Iterative Refinement
- Thread starter Spydertrader
- Start date
I have a blind spot when it comes to a completion of a channel.
In regards to the discussion here about when did the channel, that started on 12-11 end and when did it complete on 12-12, personally I get hung up on the minutia it seems.
I viewed the 9:35 to 10:10 area as the completion of the non dom traverse of the previous day. I expected another traverse, this time dom then to occur. It did (10:15 to 10:35) but the grand finale didn't meet my expectations. The 10:15 bar is a BO of a pennant on IRV. This of course is what I would expect, but in order to properly BO a pennant we needed another bar with IRV and Price closing outside the range of the previous bar. Since we had a sym pennant on the 10:20 bar my initial analysis was we have yet to complete the down channel so the correct action was hold.
By the 10:55 bar it was clear I had incorrectly analyzed the area described above, but the confusion remains.
Any thoughts on the correct view appreciated.
In regards to the discussion here about when did the channel, that started on 12-11 end and when did it complete on 12-12, personally I get hung up on the minutia it seems.
I viewed the 9:35 to 10:10 area as the completion of the non dom traverse of the previous day. I expected another traverse, this time dom then to occur. It did (10:15 to 10:35) but the grand finale didn't meet my expectations. The 10:15 bar is a BO of a pennant on IRV. This of course is what I would expect, but in order to properly BO a pennant we needed another bar with IRV and Price closing outside the range of the previous bar. Since we had a sym pennant on the 10:20 bar my initial analysis was we have yet to complete the down channel so the correct action was hold.
By the 10:55 bar it was clear I had incorrectly analyzed the area described above, but the confusion remains.
Any thoughts on the correct view appreciated.
Quote from charts:
... are you talking about the 1600 sym BO, followed by 1605-1610 lat BO, and 1615 end of sequence / signal of change?
We require two bars of increasing volume to properly BO a lateral or pennant. My charting software shows an OB w/ IBV @ 16:00 followed by DBV at 16:05 = No SOC.
From my perspective anyway.
Quote from charts:
From my perspective: 2 closes outside are a BO, increasing volume with closing inside previous bar is a signal of change.
Yes, I missed the 16:15 bar as IBV w/ close inside previous bar
There is that "non sequential IBV" thing"= nabbing me again 
.Thanks for the correction