Iterative Refinement

romanus,
if ES signals continuation, why do you go to monitor YM? I thought that YM leads ES at points of change ?

TIA.

EDIT: Got it.. we were at the LTL.

 

Because ES gave me permission to do so, therefore I have to and I must.

If YM shows change first, which then materializes on ES, doesn't it make sense to watch YM for signals of change any time ES gives you permission to do that?

 

Thanks.

 

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1980041>

 

Ahh, the very rare, annotated, lateral channel!

 

Thank you for the chart. Those large scale lateral channels tend to confuse the hell out of me, when they appear from time to time (with equal highs/or lows). Seeing that one can annotate them as a pt3 formation is a nice breakthrough for me.

 

Many, no doubt 'see' things not annotated on the previous chart. What is more important is what is annotated, but people do not 'see'.

- Spydertrader

 

Note how one can 'see' an "Up" Lateral (not annotated) and the "Down" Lateral within the same lateral channel.

- Spydertrader

 

I suspect you're referring to a rather large, gaussian peak R/\B which corresponds to the lateral channel.

 

This is reference grade material.
Many thanks.