Iterative Refinement
- Thread starter Spydertrader
- Start date
Thanks Spy - my bad, meant 12:55 (my charts use the open time out of habit and I translated it the other way around).
Thanks for the answer regarding my question!
Thanks for the answer regarding my question!
It is both - 12:55 is the start of the down traverse and the down channel... (on my chart at least)
I can't really qualify that - but, the way I saw it, pt1 @1:40 and pt2 @2 for the up traverse - that square (or loose lateral movement) seem to fit in nicely...
But more importantly,1:40 is the FTT point of the down traverse, and 2:05 the FTT of the next up traverse...
A non-dominant traverse need not move in the opposite direction from the dominant traverse. The market could easily create a non-dominant traverse which moves in a different direction than the dominant traverse.
Perhaps, you can already see such an event developing on your charts for today.
- Spydertrader
Quote from Spydertrader:
Perhaps, you can already see such an event developing on your charts for today.
- Spydertrader [/B]
With my current skill level, approach and understanding I can only see tapes which create traverses. But from 12.55 on I could not find a combination of tapes that would form an up traverse. Based on your "...opposite direction..." and "...different direction..." you are probably trying to tell me that there is one or more lateral- (moves, traverses, retraces, etc.) which would be what I was looking for. If that's the case then all the different "laterals" are the next thing I should study.
For the day.