Spydertrader, in the chart attached from today, the blue up traverse that started yesterday, has it become a channel today? And if so, when did it become one? And if not, then where resides the up channel? Also, many thanks for the journals you made. I've learned a lot from them and your posts. -- innersky
Many times, the market has provided examples where a Tape widens out and becomes a Traverse, or in this case, where a Traverse widens out to form a Channel. The exact point in time for such an event, occurs when that which defines a certain thing exists on one's chart. However, the market does provide clues in advance of the event horizen. Since the market builds Tapes, Traverses and Channels in very specific ways, one simply needs to learn to see the initial delivery of constuction materials arrive on sight, and after noting which materials arrived in the delivery, one can know what the market plans to build. - Spydertrader
In other words, " Knowing that you know refutes the need to wonder if you know or know that which you don't know in spite of subconsciously knowing that you already do know that which you think you don't know." One more year of this journal ought to do it. .... Thank you Spyder for an enlightening year.... Best wishes and Happy New Year to all!!
ES for today. Inspired by WGTrader I have started to annotate 30 min ES to get a feel for the larger fractals.
Perhaps because one of the areas you determined required a 'Point Two' Annotation could not possibly represent a Point Two. After all, if one has not yet reached point Two, then one cannot have arrived at Point Three. Of course, if one has yet to arrive at Point Three, then one has no business looking for a signal of change. - Spydertrader