Seems like if we keep fanning the original tape which began with OB - we end up with just a tape going into the close and arriving at Point 2 of traverse on the first bar of today.
I understand that you are in the process of attempting to find answers for today. However, what you might not understand is I want you to find the answers that you can apply to every day. O.K., so you've chosen the example which indicates the market has moved from Point One to Point Two. Now, you should know where you are with respect to the right side of the market. If /when you arrive at a Point in Time which doesn't make sense with respect to the sequences you now have in place, stop. restart - using another one of the choices. One more thing, make sure you have connected the highs of 15:05 and 15:20 and extend that trend line far into today. - Spydertrader
That is the most important thing that I wish to accomplish. Today or any other day doesn't matter - I want to learn how to learn from charts. But I don't understand what do you mean by: "Three ways to annotate."
I need to learn the thought process that goes into being able to find the answers for any day - and I think that's what you are trying to bring across here.
I would like to line these 3 possible choices for annotations up side by side. But my brain is going into overheating - what does it mean "Three posible choices for annotations."?
On friday, you had a down tape to the Outside Bar. Today, you had an up tape to the Outside Bar. You also started a tape from the Outside Bar. 'Three' Ways. Perhaps, others 'ways' exist, but only one represents the correct way. This is what everyone still struggling needs to learn. Thanks for walking through the process. - Spydertrader
Sorry, I thought ehorn had posted, and my previous post refers to the three 'ways' he annotated around the outside bar. - Spydertrader
It appears that drawing a tape from the Outside Bar produces the result identical to drawing a down tape to the Outside Bar. On the other hand an up tape to the Outside Bar creates an appearance of Point 2 on the low of the Outside Bar due to tape break on 1530 bar. Which obviously is not correct as discussed earlier. So, #3, an up tape to the Outside Bar is eliminated as incorrect choice.
lol! No problem, I will take any hints I can get and greatly appreciate roman getting in here. This method appears to have 2 dominant tapes. 2 of the 3 ingredient for a traverse. But I am struggling to see how the internal (when I consider it as one bar would represent non-dominant movement) I was trying to reflect my view of this area in the following diagram http://www.elitetrader.com/vb/showthread.php?s=&postid=2177879#post2177879 EDIT: I may also be mis-using the directive here to keep the tapes "tight"