Iterative Refinement

Today

 

I have 2 bars at the end of the day that confuse me, anyone else had the same here?
(see chart in attach -- sidenote: I can only be online the last 2 hours of the day, so everything before is not annotated)

--
innersky

 

Hi,

First one is lateral FBO, stay short (or go short). Second one is increasing black volume. Change to long if you did not do so before.
Ivo

 

First - Hold short. The Bar is non-dominant. Price (at close of bar) remains within a Lateral. Dominance remains down (red).

Second - Hold long. Change developed prior to this Bar providing a reverse signal. Dominance is now Up (black).

- Spydertrader

 

Thanks ivob and Spydertrader.

I understand that the first one is hold because it remains inside the lateral at close, I just might have reversed long at the breakout of the lateral on increasing prv (thinking I missed a channel or something)

The second one confuses me because I expected decreasing black after the reverse signal, but got increasing black instead.

--
innersky

 

Decreasing black towards RTL is the least you need (after change). Increasing black is even better.

IVo

 

Spydertrader, if you'd be so kind. You annotated red down traverse beginning with pt1 on 13:00 [close of] bar (lateral movement FBO). Am I correct in assuming that

(1) sequence that started with pink pt1 on 12:05 [close of] Bar was not completed on 13:15 [close of] Bar that is marked with red pt2?

(2) the red OB 13:55 [close of] completes that sequence mentioned above?

 

Two ways to go about this .....

1. I can guess whether or not you meant the Outside Bar at 13:45 or the actual 13:55 Bar (which isn't an Outside Bar) in order to answer the question posted.

2. I can know the bars to which you refer by looking an attached chart snippet which someone provided in an effort to avoid any confusion.

Which do you prefer?

- Spydertrader

 

I apologize for the confusion.

I meant 13:55 [close of] bar which is an increasing red volume (with blue letter P) Bar (which isn't an Outside Bar).

I am referring to the chart you posted.

Sorry for the typo.

 

Correct.

Correct.

However, let's say someone hasn't yet learned to differentiate Peak Volume from Pace Acceleration, and they decided to head long at 13:10. WHat happens then? Does this trader make it back onto the right side of the market?

- Spydertrader