Nice call. The way I understand it is this gave permission(finally) to look for change on the following up traverse, which came in the form of peak volume at 1340. If not correct please clarify.
By strict definition, Peak Volume arrives on scene at 13:30. However, the market has yet to provide permission to seek a change in mode at this point. As such, a trader cannot apply Peak Volume at this point in time. Good thing too because the market heads higher (almost as if the market knew in advance what it planned to do). No signal for change exists on the 13:40 [close of] ES bar. However, Price then moves off into a Lateral. Prior to, entering this Lateral, one thing expressed dominance. After this lateral, another thing expressed dominance. Perhaps, a subtle difference exists between this specific example of a Lateral, and other examples throughout the day. Perhaps, Point One doesn't sit where you believe it to be. - Spydertrader
Today's effort... Smooth for most of the day, not sure about the end sequencing... Interested to see what you all had
Thanks for the reply. My view was I was waiting for a dn traverse followed by an up traverse so I could start looking for change. I thought my sequences for this had taken place. I was aware peak volume came at 1330 but saw price as still accelerating on the 1340 bar however price came off the high. Just using the ES however I see now there was no sign of change yet. I do see the subtle difference in the lateral and was short in the upper range of it. As for the point one not where I thought it was, this is unclear. On the level I was looking for change it was either bar 1 or 10:45, both tree level to me. Are saying the up move starting at 1320 needed to put in a pt3 before I can look for change? tia