Yes. Many FTT's appeared today. Whether or not they apply to your trading fractal is another matter entirely.
- Spydertrader
Iterative Refinement
- Thread starter Spydertrader
- Start date
Yes. Many FTT's appeared today. Whether or not they apply to your trading fractal is another matter entirely.
- Spydertrader
1. The market creates 'left to right' movement (Laterals) in a different manner than it creates 'up and down' movement. Look at the day's first lateral for a comparison.
2. I felt some might see this area as confusing. As a result, I made sure to annotate both fractals in an effort to reduce the number of questions I'd need to answer.
- Spydertrader
2. I felt some might see this area as confusing. As a result, I made sure to annotate both fractals in an effort to reduce the number of questions I'd need to answer.
- Spydertrader
Thank you for the chart.
Would you consider the 14:55 [close of] Bar to be not Pennant FBO, as it does not leave the boundaries established by the first Bar of the pennant, and as such the increasing red Volume on that (14:55 [close of] Bar) would not be one of the three cases where increasing Volume appears when price is moving P2 to P3 in non-dom fashion?
Thank you.
Quote from Spydertrader:
1. The market creates 'left to right' movement (Laterals) in a different manner than it creates 'up and down' movement. Look at the day's first lateral for a comparison.
2. I felt some might see this area as confusing. As a result, I made sure to annotate both fractals in an effort to reduce the number of questions I'd need to answer.
- Spydertrader
re 2. And here I thought you lived to answer questions (ho, ho).
re 1. I don't understand exactly what you're getting at.
Lateral movement is a non-dominant movement with its attendant Gaussian characteristics and with price constrained by the upper and lower poles of the first bar. Up and down movement is a dominant movement with its attendant Gaussian characteristics and with price making HH/HL or LH/LL. There are various ways of initiating and terminating laterals (both LM's amd LF's) and LF's may be converted to LM's.
For the Pennants and Even Harmonics this is straightforward and as long as price stays inside the boundaries of the first bar of the Pennant or EH we have a Lateral Formation. When price breaks a boundary but closes back inside the boundary, we have a Lateral Movement. However for a de novo construction of a Lateral Movement we require 2 more bars with closes inside the extremes of the first bar.
The first LM of today was such a case as was the second LM of the day. As best I can tell, one would not have known one was going to have a LM, in either case, until the close of the third bar. It is what appears to be a 'lookback' situation and I have no problem with that.
The second LM was possibly killed just by the OB because it spanned the 'width' of the LM and closed outside the lower boundary. However I do not know whether the high pace was necessary for this termination or whether the the 'second' close was needed as well..
The third LM began with an EH but what I cannot tell is whether it was terminated by the SymP because it was a SymP or because it was a '2 closes for a kill' situation.
The fourth lateral motion (a LF) was terminated by the IBGS at 11:50 even with its slower pace compared to the 11:45 bar.
The LM which began with the IBGS was terminated with the 1:25 and 1:30 kill bars.
Which brings us to the 1:30 high pace bar which was followed by a swath of bars with their closes inside its exterma but which you chose not to be the first bar of what turned out to be a LM. The bar immediately after the high pace bar is not an IBGS bar and if one applies Jokari logic to it then a HOLD or continuation is what is called for.
Pennants do not appear to be disruptors of a lateral motion so I'm back where I was initially and still do not see why you waited till the 1:40 bar to initiate the lateral motion although I know, as I said, that if you start with the 1:30 high pace bar you get a false change signal down the road.
I am not looking for a collection of rules to be applied in appropriate places but clearly there must be rules of logic which may be empirical but which will lead one to correctly initiate a lateral motion. I understand that at any time I can do a bar by bar WMCN analysis to 'find out where I am'.
TIA
lj
Two things.
1. A Bar where Price exits the Pennant formation, and then returns (FBO), differs greatly from what you see on this bar.
2. One thing is dominant at 14:55, another thing is dominant at 15:00.
- Spydertrader
Then you also know the market has provided the correct answer. You simply need only understand why.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2133799>
Another day of prayer, fasting and self-abuse comes to a close.
When still doing the 'science thing' I had occasion to work with a crew of physicists from the Carnegie-Mellon Institute and was initially totally impressed and befuddled with how they came to be able to use the appropriate QM constructs to assign magnetic states to various paramagnets in biological macromolecules - tensor mathematics constrained by laws of nature. The answer was by T&E + astute observation.
Very astute.
lj
