Iterative Refinement
- Thread starter Spydertrader
- Start date
Your first red up channel is really one traverse. Price did not break the rtl of your first green traverse on inc vol so you should fan. The 1030 IRV closed back inside the previous bar saying get long if your not already, (JW change, similar to the 1005 bar but that was pt2) and the 2-3 move was over.
Gaussians. B\/R = down dominant, R\/B = up dominant
We discuss here somebody else's annotated chart ...
For example, some people might've seen that second lateral differently, as (on this chart) it shows a breakout on its 3rd bar ...
For my earlier comment clarification see attached ...
On the other hand, as important as is to read the market correctly, it is to quickly know when you've read it incorrectly, and ... wash ...
Quote from charts:
We discuss here somebody else's annotated chart ...
For example, some people might've seen that second lateral differently, as (on this chart) it shows a breakout on its 3rd bar ...
For my earlier comment clarification see attached ...
On the other hand, as important as is to read the market correctly, it is to quickly know when you've read it incorrectly, and ... wash ...
Thanks for the chart. That's what I was getting at with the second scenario. And it makes the next brown downleg work out.
I suspect the difference here is in the fractal. On the 5 min we don't get a return to dominance until after the 2nd lateral. That would be the reason Spyder didn't annotate the blue and pink traverse channels they are inside of as traverses.
If on a faster fractal then the first lateral is a completed traverse, and the second one part of the next traverse down.
If on a faster fractal then the first lateral is a completed traverse, and the second one part of the next traverse down.
Quote from ticktrade:
To start with, after forgetting my glove and bat and going 0-4 in my mada the other day, I'm probably the last person that should attempt to answer you but what the heck, I'll give my view of how I read it.
It would be easier if you could adjust your times to EST.
The problem with the my mada I was not certain about returning to dominance so I highly doubt my mada is correct for traverse level traders.
I'm assuming when you say lateral at 1340 it is the 1140 bar. At 1125 we had PA, at 1145 we needed more inc blk, than an r2r which tells me we must have had change if one missed the soc at 1145. 2 bars after the fbo you had IBV but came one tick from closing back inside prvs bar and the gaus peak there did not take out the previous IRV peak so all is still good and most likely pt3.
The FBO bar you mentioned was a rtl bo and pt 2 of a dn sequence. When I see an r2r after an extended up traverse I assume we have changed dominance, and proceed with WMCN. This is JMHO.
Next question.
Your are very likely correct the ftt was SOC, the fact that 1555 took out that high places doubt in my mind.
I thought 1505 was PA, ignored the 1515 r2r but continued mada with the possibility we had change. 1520 drv so ok with mada so far. 1525 ibv, no pa, need more ibv or change. 1530 change to short, 1540 had fbo of lat from 1525 bar so lack of clarity I rev. thinking maybe 2-3 trade but try to stay on rt side. rev again to short 1555 fbo on ibv.
I rather doubt this is the correct mada, especially for traverse level traders. I also used the ym for information at these uncertain areas and thought they were supporting the mada so I went with it.
All times are EOB, EST of course.
Second thoughts about posting this but the lessons in humility are SO FUN. Bring em on Spyder
Thanks for the feedback. It was very helpfull. I'll look into adjusting the time for future reference.
Guavaman, also thanks for posting your chart with comments.
Quote from charts:
Check the 2 min YM: it shows clearer the non-dom traverse ... A slightly up move covers the first ES lateral ... followed by a down move and a shorter up move that cover the down and second ES lateral moves ... Then the down dominant traverse starts at 1515 ...
That works too, but it's cheating
. Cheating is good...