Thank your both Guava and Spyder. There is so much that has transpired in the past few score of pages that it's time to stop and really study what's contained therein. At this point, the answer to the quiz just caused another frustrating question. I'll do myself and the forum the favor of not posting that question until which time it has been thought about, stewed, cooked, regurgitated and articulated in the simplest fashion possible.... if I haven't already answered my own question. My hunch is (based on how all of a sudden I seem to get lost with what fractal I'm on and can't figure out how to get back) that the vast majority of those having difficulties are having a problem REALLY seeing the fractal nature of the market. Thanks again one and all.
Try looking at bar six this way: it closed up (close higher than open). The Jokari Window cell that addresses this type of situation reads: If Price is Up and Volume is Down, then the Price will go Down. So basically we are in a down trend with price going lower and Jokari Window signals down, therefore it's a continuation for a down trend. So it can't be a change.
Good AM Spyder from beautiful NW WA state, The chart below has been annotated in such a way as to show only 1,2,3âs and what I have referred to earlier as âtraverse channelsâ. Others have called this type of channel a âmini-1,2,3â channel. Bars 6, 12 and 16 are IBGSâs and should all be colored red with red volume as well. As with your chart we begin the day at bar 1. Some questions; 1.The bar 8 FTT is an FTT of the âtraverse channelâ. This channel is composed of two traverses, an up one and a down one, which in turn are composed of tapes. Yes? 2. Whatever you want to call the channel which is next highest in âchannel heirarchyâ â letâs call it âa channelâ, is not formed by the time the FTT occurred. Yes? 3. After the change highlighted by the FTT has occurred there is a new collection of tapes and traverses but in this case âa channelâ is formed and this takes place at bar 22. Yes? 4. Until bar 22 we just have a âtraverse channelâ. Yes? 5. Could one say then that unless there is a VE of the âtraverse channelâsâ LTL then we donât have âa channelâ? At the moment Iâm not precisely sure how to accommodate a âspike barâ into the above elaboration but that need not, IMO, negate the proposed conclusion. Any comments will be appreciated. TIA lj
Thank you Romanus for the snip and like you I have seen it before. My questions had to do with when the 'conversion' occurred and whether the VE was the signpost for said 'conversion'. lj
http://www.elitetrader.com/vb/showthread.php?s=&postid=2008576#post2008576 http://www.elitetrader.com/vb/showthread.php?s=&postid=1962001#post1962001 http://www.elitetrader.com/vb/showthread.php?s=&postid=1962194#post1962194 HTH
Oh no. Not the 'sigh' guy, again. It is always best, IMO, to declare the obvious before suggesting anyt'ing further. This also allows one to get a feeling for the level of comprehension of the topic being discussed by those who respond to the obvious. It also allows one to get some feeling for the level of comprehension that the poster is perceived to have by those who respond to the obvious. In my case, of course, like Schultz in 'Hogan's Heros', "I know nothing." lj
07-28-08 12:25 PM -------------------------------------------------------------------------------- Quote from romanus: http://www.elitetrader.com/vb/showt...599#post2008599 -------------------------------------------------------------------------------- Thank you Romanus for the snip(s) and like you I have seen it(them) before. My questions had to do with when the 'conversion' occurred and whether the VE was the signpost for said 'conversion'. lj
Corrected. We call it a channel because that is what the market says it is, and yes, a channel has yet to form at this point in time. Corrected. Corrected. Not if you want to accurately describe the events transpiring to form a channel. The same way all other bars fit into the P-V Relationship - as continuation or change. - Spydertrader