Among other things, but yes a Pennant BO FBO works to change the market mode from short to long. - Spydertrader
THIS IS IT! Thank You! So today was one big dominant traverse on this fractal only. I was trading tapes then today? based on my previous post highlighting actions points? Or traverses inside this fractal discussed? Again this is nomentclature which I am trying to sort out in my mind.
Ok guys, stop for a moment and think. We needed to see an end. We did not find an end. Price sits within a Lateral. Therefore, since we still need to locate an end to a down Traverse, this Lateral can only be a Retrace of a yet to be completed Traverse. - Spydertrader
What you 'see' here is Intra-Fractal Movements (I just made up that term) which correspond to actual traverses on smaller fractals (For example, The YM provides a signal for change (10:26) creating the signal for change needed on the 10:30 ES bar, and as a result transforming this (10:30) bar into a New Point One of a soon to be confirmed up traverse). However, for those only using the ES, no such signal exists. As a result, the trader, wanting to stay on the same trading fractal needs to hold. - Spydertrader
BINGO! One big honkin traverse Thanks for solidifying that Spyder! I was almost afraid to think of the day as such. But that leaves me wondering what fractals I am trading on then. I will save this for the weekend study. I really will bear down on the distinction in fractals so that I can know where I am within each as I trade them. Thanks again for your time in illuminating us this evening (again) Have a great night Spyder.
Since the down traverse had no end, any trades (other than to hold) would represent jumping fractals....or trading tapes within the one traverse. Intra-Fractal Movements (IFM)...nice!
Sure it did! I think ehorn's analysis of the dominant traverse was spot on (where he posted the chart snippet). In other words I believe the traverse level trader had every reason to reverse to long after the anticipated FTT (following Peak Volume* in the dom traverse) and hold through the anticipated B2B. So we are long into a non-dom traverse. We anticipate a P3 of our channel and it arrives with the FTT of the non-dom traverse (so what if it fails to traverse after P3?). We held long through P2, P3 until the FTT (which sure enough arrives after Peak Volume in the non-Dom). * If that is not Peak Volume of the Dom traverse, I don't know what is (irrespective of requirements for accel over 3 bars etc.). Volume peaked, dammit! What is wrong with this analysis? I don't get it but I'm sure you are trying to share something important here.
Aha! Again, nothing wrong inherently with 'jumping fractals' as long as the trader knows this to be the case. - Spydertrader
Ahhh, You introduced it last evening and I had no idea what it meant I am seeing continuation and change better and better. I just need to perform more drill to insure I know where I am (with respect to each fractal) and its dominance. Thanks again for everything Spyder! EDIT: Here you make a clear distinction that traverses do exist (i.e. fractals within fractals) = But the trader must be mindful of what resolution he/she places themself into. Note to self: New commandment Thou shalt always know the fractal thou art riding
I was thinking that if we had a traverse materialize with a BO of the bottom of this enormous lateral, that we would in fact have a channel? down traverse/lateral movement/down traverse It seems that you are saying that once a breakout occurs, we will have completed a traverse. Is this due to the fact that we have not had end effects of the first traverse yet?