gucci, On outside bars, you are looking for a break of the initial bar. If an inside bar forms next, the formation is a lateral. Best Regards Oddi
What does the market say? 12:10 [close of] ES Bar represents a signal for change. As such, it also represents an FTT - creating a Point One in the process. I encourage you to differentiate between decreasing Volume at an RTL which was not preceded by a signal for change, aand one which was. The bar should have been annotated from the 12:20 [close of] ES bar to the 12:25 [close of] ES Bar. I suspect sometime during the day (while attempting to gab another annotation) I inadvertantly moved this line without noticing. Perhaps, you can eliminate your own surprise by telling me what signal for change exists at the time you mention. - Spydertrader
I see that price failed to reach the left trend line. We have a change from price moving down to price moving laterally, which I understood to be change. We have price forming a higher high on the next bar which has been described to me in the past as change. We got rtl bo on decreasing vol which I understood meant that the rtl should be fanned. It seems I was wrong on all counts.
This is a Vocabulary word used to descibe a signal for change which occurs at a specific point in time. Using the Jokari Window, what signal for change exists? As I stated in a previous post one must have a signal for change (on the correct fractal) in order to have an FTT. Since you only have a 5 minute ES chart in front of you, without a signal for change, one cannot have an FTT. Again, Jokari Window says what on this bar? Set aside what you think you know. Again, the Jokari Window doesn't say what the next bar will do. The Jokari Window provides information on what action to take. You also had a down traverse (Dominant) followed by a small up Traverse (non-dominant). What do you think must come next after such an event, combined with a signal for change on the non dominant traverse? - Spydertrader
On the 13:05 bar, I don't know what jokari says because price has not moved up or down relative to the close of the previous bar. After a dom short traverse and a non dom long traverse I would expect another dom short traverse.
Apply some critical thinking to the problem at hand. The Jokari Window indicates what is change. Does this scenario fit with what the Jokari Window says is a signal for change? Of course. In such an environment, does it seem wise, to you, to be 'fanning out' an RTL of an Up Traverse? - Spydertrader
I presume you are implying that if there is no change in price then jokari cannot give a change signal so the net result is no change. I am now wondering why the FTT on the attached clip is different.
Thank-you for providing an example of how a failure to thoroughly annotate a chart can lead to confusion. By adding the missing Lateral Formation, you should easily see a different context with this example compared to the example under discussion this morning. - Spydertrader <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2011186>
A different context? Both appear to be traverses made of 3 tapes, one ends in an FTT and the other doesn't. The first ends with a higher high on decreasing volume and the second "ends" on a lower low with decreasing volume - except it doesn't end. Is it just the difference in volume levels relative to the previous bar?