Iterative Refinement

While Friday is still under discussion, I have a couple of areas where I am in need of some insight if someone would be willing.

The first is the area between 11:50-1:00 EST(violet shading on my chart).

Before I ask the question I should say that I am unsure if the discussion about the Pt2 not being outside the previous down channel is "A" reason for continuation until 14:50 EST or "THE" reason.

The way I have annotated my chart, this area can't be a retrace as the current sequence is complete and there is no Pace Acceleration (if my understanding of PA is correct). So, if it IS a lateral it must be a Lateral Traverse or a Lateral Channel.

I am confident it is not a Lateral Channel.

I am somewhat confident it is not a Lateral Traverse (obviously can't be due to the ongoing discussion).

But if it is not some form of meaningful lateral, how do I avoid the two signals for change I have annotated on my chart (Pennant BO FBO)?

Have I missed the boat with PA and the 11:50 EST bar is actually PA?

Have I missed the context completely?

Are these bars not change even in the correct context (ie. have I just missed the change boat as well)?

Thanks for any advice!

*note: my chart scale is in CST, add 1 hour for EST.
 

Attachments

Quote from Spydertrader:

Excellent Observation.

- Spydertrader
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:confused: I'm all confused now...

Isn't the "real" traverse pt 2 at 13:30-12/4 ? and if so doesn't that make the whole down channel non-dom?
 
Here is the second area of confusion for me Friday. This one safely outside the 14:50 EST boundary. :)

The final accelerated traverse of the day appears (to me) to be a complete sequence at 15:40 EST.

15:40 also appears to be change (close back in lateral movement on IBV).

15:45 and 15:50 also appear to be change for the same reason.

Obviously, none were change.

It was this sequence along with my failures earlier in the day Friday that made me question my understanding of Pace Acceleration.

Is this series of bars following a PA?

I so not see an acceleration of the slope of the Gaussian curve, but perhaps there are different types of PA?

Again, Thanks for any advice.
 

Attachments

Quote from R/R:

I annotated 11:15 as pt2 long, although 11:00 was the "geometric" pt2.
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I have 14:00 as my traverse level pt 2 for Friday's up channel
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Sorry R/R, I have 12:10 as my traverse pt2 for Friday's up channel..
 
Quote from WGTrader:

Anyone who wants to provide any corrections or additional observations please do. Thanks. :)
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My thoughts and adjustments:

# 7 & 8 Dom long / short tape is characterized as the first leg of a sequence with price moving in the direction of the Dom trend. Volume does not have to be consistently increasing in this tape.

#10 (b) Price needs to avoid all JW criteria.

#11 Non Dom bars can also have Price meet a JW criteria.

#15 Spike bars do not "reset" a sequence, but are considered Non Dom. Some OB's reset sequences.

First I hope these are correct observations and if so, they prove helpful :cool:
 
Come on folks.

The concepts under discussion do not represent anything new. Jack posted an outline of where to anticipate the various 'Point' formations (after the FTT) which included a small 'yellow area' within the drawing. The concept of 'Point Overlap' has been discussed with respect to Traverse formation, time and time again. Trends overlap, and they do so in very specific ways. Since the market is fractal by nature, concepts mastered on one fractal apply to another (faster or slower) fractal. Hence, every market on every time frame - provided sufficient liquidity exists.

Point One to Point Two forms in a very specific way, and Volume represents a leading indicator of Price.

Focus on the singularity of the specific fractal on which the individual performing the monitoring function trades, and then, differentiate that which you believe you see from that which the market has actually provided.

- Spydertrader
 
Quote from WGTrader:

To help me get a handle on the Dom Non-Dom issue, I've compiled some notes (and questions). Anyone who wants to provide any corrections or additional observations please do. Thanks. :)
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remind me of my halfbaked idea; :D

a) anticipate (up/dn) _____ channel

1) (up/dn) ____ traverse

2) ___ traverse or lateral (f/m) ___. If it is (higher/lower) ___ than traverse 1 go to a)

3) ___traverse or lateral (f/m)_____.If it is (higher/lower) ___than traverse 2 go to a)
 
Quote from Breakeven:

Again, Thanks for any advice.
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You have yet to fully differentiate that which you believe you see, from that which, the market has indicated actually exists. The various vocabulary words used throughout the trading day represent specific points in time and various pieces of a much larger puzzle. Too much focus on any one puzzle piece prevents the trader from ever seeing the entire picture.

The market has ebbs and flows no different than tides rolling into and off of a sandy beach. We know the moon influences the ocean tides, and a skilled oceanographer has the ability to accurately forcast the changing of these ocean tides. However, you have yet to learn how to see that which controls these ebbs and flows with respect to market sequences.

Focus on the leading indicator of Price.

Quote from Breakeven:

Have I missed the context completely?
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Yes. You most definitiely have. However, you are not alone. I only noticed one chart which had the context somewhat correct - not perfectly correct, but close enough for government work.

- Spydertrader
 
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