Iterative Refinement
- Thread starter Spydertrader
- Start date
Another Drill
1. Add full, complete and thorough annotations to the chart.
2. Post completed chart.
3. Identify WMCN and why.
- Spydertrader
1. Add full, complete and thorough annotations to the chart.
2. Post completed chart.
3. Identify WMCN and why.
- Spydertrader
Like some others, I've been focusing on tape drawing a lot more these days as well. I've been paying more attention to the slope of the tapes. I've been noticing some interesting relationships to tape slopes as well as the slopes of closing prices. The attached chart illustrates this with the closing prices of the ES on Friday and the calculated slope value. I am noticing that when price is operating within a channel, the dominant high volatility bars often will increase or decrease in slope value as it goes from dominant, non-dominant, to dominant. I circled the slope values for yesterday's afternoon up and down moves to illustrate my point. I was wondering if others have observed this relationship as well. Is there anything to this or am I over analyzing? 
Thanks for the drill, Spyder.
Here's my attempt (as I take a very brief diversion from the drills Jack has set).
Dominant black, followed by what looks like a lateral retrace, so WMCN is a re-emergence of long dominance as price exits the lateral.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2178859>
Here's my attempt (as I take a very brief diversion from the drills Jack has set).
Dominant black, followed by what looks like a lateral retrace, so WMCN is a re-emergence of long dominance as price exits the lateral.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2178859>
Your chart represents incorrect annotations, analysis and conclusions. Feel free to make another attempt.
You sure you want to go with your current submission?
- Spydertrader
Well, here's mine, but seem's too obvious, so probably wrong...
Quote from ehorn:
You sure know how to pick em'
You didn't really think I posted a chart from a random day now did you?
Do you feel you have posted a thoroughly annotated chart?
- Spydertrader