Iterative Refinement
- Thread starter Spydertrader
- Start date
bar # -5 Dominant Black: high(er) volume, JW
-4 Dominant Black: flaw; hitch or stall, we're still moving in the dominant traverse but taking a pause
-3 Non-Dominant Black: way higher pace, yet bar volatility is low and closes inside previous black bar. This gives us clues that this is the start of non-dominant movement.
-2 Non-Dominant Red: lower volume red is "textbook" what to expect during non-dominant retrace
-1 Non-dominant Red: flaw; hitch or stall; market just taking a pause, still in non-dominant mode.
0 Non-dominant Red: I'm on the fence on this one; it appears to be a r2r. However, the red-volume while increasing bar over bar is still much lower than any recent black bar.. hence this is non-dominant.
1 Dominant Black: the higher gap up shows a new up-traverse has begun. However, the close is towards the low, may indicate this is an ibgs, this this is confusing.
2 Non-dominant Red: Lateral Movement and decreasing volume indicates non-dominant volume has begun, with a new down/lateral traverse towards the blue channel's RTL.
3 Non-dominant Black: Still in LM -- moving laterally towards the RTL. This bar is the FTT but it isn't clear to me how to know that by end of this bar (not until bar 5 at the earliest from what I can tell..)
4 Non-dominant Red: More continuation of non-dominant movement, with LM turning into a retrace (Lower High, Lower Low).
5 Dominant Red: Here we have our first change in Dominance. We were expecting more LM or lower volume retrace movement.
Instead, we cleanly (as in the bar closes near it's low) break through the LM on increased red volume-- an r2r. This confirms bar 3 as the FTT as well.
6 Dominant Red: This is more confirmation that Dominance has changed from black to red. Volume (at Peak) is very high, and in fact is the highest of the day. While it is to some degree a spike bar, it is a lower high, lower low, and price closes a tick under the open.
7 Dominant Red: While red is still "dominant", this bar indicates the beginning of non-dominant movement (eg LM or retrace upwards towards the pink traverse.
8 Non-dominant black: This further confirms red is dominant as it's volume is less than half the previous red bars's.
9 Non-dominant black: Volume is higher, but only slightly and it is still much lower the immediately preceding red volume peaks. Price fails to break free of the high of bar 7, so while it moves upwards, this indicates non-dominant movement.
10 Non-dominant black: Further LM on slightly lower black volume: still moving upwards/laterally creating our 2nd traverse (eg up traverse), from point 2 to point 3.
-4 Dominant Black: flaw; hitch or stall, we're still moving in the dominant traverse but taking a pause
-3 Non-Dominant Black: way higher pace, yet bar volatility is low and closes inside previous black bar. This gives us clues that this is the start of non-dominant movement.
-2 Non-Dominant Red: lower volume red is "textbook" what to expect during non-dominant retrace
-1 Non-dominant Red: flaw; hitch or stall; market just taking a pause, still in non-dominant mode.
0 Non-dominant Red: I'm on the fence on this one; it appears to be a r2r. However, the red-volume while increasing bar over bar is still much lower than any recent black bar.. hence this is non-dominant.
1 Dominant Black: the higher gap up shows a new up-traverse has begun. However, the close is towards the low, may indicate this is an ibgs, this this is confusing.
2 Non-dominant Red: Lateral Movement and decreasing volume indicates non-dominant volume has begun, with a new down/lateral traverse towards the blue channel's RTL.
3 Non-dominant Black: Still in LM -- moving laterally towards the RTL. This bar is the FTT but it isn't clear to me how to know that by end of this bar (not until bar 5 at the earliest from what I can tell..)
4 Non-dominant Red: More continuation of non-dominant movement, with LM turning into a retrace (Lower High, Lower Low).
5 Dominant Red: Here we have our first change in Dominance. We were expecting more LM or lower volume retrace movement.
Instead, we cleanly (as in the bar closes near it's low) break through the LM on increased red volume-- an r2r. This confirms bar 3 as the FTT as well.
6 Dominant Red: This is more confirmation that Dominance has changed from black to red. Volume (at Peak) is very high, and in fact is the highest of the day. While it is to some degree a spike bar, it is a lower high, lower low, and price closes a tick under the open.
