You posted an incorrect PFC (day before yesterday, I believe) indicating a down traverse forming at EOD 12/08. Remove that from your mind. Now, morning of 12/08 the market places a Traverse Point Two at 9:45 (already discussed) with Point One occuring the previous day. Point Three of our Traverse arrives 10:30 / 10:35 - ish (having since deleted my annotations, so exact time difficult to provide without a complete redo). HTH. - Spydertrader
Thanks Spyder that was definitely helpful. I actually had the early part of 12-08 as you said but where I was getting screwed around was deciding where to place the RTL of the channel. So if the up traverse which began at 14:00 on 12-08 did not finish until 11:05 on 12-09, then the RTL of the channel will have a P3 at 10:00 on 12-09. The remainder of the time from then till close today will reflect a down-up-down traverse with what looks tentatively to be a 'breakout' up traverse of the fast fractal type forming EOD 12-10. What was driving me nuts was the 'penultimate lowest low' before the highest high requirement for a TL but clearly that must be tempered by things like down gaps and fast fractals. The other thing is that when a fast fractal is in play one can get "pseudo-VE's" which can make the decision about traverse vs channel more complicated. That's what I was messing about with today and do realize that correctly annotated Gaussians will eliminate that uncertainty. I can post the beast but I think it would do more harm than good, so I have painlessly dispatched it. Suffice it to say there was NO super-channel today. Thank you again for your help. You will be sorely missed when you leave. lj
I think we are all throwing around the "faster fractal traverse" vocabulary word a little too much without any consensus on what it is...(apologies if anyone is sure). In looking back over some recent days posts, this one clarifies the definition for me... http://www.elitetrader.com/vb/showthread.php?s=&postid=2203447#post2203447 So if that is the case, there should be 3 FFT's within each traverse. If, I'm right, then I'm cool...I get it....What I don't get and/or can't anticipate is when you get a completed traverse show up as looking like a FFT. Attached below is a snippet of what I presume to be 2 completed traverses that appear to be FFT. I don't assume that annotations are correct and would very much appreciate any feedback.
here is my eod. I am unsure of the final blue channel although the gaussians seem to match up. gooch87
Well, it has been 24 hours since I posted my thoughts on how to know a new dominant channel is forming. Since there have been no responses I figure it is either: A. Monumentally stupid. or B. Everyone but me already knows how to know at 10:45 12/5 that a new dominant channel is forming. Either way it's back to the grindstone.
An opinion only, breakeven, but probably neither. As for the grindstone, all thread members have managed to find their personal version and you will too if you hang around. This is a treasure hunt with a fackin' great sack o' gold at the end. Enjoy. lj