I saw that but not sure what your conclusion was as far as which bars are your BBT2? Or were you saying yesterday (looking at your image right now) that your container is promoted to a Tape w/out needing 3 BBTs?
Sorry if it wasn't clear. My color vision is bad so I tend to rely on blue and red. I used line weight differences to show that the red BBT2 occurred on bars 7-8. BBT3 would be on bars 8-13. That explains it for me, anyway.
No prob, thanks. I saw the thin lines for your bbt1 & bbt2 but didn't see them for bbt3. Actually, I did see thin red line from the top of bar 4 but it slices through both bars 7 & 8 which means that TL couldn't be bbt2 so it must've been something else. I'm only asking so as to see if my construction might vary & I learn something. Anyway, if bar 7 & 8 are your BBT2 (image attached, sorry for sloppy hand drawn TLs), then I guess bars 11-15 and 15-19 are part of the next down Tape as baro-san pointed out.
..oops, some of Heroics quote got chopped off in my last post "6-3 explanation implied IV". Here is the entire quote.
Thanks. On that note, since we may not require literal IV and in the case of a VE ending all we "need" is implied IV... what about when we get more than 'needed'? Often we will get literal IV even on a VE ending. Meaning, we'll get some continuation after the VE. In real-time, what tells us that the thing may be ending on the minimum required (which is implied IV in this case) versus getting more than needed? What would make it actionable vs avoiding acting on it? We'd need to know whether to reverse or hold as far as trading decisions go. Could wait for a TL break and red IV in this chart, before entering, but sometimes we get that & then still get continuation of the prior trend regardless & we have to fan (i.e. failed reversal trades). That goes back to Heroic saying I must be constructing something wrong. I'd really like to know more about that, or maybe you guys already understand how to avoid entering in real time when we have a potential "minimum needed" ending vs ending up getting more than needed? Everything we thought might be a reversal in real time, In real-time. I see it all the time, live, we get "potentially valid" endings but of course it often ends up not actually being the ending. How do we know? Are there signatures in the volume that give hints? Peaks/troughs?
You're definitely right: we're discussing different requirements. As I mentioned, I don't subscribe to the "equal weight" approach, and my tapes seem to be a faster fractal that you guys are calling tape, although probably not what you're calling "BBTs". I'll refrain from posting things that are different.
No worries. What do you call a Tape, generally? I don't mean how to draw it, but what is it composed of? The reason I'm asking is because I am able to understand most anything that we might discuss (as far as I know), due to my studies & having been mentored on this method, but my questions are coming from the place that I feel some of what I've been taught may be mix & match and ambiguous in real time (i.e. multiple ways to define something means uncertainty in real-time of what we have vs what may still 'get' as the 'more than needed' aspect) while mostly only clear in hindsight. To some extent, I know that may be expected and normal. But in the case of a tweak here & there, it could be very helpful. Just wanted to explain there's a reason for my questions, it's not to aimlessly do Q&A.
I would rather struggle with posts that are different than to not get the benefit of seeing them at all. Using the line strengths and annotation conventions described here has been a difficult adjustment for me. I don't regret the change, though and I trust that in the end it will prove to provide a better perspective.