This is the ES Daily Chart Shifted-Gapless for Oct 16 09. My question is the peak trough annotations. Anyone like to take a look at this peak trough volume annotations and see if it is correct ? Any and all feedback is welcome. This chart was kindly forward to me by Rainman and kudos to him for this chart. Trendlines were on the chart already, but I had drawn in volume peaks and troughs, and also a horizontal line I added to the price highs of Sept 23 to compare the highs of yesterday.
Hi Tiki, FWIW, here is how I am tracking it... But if one chooses to begin taping on the price bar which exits the lateral then one could make the case that we created a VE on this non-dom leg and require another go around. I believe rainman2 was suggesting that as well with his thoughts on bbt requirements for this leg. IOW, while one may consider this up leg to be non-dom in the larger fractal - it will require another non-dom then dom sequence on its fractal to complete.
Ehorn, Thank you. Any and all feedback, so anyone is welcome to jump in. Thanks again for your contribution and a very quick reply. Good analysis.
I will post the ES Daily Gapless chart exactly as I received it with out gaussians. It is easier for anyone who would like to annotate their analysis on it. Thanks to rainman again for this chart
This is Ehorn's analysis of a lateral break with volatility expansion, which leaves sequences on that fractal to complete
My observation is where each version places PT1 and how it reflects DOM vs NON-DOM. Aside from that, I agree, they are very similar. More broadly, It appears to me that we are developing resistance (i.e.laying the foundation) for the larger dominant container (daily RTL -PT3) in this area. Admittedly, I am still developing the ability to gather data sets and timing on this scale.
There is resistance building up and it is a very clear and obvious reason why when a look at the DJI monthly and ES monthly bars are brought into the picture. The 2004 - 2005 area of price has now come back into the scene and acts as resistance. DJI chart attached for clarity. edit: small typo on date of chart oct 6, suppose to be oct 16