Iterative Refinement
- Thread starter Spydertrader
- Start date
You'll recognize it on my charts as the fanned out extension of yesterday's down traverse.
- Spydertrader
Your sequence exposition earlier on this page definitely made a few things click, and made me mentally zoom back out from a traverse level to a channel level. As such, I was expecting a non-dominant traverse at the open, followed by a dominant traverse back down to complete the sequence.
I just got my wires crossed somewhere between dominance and Gaussians.
And I should have fanned the Carryover channel down, but was too caught up in my newfound definition of dominance.
Thanks again.
My take so far...
Technically, since no pace increase exists on 9:45 [close of] bar, no lateral exists after that bar either. Therefore the increasing volume on 10:10 [close of] bar does not come from lateral BO and black dominance returns. So sequence is completed and permission to seek change exists.
Romanus, no lateral from 9:45 to 10AM?
If there was one, 10:10 [close of] would be lateral BO and increasing volume on that bar would not return dominance after retrace. There would have not been a completed sequence and without a completed sequence one does not have permission to seek change.
But, obviously there was change on 10:10 [close of] bar, since market built a down traverse afterwards.
Sounds logical to me.
Unfortunately, I don't. Spydertrader made multiple posts in the past 6-8 weeks with respect to pace change and expectation of laterals after increase in pace. Those included illustrations as well.
My previous comments were an attempt to differentiate lateral formed after pace increase from lateral movement based on bar closes.
I did not think in real time that the sequence for an up traverse was completed on 10:10 [close of] bar. Obviously, I was wrong.