7 Dominant Red: While red is still "dominant", this bar indicates the beginning of non-dominant movement (eg LM or retrace upwards towards the pink traverse.
8 Non-dominant black: This further confirms red is dominant as it's volume is less than half the previous red bars's.
9 Non-dominant black: Volume is higher, but only slightly and it is still much lower the immediately preceding red volume peaks. Price fails to break free of the high of bar 7, so while it moves upwards, this indicates non-dominant movement.
10 Non-dominant black: Further LM on slightly lower black volume: still moving upwards/laterally creating our 2nd traverse (eg up traverse), from point 2 to point 3.
Here's my take, comments welcome
Bar 1: Dominant. Price HH/HL in an uptrend.
Bar 2: Dominant. Price HH/HL in an uptrend.
Bar 3: Dominant. Price HH/HL in an uptrend.
Bar 4: ? OB.
Bar 5: Non-dominant. Price LH/LL in an uptrend.
Bar 6: Dominant. Price LH/LL. R2R confirmed.
Bar 7: Non-dominant. Price HH/HL in a downtrend
Bar 8: Dominant. Price LH/LL in a downtrend
Bar 9: Non-dominant. Price HH/HL in a downtrend
Bar 10: Dominant. Price LH/LL in a downtrend
Bar 11: Dominant. Price LH/LL in a downtrend
Bar 12: Dominant. Price LH/LL in a downtrend
Bar 13: ? OB.
Bar 14: Non-dominant. Price HH/HL in a downtrend
Bar 15: Non-dominant. Price HH/HL in a downtrend
Bar 16: Non-dominant. Price HH/HL in a downtrend
Thanks for the drill Spyder.
I've numbered the bars on the attached image.
1: dominant: increasing black in up channel
2: non dominant: decreasing black in an up channel
(looking at the volume this looks like a flaw)
3: dominant: increasing black in up channel but also an IBGS so we have change here
4: non dominant: decreasing red in up channel (=retrace)
5: non dominant: decreasing red in up channel but also a flaw
6: dominant: increasing red in the new down channel
7: dominant: increasing black in down channel but first bar of the day and color was changed
(I'm confused by this one)
8: non dominant: decreasing red in down channel and ibgs up
9: non dominant: moving up on decresing volume
10:dominant: start of move down
(decr red but this is because price is still in the previous up channel)
11:dominant: incr red in down channel
12:dominant: incr red in down channel
13:dominant: incr red in down channel
14:non dominant: decr black in down channel
but also dominant when anticipating the start of the new up channel
15:dominant: incr black in new up channel
16:non dominant:decr black (and ibgs)
1: dominant: increasing black in up channel
2: non dominant: decreasing black in an up channel
(looking at the volume this looks like a flaw)
3: dominant: increasing black in up channel but also an IBGS so we have change here
4: non dominant: decreasing red in up channel (=retrace)
5: non dominant: decreasing red in up channel but also a flaw
6: dominant: increasing red in the new down channel
7: dominant: increasing black in down channel but first bar of the day and color was changed
(I'm confused by this one)
8: non dominant: decreasing red in down channel and ibgs up
9: non dominant: moving up on decresing volume
10:dominant: start of move down
(decr red but this is because price is still in the previous up channel)
11:dominant: incr red in down channel
12:dominant: incr red in down channel
13:dominant: incr red in down channel
14:non dominant: decr black in down channel
but also dominant when anticipating the start of the new up channel
15:dominant: incr black in new up channel
16:non dominant:decr black (and ibgs)
Here's yesterdays, again accelerated after-hours replay, and had the benefit of reading Jack's post before doing it. It's unfortunate that the different colours don't show up. (blue, red, black).
Definitely felt the slip back to a vertical orientation, in particular the re-emergence of emotion and a raised heart rate.
Have the luxury of doing this in real-time today, so will be expecting to do a better job.
Definitely felt the slip back to a vertical orientation, in particular the re-emergence of emotion and a raised heart rate.
Have the luxury of doing this in real-time today, so will be expecting to do a better job.