Iterative Refinement

Discussion in 'Journals' started by Spydertrader, Jan 3, 2008.

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    #3981     May 22, 2008
  2. gucci

    gucci

    Spydertrader is it the third way? (V up P lateral) The bar before the FTT ?:)
     
    #3982     May 22, 2008
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    #3983     May 22, 2008
  4. point 3 up trade....:D
     
    #3984     May 22, 2008
  5. Don't you love those breakouts on increasing volume:D
     
    #3985     May 22, 2008
  6. Padawan

    Padawan

    Atari, excellent. Sorry it's taken a while to back to you. Thanks for the drill and the response. This is really eye-opening.

    Looking back, the previous bar at 1030 was an OB and a pennant BO on increasing volume. Then we got more increasing red (which broke the lat movement) at 1032 signifying the trend was down. Additionally, the previous traverse down looks like a steep or accelerated channel, providing more assurance that we just put in a wider channel point 3 at 10:32 and next need to look for a VE or flaw.

    So, I think the BO of the lateral is not really relevant because we have to consider the channel sequences as well. The 1032 bar was not part of a pt 2 to point 3 move of an up channel on temporarily increasing red (we know this, in part, because it took out the low at 1018). It was not a break of an accelerated up channel for a couple of reasons, and it was not a spike bar. Instead, the lateral BO was the move from the point 3 into the channel.

    Trying to think through the sequences is really helpful. Thanks again.
     
    #3986     May 22, 2008
  7. 134510
    lateral formation FBO followed by DBV => change
     
    #3987     May 22, 2008
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    #3988     May 22, 2008
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    #3989     May 22, 2008
  10. 140930 what must come next did not
     
    #3990     May 22, 2008