Correct. 13:55 does not provide a completed sequence / signal to get long.
Edit: The above assumes the ES 5 minute Traverse Level resolution.
- Spydertrader
Iterative Refinement
- Thread starter Spydertrader
- Start date
Correct. 13:55 does not provide a completed sequence / signal to get long.
Edit: The above assumes the ES 5 minute Traverse Level resolution.
- Spydertrader
Thank you for the chart.
Prior to seeing it, I annotated the first Lateral Movement of the day in a different fashion.
That caused me to believe that the sequence for an up traverse was not completed until 11:40 [close of] when first increasing black volume appears which is not one of the three cases.
Based on your annotation of that first lateral movement of the day (9:50 [close of] to 10:10 [close of]), one may mistakenly assume that the sequence for an up traverse was completed on 10:15 [close of] Outside Bar , which is clearly not the case as evidenced by IBGS bars (10:25 [close of] and 10:40 [close of]) that did not result in change. Therefore no permission to seek change exists on those two IBGS bars.
Very, very fascinating.
It seems that I missed something important in that blue up traverse.
Very intriguing. Feels almost like market took a brief break from building a pt3 up by creating a complete sequence for down traverse and then finished the job by creating another pt3 up.
Extremely fascinating. Almost like there's a certain rhythm to how market moves which escapes me sometimes.
You should not view your early morning annotations as incorrect. What the lateral provided for you, I see elsewhere.
Perhaps, you should post your interpretation of the 'three cases' in an effort to determine if you have a correct view.
Clearly.
Exactly what one would expect from a market in the process of constructing a channel.
Fixed it for you.
- Spydertrader
Thank you.
I am not sure what you mean here, so I'll just think about that comment for a while. I expect the answer will come to me sooner or later just like it did before.
the 'three times' one can 'see' increasing volume when Price moves in a non-dominant direction (Right trend line Break, Formation BO / FBO or 'Spike' Bar)
Somehow during one of my frequent brain freezes I may have included IBGS in the above three cases based on my misinterpretation of this post.This inclusion may have been a mistake on my part.
Thank you for your help.
And which bar did you feel doesn't fit one of these three cases?
(Kindly, attach your chart with an arrow pointing to the bar in question)
- Spydertrader
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2104145>
5 minute es october 3 08
Prior to your responce, while operating under possibly mistaken assumption what constitutes a 'valid' increasing volume in dominant portion of the traverse, I thought that 11:40 [close of] increasing black volume bar, marked with red arrow in the attached, was the first 'valid' (for the lack of the better word) increasing black volume in the up sequence.
By possibly mistaken assumption I mean my inclusion of increasing black volume of IBGS Bar as not being a 'valid' volume for the purposes of sequences.
I am totally lost here. If increasing volume on IBGS bar confirms pt3 then 10:40 [close of] would mean signal for change. But instead market builds a channel. I can't find that 'something' that tells me when the sequence is completed.