As a follow up, does anyone have the answer to how one can 'know' these bars cannot form an ftt in realtime? My interpretation: harder to put into words than I thought... I will be working on it
I don't remember the day, so I can only look in hindsight. Here is the charts posted by PointOne. After the channel has formed a point 3, the dominant traverse of the channel had yet to make a point 3. The signals were increasing black and decreasing red volume. Looks like that area was lateral movement from a point 2 to 3 of the dominant traverse. That needed to complete before an FTT of the channel could form. I may have this wrong so any feedback here is welcome. EDIT: PointOne had mentioned he fanned and Spyder started a new point 3 of the traverse.
What is volume telling you at the time and where are you in the sequence with regards of point 1,2 and 3?
This makes sense for the first bar in question (12:10). However, on Spyder's chart he has a pt3 annotated for the dominant traverse at 12:20. There still seems to be no answer to why the other two bars mentioned (12:25 and 12:45) CANNOT be FTTs. I figure he mentioned those specifically for a reason, just cant seem to find it. These types of issues have been cropping up lately and I really havent seen anyone that has it down pat. I have seen quite a few posters that I respect and that have worked hard at this for years struggle with this very problem. I would really appreciate an answer to the proposed question rather than some rhetorical "what is volume telling you" or " do 100 charts and you will see it " type thing. In my opinion, there is a ruleset that has not been introduced or that has been misinterpreted by a large group of folks here. A clear answer here would enable beneficial drilling to happen and I, and countless others Im sure, would be extremely grateful.
Do not mistake silence for failure to comprehend. Time represents an arbitrary measurement of effectiveness and efficiency. I recommed a review of the Carpenter who hammered nails incorrectly for 20 years. I provided an answer. Just because you don't like the answer provided, doesn't mean you didn't receive an appropriate answer to your question. Yes. In the beginning, a large group of people failed to follow the advice given, and as a result, they chose to move forward without grasping fully that which one learns at step one of the process. Understand this. I provided nothing new in the last seven months of posts. At best, I reworded information previously posted, and most times, I simply repeated answers I had already provided in the past. In addition, last year's entire journal contained nothing new. Everything had already been discussed many times before. The answers you seek do not come from others. The answers you seek come from within your own brain. Turn the brain on, and go find them. - Spydertrader
Spydertrader, thank you for your recent chart. Can you explain what you felt, after you'd got this "final" AHA experience (if there is any)? What exactly changed in your mind? Or, to put it differently, what exactly does an aspiring trader have to let happen in order to "get it"? Sorry, if my questions sound silly. The contributions from anyone, who "got it", are welcome.