Bothers me too....lol. Also, to qualify as traverses wouldn't the lateral movements have to achieve a BO of two consecutive bars with increasing volume?
If I have correctly identified the traverses and channels in my previous post. then I am still jumping fractals with my actions Or I have no idea still how to correctly identify a traverse...
I do agree with this, and avoided this answer to avoid oversimplification.. Perhaps that just complicated things Although, if you think about an FTT that ends one traverse (which in turn begins a new one), the first tape would be non dom wouldnt it? Decr volume anyway
Just looking at a slowed down WMCN on the daily. Then looking to see if one knows WMCN on daily, one might know in advance what to anticipate for the dominant channel that may develop.
The actions look good to me. If we have correctly identified the blue and pink (with gray circles) as traverses, then I think those would be valid actions as well. I take trading on the traverse level to mean, reversing on each FTT of each traverse throughout the day. I think it would be beneficial to determine what 'signals' occurred at your circled action points, as I have just come to realize that FTTs present themselves as various signals of change (the 3 mentioned earlier). Sometimes the signal of change occurs even before the FTT :eek: Also, we would avoid acting upon channel level signals of change I believe. I noticed that actions take place on all 3 points of the channel. This makes sense, or it may just be a coincidence of this example. Never really thought about it that way. I think I have made more progress in the past 2 days than the past 2 months, I hope Im not posting too much...
See now this is just melting my brain (2 nights in a row now)... Ok, well I am stinking up the joint with crap posts then. So the orange channel (you have annotated is considered a traverse then? If so, my next query is would it be considered a non-dominant traverse and we are looking to fan the purple channel out again. i.e. "Super Channel" type scenario.
Why does a 2 bar Pennant not satisfy the requirements set forth? In other words, if a non-dominant tape (which has two bars) satisifies the requirements for a signle component, why exclude a Pennant or Even Harmonic formation? - Spydertrader
and don't forget the vol. component, search words: begin channel traverse; http://elitetrader.com/vb/showthrea...&highlight=begin+channel+traverse#post1836546
You arent stinking up anything He has it annotated as a channel, composed of the blue up traverse, pink down traverse, green up traverse I think we are all getting a little thrown off as there seems to be something amiss here, hard to put a finger on it.
I think it might be a constructive exercise (definitely would benefit me) to examine each of these "traverses" and determine if the necessary components are present. HINT: I don't believe they're all traverses upon debrief/reflection. Ehorn - sorry if I've thrown you off...I'm trying to nail this down myself.