Spyder.. I may have been unclear with my question. I have attached a snippet with two areas shaded that appear to be retraces of channels[traverses?]. The first being a retrace of the brown channel, the second of the blue channel. The first one you reversed early (even before the retrace had begun), as if you knew that it would BO of the RTL. The second one you held, as if you knew that it would not BO of the RTL. These two channels appear to be mirror images of each other to me. I think getting this straight will be an AHA for me. In any event, this will be my last question for today
That is an awesome diagram .. thank you for doing that. It really helps see the layout & fractal nature of the end of the day. However, it doesnt have the first part in question annotated. Your first description states "This VE of the tape-traverse ends traverse and creates VE of the larger channel, next stop FTT of the channel, hence the hold" This points at the 11:10 bar, but I see it perfectly describes the 10:10 bar (atleast to me). The 10:10 bar is a tape-traverse of the pink channel and creates a VE of both the tape and pink channel. I was waiting on an FTT for a long signal, but never got one. The only likely candidates are the 10:10 bar itself and 10:35, neither of which Spyder has marked as an FTT ?? I owe you a beer Romanus
1010 eob is change in the orange traverse which marks transition from dominant to non-dominant direction. Next stop BO/FBO of the orange RTL 1015 eob tried/failed reaching orange LTL and started moving towards orange RTL on decreasing non-dominant volume. Does it ring a bell?
To be accurate it should read "... next stop non-dominant traverse taking price back to BLUE CHANNEL RTL then resuming dominant direction and creating either VE or an FTT of the BLUE CHANNEL." We ended up with an FTT. Sometimes my brain thinks one thing but the fingers type another. Sorry about confusion.
Actually my intent was to communicate the sequences. How does one know not to go short 1110 eob? How does one know in advance that 1115 eob - 1150 eob retrace is not going to BO? How does one know that 1245 eob is not the signal to take? How does one know to hold through 20 pts chubby tape with a couple of change signals in it? This stuff really is in the charts.
Hi romanus, My understanding is that an up Channel is formed in one of only two possible ways: 1. A dominant up Traverse is followed by a non-dominant down Traverse, which is then followed by a dominant up Traverse; or, 2. A dominant up Traverse is followed by a non-dominant lateral Traverse, which is then followed by a dominant up Traverse. If my understanding is correct, then the dark blue lines in your chart below do not represent a Channel, but a Traverse. I noticed something similar in the next chart you posted as well. Do I misunderstand the defining characteristics of Traverses and Channels?
Light blue = aqua (check Spydertrader's chart) is a fanned outward (decellerated) dark blue channel because we had an FBO of the dark blue CHANNEL
Your snippet contains errors in annotation. Compare your snippet with the first chart I posted today. - Spydertrader