ES chart for 4/30 with tapes. If the tapes are correct and consistent then I can move on to draw RTLs and LTLs for the faster fractals. Rubber has contacted road but moving slowly..... let's get this step clear.
Hi dkm, great work. When I read it I somehow got stuck with your description of bar 3 having a HH and LL than bar 1. As I didn't remember it being that way I had a quick look to see if this is correct. If I'm looking at the same chart then there is something wrong. I'm not saying my tapes are correct but what I can say is that they look "a little bit different". Please have a look at the first few bars. I did the complete chart yesterday but when I wanted to save it I selected "discard". Therefore in order to see the difference in this point only, I quickly added what I would have drawn. Greetings.
Your chart starts with data from the previous day. Bar 8 on your chart is actually bar 1 on 4/30. My chart begins at 09:30 EST. My bar by bar description should be read in conjunction with the chart that I posted, on which I numbered most of the bars.
Here you see a red bar above lableled 1. I has lines associated with in on the fast fractal levlel. By working with available clean information, only, thos lines came into being as follows in 7 steps using cases to get the right to draw a paralellelogram using three points and observing that the rtl is on the corrcet (rtight) side.
I know dkm. And as you can see your bar three has a HH but not a LL than bar 1. Another point we can see is: Depending on where we start we might get slightly different results. I think at the beginning of this thread Jack highlights the importance of de-gapping and before one starts trading a day you need to have ALL THREE fractals of the previous day(s) in place. If I would have started with the first bar of that day, I would probably arrive at the same conclusion like you did.
We can look at the next steps we do with the bars be fore open This is the M of MADA. we are at the end of a day nad do not have but one fractal determined for carryover. We NEED a minimum og THREE. Thus we have to wing it and work with what e have to get annotating to continue until we build three nested fractals. Up to that time, we are SOL for doing any level of SCT trading. That is how it goes when a person is a beginner and has not done about 10 days of charts to get the nesting of fractals under way. So on thei chart All that can be done id drills on the annotating in a prpper way. As we see corrcting mistakes is not working since I have to work through some levels of mistakes to clear all the mistakes out of the way. The mind does not erase mistakes that are in long term memory. These memory glitches have to be taken out of use by building a wall of usable recourses in front of them. There is also inventions which have been built in front of older correct practises that have been blocked out by inventions. A new trader also has things in his mind as he begins. He got those as her grew and learned. If they are contrary to SCT and MADA, then they have to be dealt with as well. when a person does drills at the beginning , he, in his way, changes the drill to what he wnats to do instead of what is needed. So after a while these rearrngements have to be work over and blocked by additional correct activities. A trader needs THREE nested fractals to trade. The trading fractal is in the MIDDLE. Fractals are buuilt (annotated from the fastest observable on up. Be mindful of these MADA princilpes of critical thinking and logic.
OK got that. We consider sequential flaws to be an aggregate bar and use that with the next translating bar to form the next RTL. Am I correct then in treating bars 16, 17 18 as one bar? Likewise, 22,23,24, ... 35,36,37, ...38,39,40 etc?