Iterative Refinement

[PTVtrader]

Can anybody confirm if the 15:25 bar had increasing or decreasing volume. My data had it as decreasing.

15:20 - 64485
15:25 - 64202

Thanks

 

[romanus]

Quote from PTVtrader:

Can anybody confirm if the 15:25 bar had increasing or decreasing volume. My data had it as decreasing.

15:20 - 64485
15:25 - 64202

Thanks

15:25 decr (both ZF and IQ)

 

[PTVtrader]

Quote from romanus:

15:25 decr (both ZF and IQ)

Then isn't the 15:25 bar a traverse level SOC (dec vol....dec volatility?)....

 

[Spydertrader]

Quote from ljyoung:

Yesterday’s EOD price action caused me (and possibly others) some consternation because it ‘appeared’ that the sequences were complete at 15:50 with a signal for change appearing a couple of bars later in the form of a pennant BO-FBO.

It shouldn't have appeared that the market had completed its sequences. In other words, the market had clearly indicated that it had not done so - prior to the arrival of 4:00 PM. The market itself had indicated that it had only travelled between Points One and Two by time the 15:50 bar closed. From here forward, the market again indicated its intentions - movement from Point Two to Point Three. One need look no further than the lessons discussed in January 2007 in order to understand how the market spoke and why.

Quote from ljyoung:

However, if one was to believe such an interpretation of the pre-flight, then the action this AM would have to be explained with something along the lines of ‘the market pulled a fast one and continued its dominant short channel’.

The market always signals its intentions (in advance) - on each and every fractal, in each and every market, during each and every day.

Quote from ljyoung:

I do not believe this to be the case

Wise choice.

Quote from ljyoung:

and thus it must be that yesterday’s ‘end’ sequence was not completed till this AM

Correct.

Quote from ljyoung:

with the two rising volumes at 10:05 and 10:10. The 10:15 was a JW bar and a traverse level signal for change with the shift in dominance being completed with the high pace black bar at 10:25.

Not exactly correct, but 'close enough' for government work.

Quote from ljyoung:

1. At EOD there had been no channel expansion, i.e., the formation was ‘a traverse’.

Nope.

Quote from ljyoung:

2. The high pace bar at 16:00 was important, aside from being a tape level signal for change.

Nope.

Quote from ljyoung:

3. The ‘rising’ volume criterion was always voided because the second bar was tethered to a formation of some sort, which at its most basic level, puts things on “HOLD”.

Nope.

Quote from charts:

4. all bars between 1510 & 1555 are in "down" mode ...

Nope.

Quote from ljyoung:

If you tell me I’ve missed a ‘critical component of monitoring,’ it will be sepuku-time, but with a butter knife.

You (along with a significant number of others) have done exactly that - missed a critical component of monitoring. Anyone who believed (incorrectly) that the market had provided a completed sequence and a signal for change last night at end of day, failed to see that which the market actually provided.

Understand, the market spoke loud and clear before a single bar opened for today. One need not have waited for the opening bell in order to know the correct answer to last night's drill. Having said that, anyone reading along has a binary choice to make.

My repeated advice (to many, many people) to review the monitoring phase of the M-A-D-A process holds value, or it doesn't. The market provides signals in advance, or it doesn't. The Price - Volume Relationship works in every market, on every time frame - provided sufficient liquidity exists, or it doesn't.

Choose to 'see' things, or choose not to.

HTH.

(All times Eastern and [close of] ES Bars)

- Spydertrader

 

[romanus]

Quote from PTVtrader:

Then isn't the 15:25 bar a traverse level SOC (dec vol....dec volatility?)....

I have annotated a Lateral beginning with 1505 bar. As such 1520 represents lateral BO and therefore the sequence was not completed, hence no permission to seek change.

 

[Spydertrader]

Quote from PTVtrader:

Can anybody confirm if the 15:25 bar had increasing or decreasing volume. My data had it as decreasing.

Trade Navigator shows increasing Volume on 15:25.

15:20 - 64197
15:25 - 64576

(All times Eastern and [close of] ES Bars)

- Spydertrader

 

[PTVtrader]

Quote from Spydertrader:

Trade Navigator shows increasing Volume on 15:25.

15:20 - 64197
15:25 - 64576

(All times Eastern and [close of] ES Bars)

- Spydertrader

well that would make a whole lot more sense to me....thanks

 

[romanus]

Quote from Spydertrader:

... The market itself had indicated that it had only travelled between Points One and Two by time the 15:50 bar closed.

If I could clarify - by Points One and Two, I presume you are referring to a channel.

 

[charts]

Quote from romanus:

I have annotated a Lateral beginning with 1505 bar. As such 1520 represents lateral BO and therefore the sequence was not completed, hence no permission to seek change.

... my 1520 shows (slightly) decreasing volume ... I annotated it as a pt 2 of the dominant move after your lateral ... starting a pt2 to pt3 (lateral)

 

[romanus]

Quote from charts:

... my 1520 shows (slightly) decreasing volume ... I annotated it as a pt 2 of the dominant move after your lateral ... starting a pt2 to pt3 (lateral)

Well, IMO whether or not that bar is decreasing or increasing may be irrelevant - the previous bar was a PA.