Quotes from ehorn and ticktrade: 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. 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. I see where you guys are coming from. The R2R you are referring to is due to the crossing of a channel RTL whereas the thing I was describing refers to a traverse RTL crossing. It makes sense that if you are correct, what I described (the third bar) cannot be P2. What you have is a 'tentative' P2 subject to confirmation by the market. What you both are also saying is that the 5 bars I described do NOT meet the criteria for a traverse. So what are your criteria for a traverse which these 5 bars fail to meet? lj
Drill Time! For the 5M ES fractal, we know volume must create R2R \/ for price to move from PT1-PT2 of a down traverse. If anyone is interested, annotate the R2R gaussians which would meet this criteria. EDIT: Extra credit for labelling where we can begin to look for PT2-PT3.
... if you draw them carefully ... all the sequences are 1-2-3 1-2-3 ... every move is formed of 3 lower level moves of various complexities
... tapes can be of various complexities ... your 3rd tape is the 1st tape of one next higher order tape (that is of the same order with your first two tapes) ... and itself is formed of 3 lower order tapes
By 15:05 it seems to me the PA is evident. Knowing wmcn after PA, it makes sense to end the rising gaussian of R2R at the point where PA ends, which is 15:20 bar. However, during the Pace step down after PA, the price keeps moving in dominant direction making lower lows on decreasing volume - which is not what usually takes place during the Pace Step down. Basically I put my end of R2R on black OB 15:45, where non-dominant component of 5 min ES level traverse begins. In other words what you have annotated (and I did too) with p3 on 15:00 bar is faster fractal traverse, IMO.
Cant speak for Ehorn but for me I require a sign of change after a sequence completion that did not follow a pace acceleration.
I agree in principle, except I would put point 1 down where increasing black becomes increasing red. The previous sequences have ended and a new set of sequences have started.