Iterative Refinement

Quote from frenchfry:

I'm still confused.
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1. The thick green lines (on my chart) start out as a Traverse. Later in the day, the exact same line represents a channel. When the thick green lines start out, only tapes have created it. Therefore its a Traverse. Later, Traverses sit inside the thick green lines, and tapes sit inside the Traverses. At that point, you have a channel. Since it is the same thick green lines from beginning to end, it only looks like the tapes built a channel.

2. Your annotations with respect to tapes appear far different than my own.

3. TIKITRADER has provided you some excellent advice.

- Spydertrader
 
Quote from frenchfry:

... at one point I was lost because I couldn't identify anymore where I was (tape, channel, traverse, etc.).
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Two ways exist in which the market builds a channel. One of them is to begin with traverse and then widen it to the size of the channel.

Some examples:

http://www.elitetrader.com/vb/showthread.php?s=&postid=1922872#post1922872

http://www.elitetrader.com/vb/showthread.php?s=&postid=1944570#post1944570

http://www.elitetrader.com/vb/showthread.php?s=&postid=1945951#post1945951

http://www.elitetrader.com/vb/showthread.php?s=&postid=1995975#post1995975

http://www.elitetrader.com/vb/showthread.php?s=&postid=1996328#post1996328
 
Quote from charts: peak volume ... 3 bars ... pace acceleration w/ decreasing volatility of last bar
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Quote from romanus: 15:05 10-31-2008 is Peak Volume, but it does not exhibit decreasing volatility on the last bar
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Nothing to do with volatility, it's all about volume. - EZ
 
Quote from charts:

pre-flight anybody ?
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This one is really, really tough one for me. A 'post P3' lateral. Anything goes inside those. Technically, IMO since there hasn't been a traverse level signal for change on 5 min ES traverse level fractal - I couldn't tell if what we're going to see tomorrow aren't faster fractal traverses. Looks like YM has already started P1->P2.

No signal for change on 5 min ES traverse level fractal as the day ended IMO. One tough cookie.
 
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