here's the post... http://www.elitetrader.com/vb/showt...t=first+bar+of+day+is+nondominant#post2179912
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.
Probably too early for a post mortem, but my analysis required a completion of the Lateral and Pennant BO from Friday prior to a down traverse.
... 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.
From my perspective: 2 closes outside are a BO, increasing volume with closing inside previous bar is a signal of change. EDIT: 1615 completes the sequence too.
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
Here is my M so far today. It appeares there was a TN data glitch between 11:45 and 11:50. Did anyone else have the same problem?