Iterative Refinement
- Thread starter Spydertrader
- Start date
Thanks Spyder, something struck me today in debrief... The powerful aspect of the overlapping nature of Tapes. How tape level BO's occur then retrace to the TL of the previous tape. Now (all of a sudden) I am seeing this behavior on every fractal and how all the fractals work together to complete their mission with regards to this overlapping aspect.
A more specific example of this occurred Friday when in the early afternoon I was keeping my eye on the 20SMA of the daily (which came in around 38) and when the market broke down around 14:45 (where I was observing the difficulty of price to VE a TL I was viewing on the 15M) I remember thinking "nope..." not 38 today... Then I looked back to the daily (where I had a tape drawn) and, as sure as the sun rises, price moved down to retrace the TL support of that tape (around 08), promptly touched it, and off it went higher. As of late, I have been finding more clues from how each and every fractal operates together like this.
Seems silly that I have not really seen this aspect until recently. But it is an aha for me in 2 ways - the first listed above and the second being the realization that I have much more work to do to master "M".
As always, thanks again for providing your chart.
You've created a couple of obstacles for yourself right off the bat.
While you may have a valid reason for using a different chart setting than a 5 minutes ES, during the learning process you want to learn to differentiate between 'similar to' and 'exactly the same' when it comes to the signals provided by the market. Using a different time frame increases the level of difficulty. As such, I encourage you to learn the 'M' portion of the M-A-D-A Process on a time frame which allows for you to debrief in a fashion which compares and contrasts that which you 'see' with that which the market has shown.
In addition, your choice to annotate at a different fractal retards your brains ability to make the mental connections required in order to always understand "What must come next?" Focusing on only part of the picture isn't going to provide the 'aha' moments you seek anytime soon.
To this end, adding Volume to your charts appears like a logical first step for someone attempting to learn about the Price-Volume Relationship.
- Spydertrader
You are not alone in this regard.
Most people simply cannot see the natural cycle of the market. My efforts suggesting a return to the Monitoring Phase in order to spend the necessary energy required to grasp this concept have been, quite frequently, met with disdain, or interpreted as an 'attack' (or even) that I have no idea about which I speak. Strangely enough, those who have heeded the advice, and taken the time needed to solidify the skills needed by mastering the M portion of the M-A-D-A Process, have each indicated a similar experience to the one you describe.
The correct, complete and thorough annotation of a chart provides all the answers anyone ever needs with respect to whether or not, one sits on the right side of the market and with respect to "What must come next?"
As I have said many times, this isn't my 'interpretation' of what signals the market has provided. The signals exist - day in and day out - whether or not the trader has chosen not to have the ability to see them.
But, make no mistake. Everyone chooses the level of success they desire. Unfortunately, many people simply choose to ignore than which sits squarely in front of their face.
Good Trading to you.
- Spydertrader
I had the same exact chart as Spyder at end of day.
This is to anyone who wants to take a shot at this.
I would like to know, what does the point 3 move down at 15:00 build?
Just curious as to what this is, as it does not fit anything I can think of.
Tapes build traverses, traverses build channels, and this is part of?
This is to anyone who wants to take a shot at this.
I would like to know, what does the point 3 move down at 15:00 build?
Just curious as to what this is, as it does not fit anything I can think of.
Tapes build traverses, traverses build channels, and this is part of?
PointOne had posted an alternative view here...
http://www.elitetrader.com/vb/showthread.php?s=&postid=2167126#post2167126
I thought I would throw out another alternative view...
Thank you charts for the feedback.
With my data provider, I should have mentioned, that where you have a point 3 on the yellow horizontal channel, I have a 1 tick higher- than point one difference.
I was not able to do that unless I ignore the 1 tick.
I am looking for any feedback and appreciate your contribution.
With my data provider, I should have mentioned, that where you have a point 3 on the yellow horizontal channel, I have a 1 tick higher- than point one difference.
I was not able to do that unless I ignore the 1 tick.
I am looking for any feedback and appreciate your contribution.