I drawn some tapes. I can't understand why you would consider starting your lateral movement on the 10:55 eob bar. There's very little overlap with the 11:05 eob bar. I can't explain logically why starting lateral movement where it most often developes as a result of formation (pennant, etc) makes more sence.
Its still fits the definition for a lateral movement and it comes before the pennant. I don't understand why we would just disregard this especially since we're thinking of it as a non-dominant retrace. By the way how many traverses/channels are there today?
I found this snippet very interesting and I thought a walk through might be helpful. As a disclaimer, this is just my thought process and there very well could be serious errors in logic here. Hopefully I will be corrected if so and it would be nice to spark some beneficial discussion. This starts off very normally, up tape followed by some lateral movement. Around 12:10 it seems that some increasing volume is coming in to confirm the traverse. At the 12:20 bar, we get a split bar on decreasing volume. The bar made a higher high and closed lower on decreasing volume. This says jokari window change to me, although I am not sure as I have had little success in picking out this type of change. At the close of the 12:20 bar, I am a little torn as to whether we have an FTT or just a lateral FBO. At this point I donât anticipate the fan (decelerated traverse) thatâs in the snippet, although I imagine there is good reason to do so. It becomes apparent later that the 12:20 bar was not the FTT, as no BO occurred. However, I am hard pressed to find another signal for change on the traverse fractal in the subsequent bars. The relationship between lateral movement and the traverses that form inside them is one that I have yet to remotely comprehend. I find it easy enough to annotate them, but difficult when arriving at the A stage to determine what holds precedence. In hindsight, we never really exited the lateral until 13:00, so a case could be made that no action should have been taken inside it. However, it also could be the case that a reversal is appropriate around the 12:30 mark. FTR, this analysis is attempting to remain on the traverse fractal. This is also hindsight analysis as I had to miss trading today, thus the lack of adequate annotation.
I always find this hard to determine, although it should be easy IMO. Since everything bleeds together, it is kind of difficult to distinguish the end of one and the beginning of a new one. For instance, in the snip above, is the brown and blue traverse two seperate traverses, or the same one that decelarates towards the end of it?
If you don't know your tapes... you won't know your traverses, If you don't know your traverses... you won't know your trees...
If you don't know where to lay your gaussians... you won't know where to lay your points 1, 2, 3. If you don't know where the points should go... you won't know your FTTs, BO, FBO, etc.
I annotated 12:40 eob as a pt1 of the new traverse down because on the previous bar we have a BO on increased volume, next bar fails to show more increasing black. In fact it shows increasing red as price returns inside the lateral. Jokari window cell - price is down when volume is up.