Iterative Refinement

It was the increasing black bar ( 64 ), inside bar of Sym pennant on increased volume.

 

My view of the day (ES).

 

I actually agree with you on the one traverse you have that I don't but my question is this traverse necessary for the process of reaching the channel?

To be honest from now on everything I see as a traverse I'm going to annotate it to make sure.

 

I honestly did not have confirmation on my actual FTT bar, until the point 3 bar formed.

I do understand I need a beginning to what was the end of the up traverse, and must have a reason for that BAR 1 FTT.

I need to seek the answer to the reason for change on my chart, the FTT, and what that was.

As mentioned in my previous post, there were other IBGS bars inside lateral movement on increasing red volume that went nowhere. Bar 20, Bar 34, bar 52.

This bar 55, was not a confirmation for me till the point 3 bar 61.

I need to find out why if change took place on bar 55, and what it was, and why I did not recognize that change till some bars later. Or if I have created something that does not exist. I have some work to do.

Thank you Spyder for all the support here.

 

I am not sure to which traverse you refer. Perhaps if you point out the area in question we can have a bit of dialog.

 

When Spydertrader mentioned that Peak Volume requires 3 bars in order to create an acceleration of the Gaussians, I understood him to mean that Peak Volume requires a 3 bar sequence such that:

1. The second bar in the sequence shows an increase in Volume over the first bar, and

2. The third bar in the sequence shows an even larger increase in Volume over the second bar.

For example, if Bar 1 of the sequence shows a Volume of 20,000 contracts, and Bar 2 shows a volume of 30,000 contracts, then Bar 3 must show a Volume of no less than 40,001 contracts in order to qualify as Peak Volume.

Edit: Keeping in mind some of the nonsense I posted last week, I recommend waiting until we get confirmation from our mentor before taking the above as a correct definition...

 

You have the black bold traverse.... I didn't originally. Thats your fifth traverse. I had 4 for the day.

 

Oh, I see. That is actually my 3rd traverse (as I have counted them today) of 5.

 

You may not be correct with respect to LM not being considered a traverse.

http://www.elitetrader.com/vb/showthread.php?s=&postid=1986324#post1986324

http://www.elitetrader.com/vb/showthread.php?s=&postid=1985726#post1985726

 

So does that mean that your earlier assessment (for which I complemented you) was right then?