Did you have an SOC at 1355? If so could you explain? I do not trade strictly the traverse level changes so I am unclear where the actual pt1 for the up traverse is. For me the 1500 bar was the SOC and 1505 confirmed it. That is where I got long and quit looking for short entries. 1540 told me change but I viewed it as pt2. I can see how others have come up with an alternate scenario. I continue to lack cerainty/consistency on sequence completions and signals of change that follow those. Through debriefing, I had to find ways to trade this method so the uncertainty of those situations were not a problem. For me, more often than not basic gaussian principles provide all the clarity needed. These do not allow one to carve the turns. Other tools have helped with that. I find I have to play WMCN more often than I think one should if trading the traverse level changes.
Hi ticktrade, I do not observe a SOC at 13:55. I do, however observe B2B beginning at 14:00 (post sequence completion - I think ), creating a BO of the down channel, price then retraces back to the TL (overlapping aspect). So I have labelled 14:00 as PT1. I then annotated an accelerated traverse (PT1 at 15:00)
I did not think permission to seek change existed on 13:50 [close of] bar. 13:05 [close of] bar marked the transition to new dominant mode (red) breaking RTL on incr. Volume. However, while moving from pt2 to pt3, increasing black Volume on 13:25 [close of] bar, caused change in dominance (that bar is not a spike) to black and as such after breaking out of lateral and returning to dominance on 13:50 [close of] bar, we had yet to transition to non-dominant mode before arriving at Pt3. In other words IMO, the market is still on it's way to Pt3 as of 13:50 [close of] and therefore no permission to seek change exist.
I can see this too. I think ticktrade is observing the same conditions. So my preflight CL is correct but my annotations are not?
It's tempting to try to guess and difficult to stay with the anticipation: pt2 to pt3... 1540 looks like a spyke ...
I agree on the spike bar. and non-dom LM so are we waiting for confirmation of the LM BO or has it been confirmed by BO of Traverse TL on IRV? That is my uncertainty here...
I was just trying to offer a possible scenario. While doing my preflight I started working backward from the close and had a down traverse drawn in. Than as I continued backwards came to the other possiblity of a pt2-3 move of the up traverse(questioning where pt1 exists). The final bar of the day came out of a lateral and according to my understanding of the latest discussions this is not considered proof of dominance. Yet.
I can see this... just hard to envision no non-dominance (traverse level) for a 100 point move!!! . The YM shows a very nice dom/non-dom/dom traverse (and acceleration) and now we find ourselves in a 50+ point lateral and waiting for confirmation of BO!!!
I may have misunderstood you here. Are you saying you are looking for PT2-PT3 formation of the up channel (which is not completed yet) in the possible form of continuing lateral movement or a non-dominant traverse?