Iterative Refinement
- Thread starter Spydertrader
- Start date
Thank you for the chart. Invaluable tool in my attempt to learn.
I have been trying to figure out how Pre-Flight check works and I have a question about this morning annotations.
Specifically the blue traverse with Point 1 yesterday.
Since I am not sure about my own annotations and whether or not they are correct - would I be correct in stating that yesterday the market closed while being somewhere between p2 and pt3 in the sequence?
1. You believe R2R developed by the 12:15 bar.
2. If so, then 12:20 must represent Point Two to Point Three.
3. If so, then 12:25 must represent Point Three (and into the channel).
4. If so, then surely the market showed a return to dominance.
5. Did it?
6. Review my previous post.
(All times Eastern and [close of] ES bar.)
- Spydertrader
A sufficient data set exists to determine the market closed while moving in a non-dominant direction. Nothing More.
All poodles are dogs, but not all dogs are poodles.
- Spydertrader
Bang! Flash grenade. AHA!
If I apply the same though process to dark green (olive) up traverse which begins with black OB on 13:00 - then :
Since the 13:00 black OB bar on increasing volume does not represent a signal for change on 5 min ES Traverse Level, then what follows it (since no increasing volume red bars exist until 14:00) is a non-dominant component of the pink down traverse. A non-dominant component which is formed by means of faster fractal (sub-fractal) traverse.
In other words in real time the pink down traverse begins as orange, however due to the absence of signal for change on 13:00 OB bar - the sequence is not completed for a 5 min ES level traverse.
Thanks for the response Spyder. I'm going to have to spend some time digesting this answer because I can see the potential for me misusing this info. and miss actual P2s.
Am I right to assume from your answer that in order to have our true P2, we must establish all of the following:
1. A dominant bar that provides our x2x.
2. Followed by a 2 to 3 nondominant movement (retrace / lateral).
3. An established return to dominance on our next move in the dominant direction.
The implication being: if 1 and 2 are present, but we do not get a confirmed dominant bar on our following move in the dominant direction; and we then begin to move in the nondominant direction again, then we have yet to find our P2. I had always treated these situations as having our P2 established, but we just hadn't found our true P3 yet. Am I making the correct distinction here?
Thanks,
-A
Am I right to assume from your answer that in order to have our true P2, we must establish all of the following:
1. A dominant bar that provides our x2x.
2. Followed by a 2 to 3 nondominant movement (retrace / lateral).
3. An established return to dominance on our next move in the dominant direction.
The implication being: if 1 and 2 are present, but we do not get a confirmed dominant bar on our following move in the dominant direction; and we then begin to move in the nondominant direction again, then we have yet to find our P2. I had always treated these situations as having our P2 established, but we just hadn't found our true P3 yet. Am I making the correct distinction here?
Thanks,
-A
No.
I provided one way a trader can know for this specific example. I did not provide all the ways a trader should have known for this example. Nor did I provide the way a trader must know for every example. In other words, the answer doesn't represent the important part of the equation.
You are very close to the ballpark.
- Spydertrader
To me this represents the proof that a universal type of thought process exists which allows one to make correct evaluation of any context. A generalized approach that doesn't feel like it should be any more complicated than some of the basic geometry problems.
P.S.
I wish I had a better brain.This is exactly what I have been saying for quite some time now.
Quote from romanus:
P.S.
One only requires sufficient brain power to follow directions. No more.
Start with these instructions ...
Create thoroughly annotated charts.
Fixed it for you.
- Spydertrader