Are you still using this colouring convention? If so, that would suggest you saw the entire day as comprising just one standard Traverse?
Yes and Yes... Although the mid-afternoon non-dominant traverse (green) should have been colored (purple).
My PFC indicated that there was a dominant down tape that had a pt2 on bar 80. WMCN, non dominant decelleration to pt3. Bar 2 showed inc red vol back into the channel to complete the sequence. Bar 6 inc black vol soc and B2B that broke the rtl. Anticipating B2B2r2B.
Interesting ehorn. 'Twould appear that you have done the old in-plane vertical translation to get around the AM gap. Like cnms2/charts you also position the 'origin' of the new day at or near the 4:15 PM close of the prior day (a so-called 'split' open). Is this divine inspiration or something else? As was so in another post, this is a query not an accusation. I started the day-long 5 min ES down traverse (what Neoxx is referring to as a 'standard' traverse, if I'm not mistaken) at 10:50 EST after broadening yesterday's terminal up traverse so as to give a P3 at 4:10 PM (on 2/25/09). lj
Nothing new here with regards to the gap. Spy has always told us to "mentally" remove the gap. I just "physically" removed it (Thanks ticktrade!). I had posted my view of yesterday. In it, towards EOD, there was a thin orange tape TL extended out into the future. This TL was not broken until mid-afternoon today (if you remove the gap). This would suggest (in my mind) everything which occurred up until that TL break was something else (i.e. a goat of a different/faster kind)
Thanks ehorn. Now both you and guavaman are speaking about 'goats' and it's clear that you must have been speaking to some sort of goatherder while you were in NY. I think I know who that was and will therefore take your useful information and incorporate it into my, as always, 'developing' market view. Before I blab on about why it bothers me to, as we used to say in one of my prior incarnations, 'massage the data,' let me see if I can understand exactly what you are talking about. Thanks again. lj Edit: Thanks for the clarifying edit.
As my week in NYC draws to a close and the train leaves the station, I wanted to take a few moments, once again, to thank everyone who attended our meeting in New York. I appreciate the effort everyone has made attempting to learn how to trade using the Price - Volume Relationship. Hopefully, those lightbulb flashes (and in some cases, thermonuclear detonations) I witnessed (during the 12 hours together) remain in your mind long after you have all returned back home. Each of you clearly has the necessary skills to succeed, and everyone has, locked within their brains, the knowledge required to profit from the methods discussed within these many pages. Each of you witnessed it in that room; each of you did it in that room. All that remains is for you to maintain that same level of confidence when you sit in front of your own computer screens. As promised, I plan to send a follow up email (sometime this weekend) after I return home. For those of you (for one reason or another) who found yourself unable to attend the NYC Gathering, no need to worry. I presented nothing new. No secret recipe was revealed. No secret formula uncovered. No 'New and Improved' methodology was discussed. I simply repeated the same tired old mantra of making sure one does not miss a critical component of monitoring, by constantly and consistantly creating thoroughly and completely annotated charts. In addition, I stressed the importance of maintaining the same trading resolution level throughout the trading day by not jumping fractals unless one does so intentionally. As to whether or not those attending the meeting found value in the presentation, you'd have to ask the 30 (or so) who sat in the audience. Judging by the looks on the faces staring back at me, I'm confident a few people found the information presented useful. My thanks also to Mikeytrader and Ireland for their assistance. Mikeytrader's organizational skills provided the single best deal for food and drinks on the island, and Ireland's tireless efforts to keep the trains running on time allowed us all to pack more information into our limited schedule. Again, thanks to you both. Lastly, Jack plans to speak at the Las Vegas Expo in Novemeber of this year. I look forward to seeing everyone again at that meeting. For those of you who couldn't make NYC, I encourage you to make plans for Vegas. Good trading to you all, and I look forward to watching your success in the future. - Spydertrader
... this translation is useful in clarifying the sequences ... extending trendlines over the day's break is less accurate, and using this kind of translation may not be indicated when drawing trendlines ... e.g. on the daily chart today's bar stopped at the RTL of the tape started 2/23-24; on faster charts, that RTL was already broken, and arguably a faster slope traverse can be seen