Touche! It didnt satisfy the requirement because I had created a rule that did not exist... Zing That does bring up another issue, that the following tape (after the pennant) must have 2 bars of increasing volume....which would be expected anyway... HMMM Ok I need to redo some charts now, thanks Spyder
Take things one step at a time. Create a list of what must exist on every traverse. Insure that your observations remain on the same fractal throughout. Once completed, apply the list of components onto the market in order to grade your annotation efforts. - Spydertrader
1st observed traverse of the day. I will take this one step at a time. I would love some yahs or nahs as I go through the exercise. In fact I would like to wait for confirmation or corrections at each step (if possible)?
Why do you feel the ES 10:10 [close of] Bar shows Peak Volume? It's most certainly 'a whole bunch' of Volume, but Peak? - Spydertrader
I say "yah". However, would the IBV still qualify this as peak volume? edit: I see Spyder as already answered this for us.
After the debate that has been raging over this topic as of late I am sorry I used that term to describe this bars volume I am really just trying to get down what we are calling traverses. No, this is not peak volume and not what I would consider a signal for change (at this point in my development) and given the context here. Sorry I used that term. Thank you for pointing this out as well.
Yah from me as well Looks like down tape, lateral movement, down tape (all in one bar) . However, I dont get a change signal from the last bar. Seems to me that we get a lateral retrace followed by another dominant attempt that FTT, showing the change signal and thus the new pt1 for the next traverse. Just IMO