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Iterative Refinement
- Thread starter Spydertrader
- Start date
Makes no difference IMO what 1805 bar is in terms of volume. Previous bar created VE and is also PA. WMCN is retrace and another go of the incr red to finish building accel traverse.Quote from FilterTip:
Well, don't ask me why but for some reason I saw the 18:05 bar as Increasing vol. Hence change.
Good eye re: lateral at 1800. Stupid me, missed it and went long on 1840 bar. Looked like a tape was completed.
Currently long. Feels like 1930 started the lateral p2 to p3 long.
We'll see.
IMO change is the next bar ( lack of continuation). I have observed (don't know if it can be generalized universally) that the usual framework of dom/non-dom bars doesn't seem to apply to the PA sequences. I see spikes and pen/lat BO's completing it on a regular basis. 1/27 12:45 EST close of was one of the examples.Quote from FilterTip:
I washed the last short.
Now long,
Any comments re: changes at 18:55 bar ?
Still need a P3 up. (green)
Quote from romanus:
Makes no difference IMO what 1805 bar is in terms of volume. Previous bar created VE and is also PA. WMCN is retrace and another go of the incr red to finish building accel traverse.
Good eye re: lateral at 1800. Stupid me, missed it and went long on 1840 bar. Looked like a tape was completed.
Currently long. Feels like 1930 started the lateral p2 to p3 long.
We'll see.
Whilst I can see that the 18:05 bar was an Tape FTT, so inspte of my error in reading the volume price did retrace as you say, on DBV.
I think the difference is that the Tape FTT, rather than a JW, signifies a change in direction and the other a change in Trend. (?)
As was proven out in that the direction changed re: retrace, but the Trend was still down.
Thx
Quote from romanus:
IMO change is the next bar ( lack of continuation). I have observed (don't know if it can be generalized universally) that the usual framework of dom/non-dom bars doesn't seem to apply to the PA sequences. I see spikes and pen/lat BO's completing it on a regular basis. 1/27 12:45 EST close of was one of the examples.
Thx for your feedback on the PA.
For sure we know to expect continuation in the direction of the PA.
I agree that the nature of that continuation differs with, as you say spike bar etc..
It' didn't look like that happened on the 17:55 bar, but I chose Spyders "take timely action" to wash with price failing to stay within the tape.
You did some great work on the PA stuff if memory serves me.
I still have problems distinguishing it from PV.
Thx
Quote from romanus:
15:32 est - LOL, so much for the p2 to p3 lateral. Frankly i don't know ho to handle this lateral shit - sometimes they are, sometimes they are not. Seems like a very good way to explain away at the debrief why one lost money, but not necessarily explain how to avoid this. Damn.
End of Day Chart.
Laterals still confuse me too.
Spyder said something on the lines that you have to have a reason for a lateral.
As you can see on attached chart, if the dashed green was a travers with lateral at 19:10, we get the expected price movement and volume.
This sets things up well for the last Orange Travers (With a Violet Channel added).
The original green travers (solid lines) will still require a P3 for the Orange Travese.
The problem I have with the original lateral from 19:30 bar is that the was no return to dominance other than the 20:05 bar.
But we require two closes outside with increasing vol over the two bars.
Lastly and it's probably me, but Spyders post re: the list for the Expo had the line but I don't want anyone "falling through the cracks"
So be it if that was coincidence, thanks Spyder if it wasn't ..
Vol was not rising through that retrace frpm 19:00 so I was not expecting continuation.
The FTP at 19:34 and failed BO of it at 19:45 was my change signal but it was difficult navigating through it.
Thx