I expected a B2B because the market found itself building an up channel. While the B2B represents a 'textbook' Gaussian Change for a Point Three Up, other sequences can also form the same function (and you know what I am going to say ) - based on the context at the time. By example, we had a Point Three down form at the 9:55 [close of] ES Bar. In this specific example, I did not expect the sterotypical R2R - because we had a different context. Nice trade. Keep up the great work. - Spydertrader
Starting to see the YM distinctly lead at certain points. Also, the recent discussion vis a vis traverses and retraces has helped. After the long period of LM (9:45 - 10:45 on my chart) I began to realize that LM was actually an entire traverse and NOT just a retrace, so then I was anticapating a pt3 up as the next traverse. When the big black b/o bar occurred, the sequence I had in mind was NOT a FTT, but rather a retrace to make a new pt3 up. WHile that LM mess was frustrating, it seems like I"m making some progress on recognizing fractal levels and resolution. Thanks again to all who particapate here.
Thanks for the chart. Things would have been much clearer in the am for me had I not missed that LM LTR.
cnms2, first of all thank you for all your contributions and blotters, they were very encouraging. I've got a question. Why did you choose to annotate your lateral starting with 11:10 bar instead of 11:05 bar? The close of 11:05 bar stays in the range of 11:00 bar and allows further analysis with respect to BO of 11:35 bar and additionally with respect to the change signal coming with decreasing black volume after BO of this lateral with 11:40 bar? TIA. http://www.elitetrader.com/vb/attachment.php?s=&postid=1988970 PS: Spydertrader, you are welcome to chime in, if I'm unconsciously but definitely unintented starting a debate here.