Iterative Refinement
- Thread starter Spydertrader
- Start date
Which fractal do you trade?
What does the YM say at 10:20?
Can you use the YM if you trade on the ES 5 minute Traverse Resolution Level?
What signal for change do you 'see' on the ES? on the YM? for the 10:20 Bar?
Is the signal you see one of the five which a ES 5 minute Traverse level trader uses for change?
Traverses which develop within a Lateral require which tool to trade within the lateral?
Can you use that tool if you trade on the ES 5 minute Traverse Level?
What signal for change do you see at the end of the non-dominant Up Traverse with Point One on the 10:20 ES [close of] bar?
Does the YM or Str-Squ provide a signal for change there (10:50 or after)?
Can you use the YM or the STR-Squ?
HTH
- Spydertrader
Nice job ehorn, Mr. Black and anyone else who executed well today. Maintain the focus on execution, and profits are sure to follow.
- Spydertrader
- Spydertrader
5 min ES
Jokari Window change and price moving in non-dominant direction on decreasing volume.
No.
for the 10:20 Bar ES shows Peak Volume, YM shows Jokari Window change.
The signals which a ES 5 minute Traverse level trader uses for change that I am familiar are:
1. Jokari Window
2. Peak Volume
3. RTL BO on increased volume
4. Pennant/Formation BO on increased volume (not sure if that one's included)
5. ?
I am a little bit confused which one is the fifth.
They require finer tools which one can not use if trading on the ES 5 minute Traverse Level.
I don't see ES providing any signals at 10:50 ES [close of] bar.
YM shows Jokari Window change on the 10:50 ES [close of] bar.
I am not familiar with Str-Squ.
No.
I am concluding that for somebody who trades on the ES 5 minute Traverse Resolution Level the action at the close of 10:20 ES bar is hold because no permission to seek change in mode exists on that bar.
No permission to seek change in mode exists on that bar because increased red volume on 10:20 ES [close of] bar comes from Spike bar and increased red volume on 10:15 ES [close of] bar comes from FBP BO.
Furthermore, I think the issue of annotations is separate from an issue of where permission exists to seek change on coarse level resolution. Mixing the two may have created a confusion on my part.
P.S. Since you mentioned that ES 5 minute Traverse Level Signals for change do not include formation FBO's could you comment on the five signals which a ES 5 minute Traverse level trader uses for change.
1. Jokari Window
2. Peak Volume
3. RTL BO on increased volume
4. Pennant/Formation BO on increased volume (not sure if that one's included)
5. LTL bounce on increased volume (not sure if that one's included)
Thank you for your time.
Romanus:
you said: "I am concluding that for somebody who trades on the ES 5 minute Traverse Resolution Level the action at the close of 10:20 ES bar is hold because no permission to seek change in mode exists on that bar.
No permission to seek change in mode exists on that bar because increased red volume on 10:20 ES [close of] bar comes from Spike bar and increased red volume on 10:15 ES [close of] bar comes from FBP BO."
Don't the concerns over increased volume arising from these two events only apply to price movement in a non-dominant direction which is not the case here?
Also please note that when Spyder discussed three examples of 5 minute ES Traverse level change signals on 7-24-08, he included "Pennant Break Out FBO". I see from your link where he more recently said those [change] signals do not include formation FBO's.
Clearly Pennants are a subset of Formations so there is some confusion here.
you said: "I am concluding that for somebody who trades on the ES 5 minute Traverse Resolution Level the action at the close of 10:20 ES bar is hold because no permission to seek change in mode exists on that bar.
No permission to seek change in mode exists on that bar because increased red volume on 10:20 ES [close of] bar comes from Spike bar and increased red volume on 10:15 ES [close of] bar comes from FBP BO."
Don't the concerns over increased volume arising from these two events only apply to price movement in a non-dominant direction which is not the case here?
Also please note that when Spyder discussed three examples of 5 minute ES Traverse level change signals on 7-24-08, he included "Pennant Break Out FBO". I see from your link where he more recently said those [change] signals do not include formation FBO's.
Clearly Pennants are a subset of Formations so there is some confusion here.
Obviously the market said otherwise.
Try using point one from yesterday and the first lateral movement starting the day as going from pt2 to pt3 of an up traverse. Now go forward and see if you would still be expecting a pt3 down.
Edit: At that time one would actually be looking for a pt3 UP.