Iterative Refinement

Sorry, my friend - I have yet to determine with 100% certainty when the market tells me to fan and when not to.

 

Ditto. A perfect Point 3 entry indeed.

 

so we have an OB, so do we duplicate a tape tl or start over, start over how?

 

FWIW, I saw it as our PT3 and acceleration down ..

 

The market did not agree with my view... lol

The OB was PT1.

 

And FWIW, a slightly different perspective - a p1 short

 

The market liked that perspective

 

which one gives you more context?

#1

or #2

 

Hi nkhoi,

I have attached my thoughts... any comments or feedback always welcome.

 

Thanks for that Ezzy. I look at it this way: until you have p3, the channel (be it a tape, traverse, Channel) is still undefined. So if you have to wait for a 3rd bar (to put in the definitive rtl), you wait for that bar. Hence treating internals as one bar.

Using end of bars (regardless of when they appeared) may add visual context (and may not make any difference to the end result) but is does not necessarily describe how the market moved. It is often done when annotating charts in hindsight.

So do 1,2,3 have to occur in order?

For me the answer is clearly YES! and it is a fundamental tenet of the market and a truism.

My supplementary question, following on from ehorn's illustration of the sequence following the OB that nkhoi posted, is this:

Does the rtl of the tape to this OB have any significance? Does it have to be broken before we can look for the slower fractal P3 (in this case the P3 short as on dkm's chart)?

I suspect this rtl has no meaning as it is constructed "against the rules of channels" as Jack put it.

Finally to Ezzy - many thanks for pointing me to Jack's internals documents. As usual I have discovered more areas that need to be differentiated and will do a separate post on this.