Great post! I didn't think about the bar at 10.40 as a valid point 1. I could see the bar was an ftt, but not by much, and I was already anticipating a longer retrace, so I was looking for a point one/fft to come later. But I guess since black volume picks up around 11, it's already a first dominant leg of a new channel. Your way of seeing it solves my problem, so I guess it's correct
Hi mushroom, There are some improvements which will drop into palce for you if you do some cut and pasting over the weekend. Take a few weeks (Mondays through Fridays, for example) and print them out as clean P, V charts. Next, degap the charts by gluing them togehter. Now you have a long chart with 405 bars and, further, you have eliminate the overnight machinations of non RTH's. The task is to examine how "carryover" works. To research this you can look at my postings of the various parts of the daily e-mails I used to send out. Two of the daily features were tomorrow's news and the carryover of various fractal levels of the market. Occasionally For detractors I occasionally posted the sequence and timing of the next day's trades as well. By having tomorrow's news you knew what to expect at given times of the day. Mosre importantly, by having the carryover, you always knew how to get in on the open and make the first multiples of the day. Now, you have to learn to do carryover yourself and then make use of it each day. Here is a 'tell on your chart. You do not annotate volume until you get into trouble. By not creating fear and anxiety at the beginning of each day, you get to remain more rational as the daay goes on. So I am answering your question by defining and solving the problem that lead to your question. The Pattern 0on each fractal carries over from day to day and it does NOT have anything to do with the non RTH's. These ware two big beliefs that you may not have in hand. One way to get them is to accept what the market says. As you do so, then you will find your partnership with the market begins to contain TRUST. It is important that trust does appear at some point. As you paste together several clean weeks of 405 bars each and do the required degapping, you can then begin to discover the interlocking fractal relationship by doing all bars relative to each other. You chart is very poor that you get from your source. Too bad. If you have the 10 cases annotated automatically, you would see much more on the chart. I took hahahaha guy through the experience of seeing his crude charts have the added degrees of freedom that automatic internals management provides. He didn't get it as we all saw and probably did not catch on to. So life goes for the ignorant. Focus this weekend on doing the 405 bars from bar one to bar 405. Notice how charts merge to carryover the interlocking fractals. As you do this you will also see how missing internals screws you over and over. Presently you are not annotating what is observable. You are annotating what you feel like. By just becoming descretionary about doing annotating, you wind up inventing something that does not work. Elsewhere there is a forum and thread on how the foundation was laid using the cases and deductive reasoning. Print, read and hi lite this to eliminate descretion and rebuild the inference in your mind. It is tough for me to be dealing with ET these days. I am in a place in my life where it is hard to keep up with the ills of old age. I am actually a very capable and helpful person despite what you continually read about me as posted by people who who have mistaken what they think I said. My posts are very dense in information content. There is a lot to take in and keep straight. But luckily, after you read the same thing over and over it does take on a precision and completeness. Watching at criticizing me is a fun thing for some kinds of people. They get the consequences and I have some more humor to read. Try to imagine what would happen if my results were all public. Try to imagine what it would be like if those I had POA's results were made public. Long ago they were. lol ......
Look on Jack's "clean_page_4" upside down. New P3 is Higher/Lower P1. You have clear P3 @ 11:25. BTW you bar coloring is wrong. Please see attached. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3349728 width="800" >
Thanks Stepan, although I recognised the b2b real time, I didn't think about how it effected the drawing of the channels. My coloring is wrong because pricebars are "standard", volume is "Jack style". Probably not a good combination. Jack, I didn't draw the channels subjectively on purpose, I drew them the way I interpret the rules, but I'm gonna check them out more carefully. But wouldn't you agree that there is a subjective element (skills) when you choose which channels that are most important? For me it gets to messy if I draw every single channel. See attached (probably missed some). For a trained eye it's maybe not a problem but if I draw too many it's difficult for me to distinguish which one's shows the dominant trends. When I looked at a video presentation by one of your "students" who were trading on course level he only drew the main channels and traverses.
Volume is the key. Look on 'The Pattern" by baro-san <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3340120 /> and Jack's "clean_page_4" <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1999985 />
I was expecting that pattern, but I was so caught up with this idea that you draw a new channel from an ftt that I was thinking about the b2b as a "flaw" in a retrace. I guess it's as simple as this: if you have a higher low in a downtrend you draw a new channel, and opposite for uptrend. Right? The idea that I had to look for a ftt to get a new point 1 made me neglect the b2b.
Really interesting picture. I didn't understand the meaning of degaping, now I get it. Can you do that with all charting software?
@ 10:40 Bar is peaking red volume and FTT on lower fractal channel not drawn on my chart. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3349728 width="800" > but exists on your's <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3349717 width="800" >