Spyder, Can you tell me your current pace lines? Are they the ones we have used , or have you changed them to present?
The trend lines currently shown on my charts result from Automated Formula - updated for each bar. Obviously, those values change ever so slightly over time. The absolute Values of these lines aren't as important as the changes which take place in the Volume Levels (i.e. do you have a Pace Change or not?) between bars. However, if one does not have the ability to create Dyanamic pace Lines, one can use these Static levels for both the ES and the YM: ES VDU 2500 DU 4000 Slow 6500 Medium 8500 Fast 18,000 Extreme 20,000 YM VDU 50 DU 250 Slow 400 Medium 600 Fast 800 Extreme 1200 HTH - Spydertrader
Thank you Spydertrader. I've got a question. Would it be a mistake to regard the fourth bar on your chart as an FT3? If so, why? TIA. PS: I "see" we are in a lateral movement here, but this fact just adds a confusion, since increasing volume (on bar 4) in a LM should indicate a change?
You are most welcome. The market has the answers. Clearly, yes. The market had not finished moving laterally. You determined the market signaled change. The market said otherwise. Between the two of you (the market and yourself), which one is always right? Hence, something (a subtle difference, perhaps?), remains 'unseen' by you at this time resulting in an incorrect Analysis or Decision on your part. I recommend spending more time on monitoring until that which you currently find confusing reaches clarity. - Spydertrader
Thank you for the chart. 1130 eob (inside bar) shows increasing black. It is possible to draw a channel using 1115 eob as pt1, 1120 eob as pt2 and 1130 eob as pt3. Would annotating this pt3 formation be correct? You saw it as a traverse in a pt3 pink down channel. EDIT: got it - 1125 eob creates lateral formation and 1130 eob closes inside lateral formation. Annotating it as pt3 formation would not add any more data to the data set.