My final chart for the day. Still trying to get a handle on the whole dominant- non dominant thing. Spyder, is this at all close?
The 9:55 bar (5th bar - spike with increasing black volume) doesn't break the down tape and closes inside the previous bar. As such, the mode of that bar is short - which would mean continuation down ( as evident from increasing red gaussian). The next bar 10:00 (red dojo) on decreasing red volume becomes signal for change due to lack of continuation and point 1 in the blue up traverse. Is this logic correct?
As a question, you'd agree that yours falls within a certain subset of questions, which, reside under the general heading of all. Spend some time focusing on Gaussians. Remember, the Gaussians need to correspond to the specific Trend Lines used to build the trading resolution. Blue Up Traverse Gaussians don't quite work as they should. Take a look at your first R2R of your medium level (11:35 - ish) Gaussians. You'll want to 'see' that area a bit differently than you have it currently annotated. You've got the EOD and Midday Gaussians down right, but the morning Up Traverse remains a bit off. Clearly, the market concurs with your assessment once again. HTH folks. (All times Eastern and [close of] ES Bars.) - Spydertrader
Thanks for the clarification Spyder. ALL posts of a querulous nature. In the attached EOD snippet of today's chart, I have presented an annotation like that of tobbe's for purposes of discussion. What is of interest given the 2 interpretations of the data presented by tobbe and ehorn is the first 5 bars which address the question,"What is necessary for a traverse segment?" Put another way, do the first set of points 1,2,3 (bars 1, 3 and 5) constitute a traverse? If they do then what we are doing at EOD is building a down channel. If they do not constitute a traverse but are rather a in a ''subtraverse/supertape'' fractal, then we are still in the first down segment of today's final down traverse. The Gaussian represents what one would expect for a full down traverse = IRV then DBV then IRV. The R2R occurs at bar 4. If this is correct, then given what happened after 15:15, in the AM we would expect to continue the first up traverse of the day. To any and all - is this correct and if not, why not? It seems to me that the inability to answer this question is what is screwing people up right now, myself included. This is not a new question. Spyder has asked it multiple times but no one has answered. So here's my go at it. lj
Hi lj, IMO, on the 5M ES fractal, R2R (\/) cannot be constructed at the time in question (By bar 4 in your snippet), therefore the market is indicating that PT2 has not yet arrived (for the 5M ES traverse). Also, I should note that after debrief, I have modified my gaussians to match those of dkm's (which I believe to be more accurate) for R2R in that area. HTH
On my chart the Bar labeled Pink Point Three by Romanus represents the 11:30 Bar. The market stops heading higher and begins to head lower on this specific bar. I encourage you to understand what a tape does, rather than, seek 'rule sets' for tape creation. Altering one's thinking ever so slightly can often show much more than simply how to 'define' a tape. - Spydertrader
JMHO Agree with Ehorn, The way I see it is the r2r is at 1510-20 so no pt2 yet according to present MADA discussions. As often the case I can build more than one scenario for PFC. 1545 sure looks like change and I treated it as such. We have had inc vol up tape, dec vol dn tape and inc vol. up tape so to me we are in an up traverse. This is a multi fractal view I suppose. I expect this is a FF leading to completing a dn traverse. The market will show the way. I am aware we have not completed the dn traverse though.
Thanks Spyder. I agree completely that price starts to head lower beginning with the 11:30 bar but until the LTL is breached with the 11:40 bar, we still have just a traverse. I am not looking for "rules for constructing a tape" but rather asking a rhetorical question, "Is it true what's good for the goose is good for the gander." The RTL rules for fanning or not fanning a traverse do not define a traverse. I cannot think that it would be otherwise for a tape. But, gasp, I've been wrong before and was asking for validation. lj
Spyder, Based on the way the down traverse(that started at 11:30) was constructed, can I assume that the whole traverse is non-dominant? or does the fact that price went below the channel pt 3(12/3/08 - 14:10) negate that theory?