This is the larger view. Todays annotation are scrunched up to see it. You can see where the pale blue line came from..a down channel. price as broken that pale blue RTL so maybe the dark blue up channel is in control.. the red FTT and start of 2nd green channel on previous chart confirmed this larger dark blue point 3.
Finally, closer in again, this is the adherance of price to the green channel and break of pale blue RTL with dark blue RTL as (EDIT possible, must not predict) support. PS. sorry forgot the Green Vol Exp line whilst posting..
finally..finally Green vol exp held..we have move down to grenn and dark blue RTL but on decreasing red vol..let see if it holds..the brake of pale blue RTL may act as and increase support too Edit ..the pink is a down RTL from the highs (point 3's) of last weeks large sell off..so interesting to see how price reacts to that..
IMO The mark of a good teacher Spydertrader, is to get the student to answer his own question..eventually...................... thx
the story is never over as they say.. Just to add that Dark blue RTL is holding so far, but I would like to see more balck vol at this stage.. but also intersting pennant/flag ( which is it ?) appearing as dark blue and pink converge at waht looks like the US open almos to the minute.. probably nothing to do with the methodolgy or maybe it will show today as a significant day regards the pink RTL down channel form point 3's (high) of previous sell off.. lets see..and good annotating to all the ES 'ers out there..
Everyone needs to learn to apply the correct Gaussian Formation with the correct channel. Note the decreasing black volume across the entire blue down channel (black arrows). Note also, the increasing black volume (within that overall channel) applied to the specific up channel (green arrows). Just like Channels, Gaussians have a fractal nature to them as well. - Spydertrader <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1386864>
Spydertrader. thx for reply. Yes I see..thx..my telescope annalogy some post before..trying to learn how and when to zoom in and zoom out.. until the mind learns to see on more than one layer (channel) at the same time.. To help this perhaps always having a larger ( ie 15min30 min) chart up too..spooze_trader suggested this a while ago.. thx
further to your post spydertrader.. i can see the decreasing balck vol on pale blue channel retrace. and increase red vol on dominant travers.. I was expecting increased black vol on FBO of dark blue channel which we got but how do we assess the transfer of vol from overall red to overall black..? We have a bit of both where I have the black maks on the vol pain .. do we assess the red / black vol at major FTT's and FBO I suppose ?