Long at whatever point you see fit Short at 14:05 on pennant FBO Long at 14:50 jokari window? (RTL bounce) Exit on close the way I see it anyway
This may be helpful: http://www.elitetrader.com/vb/showthread.php?s=&postid=2012091#post2012091 For the sake of clarity, I don't have the answers. It's not that I don't think about it, but more like a dog admiring a rainbow from afar: "Hmm..., there's something there, I wish I had more brains."
I see it like this. Feel free to correct me where you believe I'm wrong. I believe the purple is a channel created by three traverses(pink and blue dominant and red non-dominant and the changes are labeled also including the fan.
IMO, TIKI's chart more accurately reflects what has transpired in the area of interest - the 11:50 bar (bar 30) is not a 'naked' point 2 bar in a new LTR movement. This is so because the BO failed. So you draw a new LM beginning with bar 29. http://www.elitetrader.com/vb/showthread.php?s=&threadid=113310&perpage=6&pagenumber=982 Is this correct Spyder if you're still up and if you're not it can wait till the AM. lj
After looking it over I agree with you. This would mean the first traverse of the day is completed at 12:35 end of bar and this bar also shows decreased volatility on increased volume(tape change not labeled cause not monitoring on this fractal) leading to the fanned green traverse in romanus chart. Also romanus has a broadened lateral at 12:20. I would keep the original lateral beginning at 11:55 and extend it to find that it breaks at 12:30 on increased volume while 12:35 provides the "naked" as you say Pt 2
My clip shows p1 at 09:55, p2 at 10:10, and p3 at 11:40. Is that not a 1,2,3 "tape, lat, tape" sequence?
I think what he is alluding to is this. Lilyoung step in and correct me if Im putting words in your mouth. Notice my additions to romanus chart. Forgive my chopped off volume at the bottom.... that was a mistake. The lateral movements begin as so....black lateral breaks out at black circled price bar. The following price bar(orange) fails to provide more increased black volume. No Pt 3. Fluorescent green lateral begins and then ends with Break out at green circled bar on increased red volume and fails to provide more increased red volume outside of lateral. BUT we're looking for a confirmed Pt 3 dominant UP tape here to complete the UP traverse. I'm just showing the break of this lateral movement to show the progression. Brown lateral begins after fluorescent green lateral and ends at Break out with brown circled price bar on increasing black volume. The next price bar(yellow) fails to provide more increased black volume meaning the brown circled price bar broke out of a lateral movement and thus does not complete our traverse(I think it was posted once as this doesnt a trend make by someone). Finally after all this. The blue lateral begins and breaks out on increased black volume at the blue circled price bar. The next bar(pink circled bar) shows a Higher high and increased black volume so we have our pt 3 finally as opposed to just a break out of a lateral movement as in the other cases. When lilyoung says naked bar it means I'm assuming(you'd have to verify with him) that he means a price bar remains outside of the lateral while also providing increased volume. The pink circled price bar is the only bar that does this. So pt 1 confirmed 9:55.... point 2 confrimed 10:10.... and pt 3 confirmed at 12:35 end of bar. All one traverse.
Thank you for the detailed explanation. However, this reasoning would also lead to a hold on the 11:20 bar on 7/18 because it also lacked the required increase in black volume after the lat bo. The attached clip shows that bar marked as an FTT and completion of the green traverse.