Ok, so you can't find the other charts. No problem. What did the YM say this time with respect to long or short? Specifically, the 11:14 [close of] bar? - Spydertrader
thanks for the detailed reply - I will do my best to adjust my point of view. BTW, you said "To me the annotation for Point Two should have occurred one bar prior - making this a chubby tape." Since you went to the effort to mention this here is my reason: I did it this way because the low of the pt1 bar occurred before the high, at which point the pt1 was established. This seemingly ruled out the low of the same bar as pt2 because pt2 comes after pt1 in time. (I thought, anyway).
here is my post with a capture of ES and YM from one of the two examples discussed that day. http://www.elitetrader.com/vb/showthread.php?s=&postid=1914343#post1914343
I may have mistakenly drawn a pt3 channel where it should not have been: http://i276.photobucket.com/albums/kk20/ROMANUS42008/incorrectchannel.png
Again, let's keep our eye on the bigger picture here. Annotation differences of interpretation have little impact in this specific example. Context differences do however make a huge difference. Another example. Check out [close of] 11:50 ES Bar (Today). Walk through the differences here and 'see' why one would no longer expect sequences which show continue down. - Spydertrader
Hi Grav, based on this post http://www.elitetrader.com/vb/showthread.php?s=&postid=1915090&highlight=WMCN#post1915090 "When we have increasing volume while in a pennant, we anticipate price should BO of the pennant in the direction of the increasing volume. This is WMCN." So, based on today's pennant I would anticipate the BO up. The signal and WMCN occurred on the following bar, a BO up with increasing black volume. In the previous example (Guava's), WMCN did not occur. Someone please correct me if that's wrong. Thanks.
Now compare the above time period with the last 4 ES bars beginning with the 12:35 [close of] Bar. What subtle differences exist between these two specific examples compared to the quoted time period. - Spydertrader
it's 13:00:45 and the price is traveling from pt1 to pt 2. FBP FBO indicates that pt2 to pt3 move is beginning?