing to 1135 eob. Thank you.

In the absence of Change, the default is Continuation.

 

[romanus]

Quote from Mikel:


The second, is is the pink down traverse from 10:35 to 11:10. Again point 3 is annotated, but no increasing volume outside the lateral.

To me, it does not look like the sequence for traverse is completed and therefore I expect a second dominant traverse after lateral one. In cases where there is a channel I often notice (a) no signal for change after the sequence for the first dominant traverse is completed , or (b) the sequence for the first dominant traverse is not completed. Not too scientific , I am afraid, but it's all I got.

 

[bi9foot]

Continuation of morning chart

 

[guavaman]

Quote from romanus:

Aye, Guava rules!
When you have a chance - could you elaborate on "No SoC" mark pointing to 1135 eob. Thank you.

Romanus,

I have the 11:35 bar completing a down traverse (light blue) without creating a traverse level signal for change. Therefore, the subsequent price movement indicated to me we were moving into a lateral traverse which I considered essentially an "up" traverse. This "up" traverse ended on the 12:15 bar and also created a Pt1 for a new down traverse that followed.

 

[guavaman]

Quote from Spydertrader:

Nicely done annotating that Lateral Point Three.

There are glimpses of clarity from time to time

 

[ehorn]

Quote from Mr_Black:

I break my record today....

Congrats! It was a great day for breaking records

So spill the beans guys... Who broke 2K points today?

 

[Spydertrader]

Chart

 

[Mr_Black]

Quote from ehorn:

Congrats! It was a great day for breaking records

So spill the beans guys... Who broke 2K points today?

6k day here....))

 

[charts]

Quote from Mikel:

... I am attaching Spyder's chart of 20080923, of which he said if one studies only this chart one can learn much. (No doubt you have studied it!)

The first observation is the blue point 3 at 10:15. All closes are within the shadow of the 9:50. (Don't know why no lateral annotated), but the point 3 is there. ...

...laterals ended or could not form due to change (one sequence ends and another begins), or IBGS on increasing volume.
- Spydertrader