I believe this covers those who purposely post ill-informed or purely self serving information as well those who call them on it. Correct?
I would start the non-dom channel back to the RTL from where the previous channel ended and hence my answer is no.
Yesterday, the Final Four Bars of the Day created a Down Traverse. This Morning, Price 'gapped up.' As such, the market showed we had nothing "to continue" from the previous day. In such an environment, adding Carryover Channels represents a useless exercise. Now, I could have annotated an Up Tape from the Final Bar on the Previous Day, but see no reason to do so. The increasing Black Volume Bar (on Bar One) tells me all I need to know, and as a result, I begin the monitoring process at the close of Bar One (if trading End of Bar). The placement of Carryover Channels on days where a gap does not develop represents an attempt to orient the trader to the market when the trader cannot see that which devlops otherwise. I begin each day, the exact same way. Today, the market provided the sequences needed to complete an Up Traverse and a signal for change just as the market came out of 'sync' signaling the trader to enter short at Bar 4. On other days, the sequences needed to complete a Traverse may not arrive until much later in the day. If you cannot 'see' the sequences unfold, then I recommend (as I have indicated to you several times in the past) focusing on monitoring until you can see that which you have previously overlooked. In an effort to show how using the ES five minute chart exclsuively provides the trader with a sufficient data set required to trade profitably using End of Bar only, I have closed up the Medium and Fine Level Tools from my charting platform. No YM. No Str-Squ. No DOM. No Tic Chart. - Spydertrader
The solution set for when you think someone is posting ill-informed or self serving information includes two options: 1. Click on the "complain" button. 2. Use the ignore feature. It doesn't include posts and counter-posts ad infinitum which only serve to detract from the thread. -Au
Spydertrader, thank you for your response. Why didn't you annotated the first tape after BO of the first up traverse as a second traverse on this chart? Is it essential? Do I miss something ?
Thank you for this insight. This will definitely make me look at the openings in a totally different way.
Because it isn't a Traverse. The Pink Point Three Represents the first Down Traverse in the chart you posted. - Spydertrader
If I have understood you correctly, what you are saying is that CO Channels are not of utility on days where there is a large opening gap and on days where there is little or no gap (so-called split opening) their use is unnecessary if a trader is oriented to the market. So in short, you don't use CO Channels and begin each day the same way by monitoring from the close of bar 1 (if trading End of Bar). Is that correct? I am no sycophant but allow me to say that your development and elaboration of the tape/traverse/channel paradigm is entirely impressive to me. When one can see the sequences, the market truly is revealed in a most unique and clear fashion using just the 5 minute ES. My statements of yesterday in reference to bar 8 of 7/15 were my way of trying to understand why that bar was a reversal bar for a traverse trader. There was a tape ftt (not a reason to reverse for a traverse trader) and VE's from the orange downward traverse and the purple channel. There was as well an obvious Jokari driver. It had been my understanding that a VE alerted one to anticipate an FTT. There are many times when we see multiple VE's with decreasing volume and hold. So if it is not the position of bar 8 in a CO Channel which drove the reversal, is it the fact that the peak volume associated with bar 7 provided the culminating context to indicate that a traverse trader should reverse on bar 8, the bar which, as it turned out, marked the lower border of the purple channel? Others have queried why you did not fan out the orange traverse RTL to create a new point 3 at bar 12 with the FTT then coming at bar 14 and that bar becoming the reversal point for the traverse trader and I must admit that I would have picked that reversal point prior to hearing your explanation concerning bar 8. But I am here to learn Spyder. That has always been the case and will continue to be so. Good trading to you ($45K in 2 hours - sweet) lj