Romanus, Do you think we are going to continue down for a nice trending day or start going back up to close near the open for a V day?
Unless I seriously messed up my gaussians in terms of fractals, I believe we have arrived at p2 down (of reg 5 m ES) around 1340 and now retracing to p3 (of reg 5 m ES) down.
In the past several weeks I have had a number of discussions with various thread members and in the interests of closing those âthought threadsâ out, will, FWIW, post my take on what weâve been chatting about. I mentioned in a post on 2-12 that Spyderâs most recent detailed chart (2-3-09; the one from NYC aside) had a couple of features which I thought were of note. One which I mentioned was his abandonment of the âPâ marker. Another was a clear demonstration of the fact that volatility expansions do not of necessity indicate the presence of a newly-formed channel. I have seen this many other times but in his chart of 2-3-09, it is well shown with the blue uptraverse beginning at 13:35 EST. Contained within it are tapes and 2 fftraverses of differing slope. Interestingly, this area also shows a VE of a pre-existing upchannel which as best I can tell is in fact a super upchannel. I am still working on his Gaussian constructions in this chart, the most important aspects of which are, as romanus just said, that they follow trend lines and as others have said, they are sentiment indicators which may or may not parallel volume changes. The question about why the JHM uses the time period from 4:00 till 4:15 has produced no answer. As I said earlier I am quite willing to accept the âit works so thatâs why itâs usedâ dictum and will leave things like that. Palinuro mentioned one way of getting around the question of when to âturn things off for the dayâ and that was to use the 24 hour Globex. He has worked things out to his current benefit using that workaround and again Iâm going to leave well enough alone after hearing what he had to say. Constant volume bars are a great way of improving the S/N ratio and I definitely agree that the overnight H/L are important S/R lines (he may well have others but thatâs what I take from the âafter hours marketsâ). Then there was a blab with romanus about tapes, Gaussians, âPâsâ and laterals and as I said, I still am using the âPâ and laterals crutches. I did not find validation of the âcomplementarityâ thing but then romanus didnât say there was such a thing. Finally there was some talk about âverticalâ translations and I would agree with both ehorn and charts that such things are useful for âsequence continuityâ matters. I would further agree with charts that one should not construct trendlines based on a physical translation. On the other hand if ehorn has found that he gets satisfactory results (however one might wish to define such a term) by doing this, then, for me, thatâs something worth noting. Palinuroâs comment about confidence is spot on. However if your sequences are wrong and you donât know it till after the bludgeoning has convinced you otherwise, it can be terribly demoralizing. I have no doubt that everyone, Spyder included, has gone through this sort of thing and it truly sucks. There are days when the sequences play out in an almost mindless fashion but there are days when they are much less obvious. The simple fact that I have said something like this demonstrates that I do not as yet have the 5 min ES traverse paradigm down pat but I will continue to work on it till I do. In the meantime I have opted for a WGTrader approach â a tape-based faster fractal way of doing things supplemented with the info I get from the 2 minYM and 15 minES. It is imperfect but itâs what I can do right now. IMO, the central question posed by Spyder some time ago remains unanswered. What makes the standard traverse (I like Neoxxâs nomenclature) what it is and how is this different from the fftraverse? Or put another way, what does the fftraverse lack that the standard traverse possesses? The answer is of course in Spyderâs chart of 2-3-09 and a large number of charts preceding this. lj
I thought price would be going back up from the little dryup mark on my chart for a V day. After seeing what we have, I am lost as to where our point 1 is for the super channel. Gonna have to spend few more hours redrawing my chart to find it... I am happy with my traverses though.