Spyder kindly posted his chart in the IR thread. I'm sure he won't mind if I post a copy here. Perusing his chart, my suspicions have been realized, namely that I've been taking liberties with both laterals and channels. As regards channels, I knew we were in a carryover long channel, yet continued to annotate a fresh, steeper channel even though we hadn't had any VEs. In the absence of additional arbitrary (and erroneous) channel RTLs, the midday period becomes crystal clear. My long midday lateral was invalidated by the preceding lateral (which I had omitted), and two of the traverses I had considered 'fully fledged' - as in meeting all the criteria for a 5-minute level traverse - are designated as faster fractal traverses on Spyder's chart. Time to reconsider some things. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2288667>
Contemplated going long at the close of bar 1, but felt that may have been a little reckless. Long entry at the close of bar 2. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2289253>
I'm beginning to wonder if the first long traverse had been a faster fractal and whether this is now merely a non-dominant lateral of a larger traverse... opens and closes in a horizontal line.
As an aside, I think yesterday is the ideal day with which to decrypt the defining line between faster fractals and 5-minute ES traverse level. Many faster fractal traverses are patently obvious, but the useful thing about yesterday is that we have a relatively narrow, brief 5-minute level Traverse and two relatively wide, long-lasting faster fractal traverses, both of which form in a noticeably different fashion, and at least one of which meets the (ostensible) broader gaussian criteria.
Reversal. Once again, I can't help but wonder how much healthier the bottom line would be without reversals. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2289320>
And back short. Might call it a day. Timing is way off. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2289386>