That's tape-tastic but I'm content to bumble along with the variety of tapes described in Jack's "Seven Tapes I Have Known and Loved" and as well his "Overlap Bars You Can't Live Without." lj
Let me explain to both you and ehorn that I'm not saying for a moment that I think my interpretation is correct but rather that I'd like to hear from someone why it isn't. The truth is I believe that we have a 'tentative' P2. lj
After a delicious "Cheesy Chicken" meal my brain has congealed and I see more clearly now some of the pearls which you were dispensing in typical Spyderian fashion. Tiny traverses presage VE's and tapes regulate this. lj
In real time 11:50 appears to be pt 2 of 5 min ES level traverse since 11:50 is dominant bar. However if that assumption is correct, then 12:05 begins movement after p3 into traverse with 1225 being signal for change,... except 1210 to 1225 is also a PA which disqualifies 1200 from being p3 down and therefore disqualifies 1150 from being p2 down. This reasoning makes no use of what may or may not be a lateral beginning with 1145 bar.
I'll reiterate. Someone who wishes to learn to annotate a chart has no idea Pace Acceleration exists as a vocabulary word or as a concept. Some may have realized at 11:55 that the market in no way could be moving between Points Two and Three. Others, may have realized by 12:00 that the market in no way could be moving between Points Two and Three. Everyone should have realized by 12:05 that the market in no way could be moving between Points Two and Three. No lateral exists here. - Spydertrader
Maybe it's just a change signal on another fractal? Or for some reason a simple (small) retrace? I guess there is no such thing as a false change signal? -- innersky